Raiffeisen Bank and Irish payment products developer RevEurope have entered an alliance to introduce the Raiffeisen Bank Visa Prepaid Card on the Romanian market.

Under the terms of the agreement, RevEurope is to provide the distribution and processing platform for the program. The Visa-branded prepaid card allows customers to transfer funds to friends and family via their mobile phones by making use of the YAP mobile service, as well as check balances with a text message. The YAP service has been integrated as a result of RevEurope's partnership with MPower Mobile, a US developer of mobile payment applications.

The Raiffeisen Bank Visa Prepaid Card can also be used by Romanian cardholders for internet shopping, purchases at any location which accepts Visa debit cards and cash withdrawal from ATMs worldwide. Customers can purchase a Raiffeisen Bank Prepaid Visa Card at six participating Raiffeisen Bank branch locations. The bank plans to make the cards available at Romanian retailers as well in the near future.