MasterCard rePower allows consumers to add cash to eligible MasterCard or Maestro prepaid cards. The card can be topped-up by using vouchers that are redeemed on the MasterCard rePower website. The funds are available to the cardholder to spend where MasterCard or Maestro cards are accepted.
CQR’s Kalixa prepaid card is the first prepaid program that can be loaded in the UK via the MasterCard rePower service.
Depending on the country, the MasterCard rePower service is set to provide cardholders with two ways to load cash. First of all, cardholders convert cash onto a Ukash voucher which can then be redeemed online Once the voucher is redeemed, funds are instantly available for the cardholder to spend wherever MasterCard is accepted. Second of all, cardholders provide the retailer with an eligible MasterCard prepaid card and the cash to be loaded, the card is inserted into the point of sale terminal as if it were a regular purchase transaction. The transaction is approved, the card is returned to the cardholder and funds are credited to the card
In recent news, MasterCard and UK-based online payment services provider Optimal Payments have signed a five-year strategic agreement.
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