Financial Prepaid Services (PFS), a MasterCard prepaid partner, has introduced the SmartPayCard Prepaid MasterCard in Slovenia, the first domestically issued prepaid MasterCard in that country.
The SmartPayCard handles funds in euros and can be purchased at certain retail outlets in Slovenia, as well as online and by text message.
There are two versions of the card. The Simple card is a non-reloadable virtual prepaid card that can be purchased with a balance of up to 250 euros, and is preactivated and ready to use upon loading, with no monthly fee for the first 12 months. As a virtual card, the Simple card does not allow ATM withdrawals and is designed for online purchases. The other card, Premium, is a reloadable plastic or virtual card with a limit of 2,500 to 15,000 euros with a monthly service charge and 36-month validity. The plastic version of the Premium card allows ATM withdrawals.
The card is also connected to Telekom Slovenije's payment product, Moneta, which enables transactions to be executed from phones.
"We have enabled over 1 million of our telecom users to instantly obtain and load new, single-load or reloadable prepaid MasterCard cards, with their mobile phone, wherever they are in the world, and pay the card value later via their telecom invoice," said Igor Bernot, SmartPayCard's CEO, in a press release.
MasterCard's efforts to expand internationally also include a partnership with Western Union to offer prepaid services in emerging markets.