Digital Payments Plc: Implementation of new ser...
Digital Payments Plc implements two of several new multi-function services on its proprietary Digital
Wallet platform.
Digital Payments Plc (the "Company"), the GXG Main Quote listed company with ISIN GB00BMM1RR05,
launches its multi-function wallet platform designed to support several new functions, including the
introduction of the first two services: customer loyalty and dynamic multi-currency on their prepaid
card. These are the first of several new functions designed for the Digital Wallet platform.
The suite of loyalty services provides a combined solution to financial institutions, participating
merchants, and cardholders. The Digital Loyalty card includes several value added services such as
cash back rewards on purchases made at participating merchants. The wallet can also be used to earn
loyalty points that can be redeemed or used later to make purchases at participating merchants.
The second new service being implemented on the Digital Wallet is the multi-currency platform that
offers cardholders the ability to maintain multiple currencies accessed by a single prepaid card. This
platform enables travelers to make purchases in the currency of the country without incurring the high
cost of foreign exchange rates.
Customers can now easily load up to 14 different currencies onto a single, chip-and-pin card and in
addition to being used for spending at POS and withdrawing cash at ATM's can move money between purses
thus hedging and potentially profiting from currency movements. Built into the platform is a fully
automatic 'sweep' system ensuring a customer can always spend any funds in any of the purses on the
card.
David Carr, CEO of Digital Payments Plc commented saying "Whilst there are many FX/Travel cards in the
market and quite a few multi-currency offerings, M2 Payment Solutions, a Digital Payments Company is
the first processor to enable true interbank rates to be offered to consumers. It is also a strong
value add to offer a bundled multi-currency and loyalty rewards platform in one. This is again another
demonstration of how M2 Payment Solutions can build new and innovative technical solutions based on
client needs"
These are the first of several new services being developed on the Digital Wallet. Future product
releases will include additional value added services for merchants, remittance and trust accounts.
The Directors of the Issuer accept responsibility for the contents of this announcement.
For further information please contact:
David Carr - CEO
Digital Payments Plc
Telephone: +44 207493 0387
Email: press@digitalpaymentsplc.com
GXG Corporate Advisor
Nick Michaels and Jon Isaacs
Alfred Henry Corporate Finance Limited
www.alfredhenry.com
Tel: +44 207251 3762
Digital Payments plc
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