Help Now at Hand for Millions Missing out on Online Shopping Boom

LONDON, November 1 /PRNewswire/ --

- UK's First pay-as-you-go VISA Voucher set to Revolutionise Online Shopping

Almost nine million(i) people have been left out in the cold from the Internet shopping revolution, new figures warn today.

The 3V 'Online Shopper' study, from 3V Transaction Services Ltd, claims that almost a fifth of the adult population want to shop online but don't - due to either not having a bank card, the fear of online fraud or the worry about losing control of their spending.

The research shows that eight in ten people believe you can save money shopping online - a saving of up to 25%. Last year alone 310 million online card payments were made in the UK for a total amount of GBP22 billion(ii). Yet millions of people are denied access to the best deals because they don't own or want to own the plastic to pay for them, or are uncomfortable using a card online even when they do have one.

The findings are published as 3V launches a new pay-as-you-go VISA voucher in the UK - a secure way to buy goods online using cash.

The 3V Voucher enables everyone over the age of 16 to shop online safely, wherever VISA is accepted, without using a credit or debit card. And it's simple to buy - just like buying mobile phone top-up.

The innovative new patented product is designed to substantially reduce fraud as 3V Vouchers can't be cloned, and security details are delivered separately to the customer's email or mobile phone at the time of purchase. Good news for the 16% of people in the 3V study who say they know someone who's been a victim of fraud online, or the 38% of people who have experienced fraud on bank cards elsewhere.

The key features and benefits of the 3V Voucher are:

- It's just like buying mobile phone top-up

- Secure - security details are delivered separately by phone or email when you buy your 3V Voucher

- Convenient - easily available from up to 25,000 participating payzone shops across the UK

- Accepted worldwide on any website site displaying the VISA logo - use just like a credit card anywhere online

- Available in amounts between GBP20 and GBP200, at a one-off cost of GBP3.50 per voucher

- Money back at anytime for GBP1.75 - even if lost or stolen

Kieron Guilfoyle, chief executive of 3V Transaction Services Ltd says: "The launch of 3V Vouchers in the UK is great news for people who want to shop online but can't or for those who don't want to because of the fear of fraud or going into the red.

"Simple and easy to buy - just like purchasing mobile phone top-up - the 3V Voucher gives people all the benefits of a bank card without the hassle of credit checks, filling out lengthy application forms or getting bank references."

The UK launch follows a successful pilot in Ireland. Over 60,000 have signed up for 3V Vouchers since launch in October 2005. The majority of users are aged between 18-35 years old and interestingly 33% of users already have a credit card.

3V Transaction Services Ltd has partnered with VISA, Irish Life and Permanent PLC and cash acceptance network, payzone to bring 3V Vouchers to the UK today and in Europe from 2007.

Carol Heath, head of pre-paid for VISA Europe said: "VISA is excited about 3V launching in the UK market. The ability for someone to enter a payzone store and purchase prepaid vouchers with cash provides an innovative and flexible solution for those wanting to take advantage of what the online marketplace has to offer."

To register for a 3V Customer Card, go to www.3vcash.com. 3V Vouchers are available from any of the participating payzone shops across the UK. You can find your nearest store on www.3vcash.com at 'Where to Buy'.

High resolution images are available for the media to view and download free of charge from www.vismedia.co.uk. Comparison chart and details of how 3V Vouchers work attached.

The 3V Online Shopper Study attitudinal research carried out by YouGov among 2,335 UK adults during September 2006.

(i) TGI data 2005

(ii) source: APACS

Notes to Editors:

3V

3V Transaction Services Ltd provides innovative prepaid debit products primarily for use in online payment transactions. It was founded in 2004 to target the unserviced EUR500 billion European prepaid card market. Following an extended pilot phase in Ireland, 3V Vouchers are now available in the UK and will be rolling out to Germany, Holland and Spain in 2007.

The 3V Voucher enables everyone over the age of 16 to shop online, wherever VISA is accepted - without using either a credit or debit card. Simple to buy - just like purchasing mobile phone top up - the 3V voucher gives all the benefits of a bank card without the fear of fraud or going into the red. Visit www.3vcash.com for more information.

Charges, terms and conditions apply. Users must be 16 years or more with a mobile phone. 3V Vouchers are issued in association with VISA by Irish Life & Permanent plc and licensed by the Irish Financial Regulator.

payzone

payzone is part of alphyra, Europe's largest cash acceptance network with 150,000 terminal sites.

payzone is the UK's largest branded network for payments and collections with terminals in over 25,000 retail outlets around the country.

The payzone network has grown rapidly over the last three years, offering consumers a local and convenient way to pay for mobile phone top-ups, utility bills & local authority payments, gift cards, disposable credit vouchers and money transfer products, as well as a wide range of other services.

For more information visit www.payzone.co.uk or www.alphyra.com

Visa Europe

In Europe, there are over 315 million Visa debit, credit and commercial cards. In the 12 months ending June 2006, those cards were used to make purchases and cash withdrawals to the value of over EUR1.19 trillion.

Visa Europe is a membership association - an organisation owned and operated by its 4,500 European member banks. As a dedicated European organisation it is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers, and to meet the European Commission's objective to create a true internal market for payments Visa Europe is a part owner of Visa International, the organisation that ensures global interoperability of products as well as management of the Visa brand.

In October 2006, Visa announced that it intends to restructure its entire worldwide organisation except Europe in order to create a new public global corporation called Visa Inc. As a part of this restructuring, Visa Europe will remain a membership association with an exclusive license in Europe.

Globally Visa is one of the world's leading payment brands and has unsurpassed acceptance at approximately 24 million acceptance locations including one million ATMs.

For more information, visit www.visaeurope.com.

The Irish Life and Permanent PLC

The Irish Life & Permanent group is a leading provider of personal financial services in the Irish market. The group formed from the merger of Irish Life plc and Irish Permanent plc in 1999. The group's strategic focus is on Ireland and its successful economy, with an ambition to be the number one provider of personal financial services.

The Group has over one million customers in Ireland.

SOURCE 3V Transaction Services Ltd