London, UK-based PrePay Technologies has been granted certification from MasterCard to issue chip and PIN cards to supplement its existing magnetic stripe card processing capabilities.
<p>The certification award is good news for PrePay Technologies as chip and PIN technology is rapidly gaining ground in the UK. Statistics from UK payments association APACS show that in excess of 130 million chip and PIN cards have been issued, and it is estimated that 87% of all tills in the UK have been upgraded to be able to use the new technology.<br /><br />Gaining chip & PIN certification from MasterCard means that we are able to further extend the capabilities of our processing platform allowing us to deliver the right technical solutions for the right products, commented Garry Comley, COO at PrePay Technologies. Chip & PIN has proved to be a UK success story and we were keen to be able to provide our customers with this increased functionality through our processing systems.<br /><br />PrePay Technologies already provides the technology behind some of the most successful gift card and travel money card programs in the UK marketplace, including schemes for customers of Debenhams, Western Union, Comet, Topshop and Laura Ashley. PrePay Technologies is also the company behind Splash Plastic, a reloadable prepaid debit card targeted at the youth and unbanked markets that was first launched in 2001.</p>