Correos, Spain's national post office, and PFS created "Correos Prepago" - a general spend reloadable contactless Mastercard that is available as an instant issue product in any of its 2,400+ branches across Spain and online.
Correos wanted to offer new financial services with a versatile payment product that would be available to its entire customers base. The product needed to incorporate contactless technology for its users, to offer a quicker and easier method of payment at the checkout.
PFS was chosen to manage the entire programme including BIN sponsorship, programme management, and an end-to-end technology solution. This project included the design and implementation of a dedicated mobile app and customer service support.
This solution has allowed Correos to offer a new financial service with a versatile payment product that is available to its entire customer base. This has further enhanced its brand affinity and solidified Correos' position as a large-scale customer-centric enterprise that continues to push boundaries through innovation on behalf of its customers.
In addition to the universal acceptance that the Mastercard brand brings with it, Prepago incorporates Contactless technology and Google Pay. The feature for Android leverages Mastercard's MDES platform (Mastercard Digital Enablement Service) for secure and convenient mobile transactions for consumers. Prepago allows cardholders to make quicker and easier payments at checkouts and Spanish traders benefit from reduced costs related to cash handling expenses.
"Thanks to PFS' technology platform and its collaboration with Correos, any citizen can enjoy all of the mobile payment advantages with Google Pay using the Correos prepaid Mastercard card without the necessity to be a client of a classic financial institution. Correos, as a company, is focused on providing cardholders with the most innovative payment services and this integration with Google Pay certifies Correos as the first prepaid programme to be enrolled on mobile payments, making access to this new technology easy," Victor Martin Gonzalez de Haro, Deputy Head of Corporate Development at Correos.
© Copyright 2019 Prepaid Financial Services