PRE-PAID cards will soon be part of the expanding financial services offering from the Birkenhead-based Park Group.
The Christmas hampers-to-finance operator said it is planning to launch a range of cards known as Flexecash which will be redeemable in a wide range of retailers, including Argos, BHS, Comet, Debenhams, HMV, Matalan and New Look.
These retailers, along with many other high street operators, already accept Park’s multi-redemption gift voucher, Love2shop, and the new range of cards will complement and extend that service, the group explained.
Chris Houghton, Park Group managing director, said: “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.”
The pre-paid cards look like credit and debit cards and allow users to pre-load a limited amount of money onto them.
The user can then only spend the balance that has been pre-loaded, which means there is no risk of running into debt as it has no credit or overdraft facility.
Once money has been credited the card can be used in the same way as debit or credit cards, for high street, online or telephone purchases, as well as withdrawals from cash machines.
