Peter Jones, owner of Phones International, has entered the prepaid cash card market with his launch of On-X Master Card. It is going to be sold in a number of underserved demographics through Data Select, their distribution company.
After Phones 4U and O2, Data Select is the third retailer to make a move in this sector.
The company has got the support of Graham Ellerton, former Marketing Director of 20:20 Mobile. He is currently the development director of M-Cube, a Prepay Card Company. He will pilot this prepay debit card across 600 outlets through the coming year. He is expecting a sale of almost 40,000 units during this period.
One of the officials of Data Select said, “By 2010, the overall UK market for Prepay Debit Card is going to be worth £17 billion.” The main aim of the company is to reach almost 8 million residents of US having no banking privilege.
George McPherson, Chief Executive of Data Select, said, “A number of top players have stepped in the card market recently. However, we are going to make use of our extensive distribution in retail network for maximizing our growth.”
“Our target audiences will perfectly complement the profile that is required for the users of prepay card. Prepay market worth billions in Europe and now, about to make an impact in UK.”
You can buy an On-X chip & PIN Card at £9.99 (RRP inclusive of VAT). You can use a top-up of £650. There is an option of upgrading the limit to £1,650. However, you need to provide personal information for that. You can even acquire a debit card (fully-personalized) that will serve you with a £3,000 limit.
Tags: On-X-Master-Card