The rebrand marks a decade delivering payment solutions to UK and European companies. Raphaels has launched Near Field Communication (NFC) contactless programmes, socially responsible models which challenge the traditional banking formats and the inclusion of additional payment schemes to further develop the prepaid market in Europe.
Its current portfolio has surpassed 6 million cards with cardholder balances exceeding GBP 250 million and yearly settlement of over GBP 5 billion. These funds result from the 180 programmes currently in operation across 12 different countries, through 24 partners.
Leveraging its status as a bank and membership of the VISA and MasterCard schemes, Raphaels became the first UK issuer of a prepaid VISA or MasterCard product in 2005, and has advanced to being the second largest prepaid MasterCard issuer in Europe, the company states.
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