Camden COO-L Wins Recognition at 2011 Prepaid365 Card Awards

LONDON, April 8, 2011 /PRNewswire/ -- The Camden COO-L Prepaid Card, a unique product launched by Camden Council to promote young people's activities, was celebrating recognition at the 2011 Prepaid365 Prepaid Card Awards by scooping the Runners Up award in the Best Youth Prepaid Card category.

The Camden COO-L Prepaid card offers young people an opportunity to spend their money on positive activities in and around Camden. Aimed at young people who are eligible for free school meals in school years 9-11, young people looked after and who have learning disabilities and difficulties.

The card is loaded with GBP25 per month which can then be used by the cardholders to participate in fun and positive activities in their local area. Cardholders do not have access to withdraw these funds at ATMs. Instead they are restricted for use at specific merchants and service providers in the Camden area, including music lessons, theatre productions, museums and cinemas.

David Ingham, Camden COO-L Project Manager, said: "It's great news to be recognised in the best youth based card category. Thanks to the Prepaid365 Prepaid Card Awards for this nomination. The card gives young people independence to choose what they would like to do."

The card has received an overwhelmingly positive response from the young people involved with the project. Feedback included:

- "I find the card very easy to use as it's just like a MasterCard. My Mum told me how to use it at first and then I got the hang of it."

- "It makes me feel sort of grown up, having a card."

- "I hope to participate in new activities to learn new things and make new friends."

- "Because you only have to type in a PIN number to buy things - the only thing you have to remember is your PIN number!"

- "It's easier than using money because you won't lose it easily."

- "When you get too much money, you wanna go to cinema or want to go out too much, you wouldn't like to stay at home....but I can improve that by managing the money I have got and decide where and when to go out."

Noel Moran, CEO of Prepaid Financial Services Ltd, programme manager of the Camden COO-L Prepaid Card, said: "We are delighted that the Camden COO-L project has been recognised in the Prepaid365 Consumer Awards. PFS have worked closely with the COO-L team to deliver a card programme which is tailored to meet very specific requirements. The success of the programme is a testimony to the commitment and dedication of the COO-L team and also to the flexibility and scalability of the PFS prepaid platform. That the project empowers young people and affords them opportunities to engage in healthy and positive activities is something we are very happy to facilitate."

Amit Sharma, CEO of Prepaid Marketing Consultancy Emotion Associates and founder of Prepaid365, stated that "Prepaid cards play an important role in providing youth a safe and controlled spending option and this is one of the key pillars of the prepaid value proposition. The Camden COO-L prepaid youth card is an excellent vehicle for teaching children the disciplines of budgeting and providing them with enhanced accessibility and financial independence in a controlled environment - this recognition is well deserved."

Prepaid Financial Services

Prepaid Financial Services (https://www.prepaidfinancialservices.com/) is a prepaid Program Manager, headquartered in London, delivering prepaid card programs in many different geographic markets for banks, processors and clients. Founded in 2007 PFS has launched programs for clients including Foreign Currency cards, Money Remittance, Travel, Payroll, Corporate expenses solutions, Commission payouts and Social and Benefit Payments. The flexibility of the scalable PFS Middleware platform and its ability to interface into multiple processors, third parties and vendors allows the company to be innovative and robust.

- Website: https://www.prepaidfinancialservices.com

Prepaid365 - The Prepaid Card Comparison Portal

Prepaid365 is the UK's leading prepaid card portal online to review, compare and buy prepaid credit cards representing an encyclopaedia of information on prepaid cards, providers and all things prepaid.

The annual Prepaid365 awards, launched in 2009, recognise best in class prepaid propositions and prepaid card providers voted for by consumers and Prepaid365's subject matter experts, respectively with the awards being based on various factors including application process, card design, fee structure, features, functionality, added value and feedback from customer, customer services and the prepaid industry. Visit Prepaid365 to find out more prepaid credit cards, prepaid MasterCard (http://www.prepaid365.com/) and visa prepaid cards as well as the Prepaid365 Awards and the winners.

Prepaid365 is a trading name of Emotion Associates Limited - UK Registration Number: 06964513

Website: http://www.prepaid365.com

    
    Notes for Editor

    All Press Enquires should be directed to Prepaid Financial Services at
    - Tel: +44(0)207-125-0321
    - Email: info@prepaidfinancialservices.com
    - Website: https://www.prepaidfinancialservices.com


    Camden Council Contact

    Contact: David Ingham, Camden COO-L Project Manager
    - Email: David.Ingham@Camden.gov.uk
    - Website: http://www.COO-L.com
    - Tel: 0800-5999-575