"We are extremely excited to be working with MasterCard again, where our MYPLASH brand got its start. As the teen prepaid and gift card market continues to experience tremendous growth, we felt it was the right time for us to return to MasterCard to collaborate and share expertise to get this much needed financial tool into the market and directly into the hands of teens and young adults," said Brian Newberry, CEO of Plastic Cash International. "MasterCard definitely shares Plastic Cash International's goals for the future of MYPLASH. Both organizations have a common vision to remain the teen prepaid market leader, facilitate teen financial responsibility and offer parents greater convenience and security. And, above all, to do it in an innovative and 'cool' way that today's young people can relate to."
"As a global leader in prepaid, MasterCard has aggressively focused its resources and expertise to develop innovative products and work with world-class partners that help create a competitive advantage," said Laura Kelly, Senior Vice President, Global Prepaid & Healthcare Solutions, MasterCard Worldwide. "Working with Plastic Cash International on MYPLASH prepaid cards enables us to meet the needs of today's teen market by appealing to their individual styles, personalities and preferences, while also promoting financial literacy and responsibility for young consumers and their parents."
Together with MasterCard Worldwide, Plastic Cash International will be developing additional product attributes to continue to enable teenagers to budget, save and spend effectively, while offering parents a convenient platform to manage their teens' spending. MYPLASH MasterCard products will be available summer 2010, for use at all locations where MasterCard is accepted.
About MasterCard
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
About Plastic Cash International, LLC
Creator and marketer of the MYPLASH Prepaid Product brand, Plastic Cash International, LLC has emerged as the largest teen branded prepaid card company in the world. Co-branded with MasterCard and sold nationwide, MYPLASH has distinguished itself from competing prepaid cards with unparalleled, product offerings and consumer loyalty, as well as establishing a way to connect with teenagers. As teens and young adults continue to turn to online outlets for their shopping, banking and gaming, MYPLASH helps to make these activities and purchases safer and easier by maintaining all the advantages of using cash or a checking account, without the associated risks. MYPLASH cards are not linked to personal bank accounts or sensitive information, therefore eliminating overdraft fees, negative balance charges and the risk of identity theft. With exclusive branded content and discounts, MYPLASH truly connects with teens and young adults in a "cool" and relevant way, filling the void long left empty in this market. For parents, MYPLASH finally delivers increased security and convenience with a fresh way to get teens to pay attention to, and manage their finances. For more information go to www.myplash.com. Follow us on Twitter:@mypla$h.SOURCE MasterCard Worldwide
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