New prepaid card from Tuxedo Money Solutions

Tuxedo Money Solutions, a UK based prepaid card program provider, has issued a new prepaid card. The Corporate MasterCard Prepaid Card is targeted at the UK business community.

Features include:

The card is issued by financial services providers Newcastle Building Society. Cardholders who opt for the Tuxedo Corporate Card can access and view their monthly expenditure online and subsequently export their expenses into a spreadsheet (such as the one provided by Microsoft Excel). The card can also be blocked and unblocked by the user either online or via text message in case there is a suspected security breach. Funds can be added or taken from the card as well as moved from one card to another by an administrator also online or via text message.

For more, read the article at the Payers.

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Tuxedo and Ethoca to Reduce Prepaid Card Fraud

According to this news release on PR Web, Tuxedo Money Plus, a provider of prepaid cards, has partnered with Ethoca, which is a leader in collaborative fraud management, to help reduce risks.

Mark Simon, CEO of Tuxedo Money Solutions mentions:

"Fighting fraud on our own is expensive, and can cost us lost customers and profits. By working together with the wide range of online businesses partnered with Ethoca to stop fraud and reverse its growth, Tuxedo will sustain rapid growth without spending exorbitant amounts of our own time and money combating customer-not-present fraud."

The need for security in prepaid card transactions will skyrocket as the demand for prepaid cards grows in the European market. The Tuxedo MasterCard Prepaid card already offers secure online purchasing, a safe way to make payments, and access to 1.3 million ATMs.

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Times Media and Tuxedo to Partner

Fiextra.com reports that the newest partnership between Times MasterCard Prepaid Card and eccount, powered by Tuxedo Money Solutions will offer its UK customers the ultimate in security. According to the Association of Payment Clearing Services, there was a 25% increase in fraudulent activities with credit and debit cards in the UK. This partnership will allow customers to transfer money from their eccount to their debit cards, if and when they need to spend money. This creates for more security because once the purchase is complete the card no longer becomes useful for a fraudster. The post also highlights:

The card also features chip and pin, giving complete security for internet use, everyday payments and as a worldwide travel card with access to 1.3 million ATM's and over 25 million merchants. Up to £500 can be withdrawn from ATM's daily.

Mark Simon, CEO of Tuxedo Money Solutions mentions:

"By partnering with The Times we can explain the benefits of prepay to a target audience that have very real concerns over the safety of their money when shopping online and whilst travelling - our industry leading eccount solution is just what is needed."

This partnership signifies a growing interest in the European market to have greater control on security and to help better manage spending habits.

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