Prepaid Financial Services Continues to Make Waves with DB Card Success in Dutch Market

LONDON, June 11, 2015 /PRNewswire/ --

DB Card Services in the Netherlands has issued the 1.3 Millionth Card Issued by PFS 

Prepaid Financial Services (PFS) Limited is delighted to announce that it has issued its 1.3 Millionth prepaid card when a customer purchased a DB Card Prepaid MasterCard® in the Netherlands. The DB Card is a Euro Prepaid MasterCard launched in 2013 by PFS and DB Cardservice B.V., an innovative payment provider and distributor based in Netherlands.  

Noel Moran, CEO of Prepaid Financial Services, stated "1.3 million cards is just the tip of the iceberg. The Dutch market is heavily dominated by three large retail banks which cumulatively account for over 85% of payment cards in issuance but the Netherlands was the only country in Western Europe to record an overall decline in the number of cards in circulation between 2006 and 2010 and that offered excellent opportunities for non-banking payment providers like PFS".

2013 was a ground-breaking year for prepaid as Dutch card payments were dominated by the growth of prepaid cards, which accounted for 49.6% of the card payment channel and was an ideal time for us to launch with our partners. As the first domestically issued prepaid MasterCard in the Netherlands, we are delighted to share in the continued success of DB Card over the last 2 years."

On a per capita basis, Dutch consumers are among the biggest users of debit cards in the EU, with a preference for debit cards over credit cards, with debit cards accounting for 86% value share of debit card transaction* and debit cards are even cannibalising other forms of payments such as e-purse and cash. With a 54% increase in transaction volume on prepaid cards in 2011, the Dutch market was primed for prepaid card acceptance which prompted the decision of DB Cardservice B.V. to enter the market in July 2013 with the DB Card Prepaid MasterCard.

Dirk Braaf, CEO and Founder at DB Cardservice B.V, commented: "The Dutch market was in financial turmoil due to the onset of the global economic recession and the government bailouts of banks. The three major Dutch retail banks were still in the process of paying off their debts to the State and restructuring their operations which meant a significant gap existed in the market. Prepaid cards are now dominating the Dutch card market and the advent of contactless cards and m-commerce heralds a revolution within cards and payments and we are delighted to be at the forefront of that payments revolution."

The DB Card prepaid MasterCard can be used online, in-store and over the phone at over 37 million locations across the globe as well as at over 2 million ATM's worldwide, wherever you see the MasterCard Acceptance Mark.

The DB card is designed to make online shopping a safe and secure experience through the use of the card which is not linked to the users' bank account and reduces the exposure of the user to the funds on the card. This is ideal for booking airline tickets, reserving hotel rooms, and/or making purchases on sites where the user has not made previous purchases.

Furthermore, with the DB Cashback programme, consumers can gain cashback at over 2500 retailers online to offset any fees that are incurred on card usage making card usage even more cost effective. The comprehensive cashback programme includes leading online retailers such as Zalando.com, Bol.com, Vliegtickets.nl, Hema.nl, Leenbakker.nl, Dixons.nl, NeckerMann, Hi.nl, Essent.nl and Anwb.nl.

The DB Card is valid for 3 years and comes with a high balance limit of €15000. The card can be loaded via direct bank transfers, Ukash Vouchers, as well as the popular iDEAL payments channel which allows quick and easy load for customers of major banking partners such as ABN AMRO, ASN Bank, Friesland Bank, ING, Knab, Rabobank, RegioBank, SNS Bank, Triodos Bank and Van Lanschot Bankiers. iDEAL is supported by over 90% of all Dutch websites, thus making the DB Card an extremely popular option for those looking for convenience and ease in loading, usage, redemption and rewards.

The DB Card is the latest success story within the international portfolio of programmes launched by Prepaid Financial Services, which now has active and live programmes in 20 countries outside the UK, with another 3 international programmes set to go live in next few weeks.

The DB Prepaid MasterCard is issued by Prepaid Financial Services Limited pursuant to a license from MasterCard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. Prepaid Financial Services Limited is regulated and authorized by the Financial Conduct Authority. Registered Office: 36 Carnaby Street, London, W1F 7DR. Registered No. 554603.

For more information, go to http://www.prepaidfinancialservices.com

*Financial Cards and Payments in the Netherlands - Euromonitor International, May 2012
**The Netherlands' Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape - Timetric Report: 2013

Notes to Editors 

About Prepaid Financial Services 

Prepaid Financial Services is a UK based multi-award winning global prepaid provider, e-money Issuer and a MasterCard supplier. PFS is authorised and regulated as an e-money issuer by the FCA in the UK and has passported its e-money license across the SEPA region to enable card issuance in up to 40+ countries. PFS operate as an Acquirer, Issuer, BIN Sponsor and Programme Manager which makes PFS unique in the payment space.

PFS manage multiple programmes' processing millions of transactions every week and our products are utilised by Governments, Local Authorities, blue chip corporations, SME's and individual consumers taking advantage of our cutting edge, secure technology.

Since launching in 2008, PFS has rapidly established itself as a trusted, dependable and credible prepaid provider to a range of clients across the globe and is listed as the 2^nd fastest growing financial services company in the UK for 2014 by the Sunday Times Tech Track 100.

About DB Cardservice B.V 

DB Cardservice B.V. is a provider of innovative payment products and is a leader in the marketing, distribution and sales of Prepaid (re-loadable) MasterCard® cards for general use by consumers and companies.

The DB Card is the first genuine Dutch Prepaid MasterCard. DB Cardservice B.V. is an in the Netherlands registered business, with its office located in Amsterdam.

Our mission is to develop prepaid products and services, with the purpose to provide easy and secure payment worldwide for everyone without access to, or desire for a regular MasterCard credit card.

With a professional and dedicated team of prepaid card experts, we are continuously committed to developing and enhancing our products and services to make electronic payments easy and safe for everyone.

Our clients are central to our business and providing excellent service is our priority.

For more information, go to http://www.dbcardservice.com/

For further information regarding Prepaid Financial Services and how prepaid solutions can benefit your organization, contact +44(0)207-125-0321 or sales@prepaidfinancialservices.com or visit our website at http://www.prepaidfinancialservices.com  

You can follow us on Twitter and Facebook at @prepaidfs and prepaidfs.

SOURCE Prepaid Financial Services (PFS)