MasterCard launches pre-paid cards

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MasterCard launches pre-paid cards

MasterCard has introduced two new cards to add to its existing range - a pre-paid travel card and a gift card.

Working in a similar fashion to regular credit or debit cards, the new MasterCards are pre-loaded with funds, which the company says is safer than cash and also offers greater flexibility than gift certificates and single-use cards.

The cards will be made available from financial institutions as well as participating stores and provide customers with the peace of mind that they are unable to go over the specific available funds of the card, eliminating the risk of running up a debt as with a credit card for instance.

Chris Reddish, the head of pre-paid for MasterCard Europe, remarked: "Consumer demand for gift and travel cards is growing.

"Although consumers have become accustomed to using gift vouchers and traveller's cheques, they are now looking for solutions that are more globally accepted, convenient and secure than cash and vouchers. These new pre-paid MasterCard cards provide the perfect solution in each of these areas."

The MasterCard travel card will offer customers the chance to use an alternative to travellers' cheques when abroad.

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