Prepaid Mastercard gift card programme rolls out to UK-wide designer outlets

Raphaels Bank, a leading Bank in the development of pre-paid cards for the retail sector, is working with Gift Card experts, StoreFinancial, to create a pre-paid MasterCard gift card for a number of designer outlets in the UK.

The gift card programme has been created by StoreFinancial and Raphaels Bank for a number of MacArthur Glen Designer Outlets around the UK. Giving customers the opportunity to purchase a gift card, which can then be used in every outlet within the shopping centre, each individual gift card has a maximum single load value of up to £500.  Now available from MacArthur Glen Designer Outlets in York, Livingston, Cheshire Oaks, Ashford, East Midlands, Bridgend, Swindon and Telford, the cards can be purchased from each Centre’s information desk.

Raphaels Bank is responsible for issuing the single load store card for each Designer Outlet involved in the programme and is accountable to MasterCard and the FSA for all aspects of the scheme. Raphaels also provides accounts to hold the customer balances as well as facilitating daily settlements of card transactions with MasterCard.

Mike Smith, Group Director of Marketing and Strategy at Raphaels Bank said: “This innovative programme gives recipients of the shopping centre gift card a world of choice under one roof rather than in a single shop. It is the ideal solution for gift vouchers and demonstrates Raphaels Bank’s considerable expertise in this field. McArthur Glen represents the first of many launches to create an entire UK portfolio.”

Stuart Green, Commercial Director at StoreFinancial said: “StoreFinancial has had a great deal of success with programmes like these in Canada and the USA.  We’re confident that our card programmes provide the market leading solution to shopping centres, shopping associations, towns and retailers across the UK and we’re predicting explosive growth in this market this year.  We’re delighted to be working with Raphaels Bank - they’ve shown first class speed, flexibility and commitment to get us up and running on these programmes.”

Ends

September 2007

For further press information please contact Maddy Roles or Wendy Harrison at HSL on 208 977 9132. maddy@harrisonsadler.com

Notes to editors
Raphaels Bank is one of the oldest independent banking houses in the UK, established in 1787.  The Bank is authorized and regulated by the Financial Services Authority, ensuring the Bank maintains the highest standards of integrity and security.  The Bank offers a range of financial products for personal and business customers including current accounts, loans, trade finance, foreign exchange, notice accounts and fixed rate bonds.  It has a specialist CFX team dealing with the needs of businesses moving money to or from the UK.

Raphaels Bank is a leading player in the emerging prepaid debit card market and is a principal issuing and acquiring member of MasterCard and VISA.  Acting as a sponsor bank, Raphaels Bank offers opportunities to companies that wish to launch prepaid card programmes in the UK and other European countries.  Raphaels Bank currently sponsors several innovative programmes including an insurance claims disbursement card for Norwich Union.

Raphaels Bank is a member of the LINK ATM scheme and has its own estate of ATM’s dispensing both Sterling and foreign currency.  Raphaels Bank is expanding this network rapidly through relationships with other partners as well as identifying and developing its own new sites.

About StoreFinancial
StoreFinancial, a wholly-owned subsidiary of StoreFinancial Services LLC in Overland Park, Kansas USA, offers integrated gift card programs specifically for shopping centers around the world. With an experienced management team from the financial and retail services industries, StoreFinancial develops and implements custom gift card solutions exclusively for the retail shopping centre industry. StoreFinancial utilises partnerships with the global bank card networks and international, transaction processing centers to offer gift card service unmatched within the industry. For more information about StoreFinancial, visit us at www.storefinancial.com.