PrePaid Card Programme – No set up, load, management or maintenance fees
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flexecash® is the brand name for a new pre-paid card programme launched by Park in May 2010. RDF Group and Park Group worked collaboratively to design and build an entirely new bespoke IT platform to enable the launch, operation and future growth of flexecash® pre-paid cards.
The new IT platform allows Park Group to operate both as a card issuer and acquirer, with no reliance on third parties to process or settle card transactions. Additionally, it provides the ability to launch and administer different flexecash® card schemes, which can be tailored to specific participants and be subject to different rules.
flexecash® provides a complete solution for retailer payment processing, supporting different types of card transactions, including sales, refunds, reversals, top ups and balance enquiries. The new IT platform for flexecash® has many benefits including an easy-to-use administrative interface, automated settlement of retailer payments and on-line web and Interactive Voice Recognition (IVR) facilities for card activation, balance checking and creation of text alerts for specific card transactions.
“flexecash® represents Park’s entry into the fast growing pre-paid card market and is the culmination of many months of preparatory work; it is a very exciting development for us. Not only will flexecash® improve our customers’ shopping experience by providing greater flexibility and convenience, it also has the potential to open up a number of important new market opportunities for the Group”.
Chris Houghton, Group Managing Director, Park Group.
Retailers currently accepting the flexecash® pre-paid cards include Debenhams, Comet, Matalan, BHS, River Island, New Look, H Samuel, Ernest Jones, Peacocks, HMV and Wilkinson. This list will continue to grow as other retailers accept the flexecash® brand.
“The card processing application, also referred to as flexecash, was specified, designed and built by RDF within challenging timescales, using RDF’s incremental and iterative process. Requirements were actively managed throughout, nothing was left to chance and all decisions were made in collaboration with stakeholders. The successful development of this application by RDF contributed enormously to the overall success of the wider programme“.
Brian Yates, Programme Manager at RDF.
Please contact Jade on 01273 200100 if you would like to publish this press release or if you would like further information about this project.