A Gibraltar company is issuing a MasterCard-branded reloadable prepaid card denominated in South African rand in time for this summer's World Cup soccer tournament.
Prepaid Financial Services, the card's program manager, will market the PFS MasterCard Prepaid Rand Travel Card to 60,000 U.K. residents expected to attend the 2010 Federation Internationale de Football Association World Cup June 11 through July 11, said Steven Phillips, a Prepaid Financial spokesman. The World Cup, the world's largest sporting event, is expected to attract more than 220,000 extended-stay visitors. The product was announced Wednesday.
There is no cost to activate the card but the minimum value-load is 140 rand ($18.65) and the maximum load is 7,000 rand ($932.70), according to the card's terms and conditions.
Prepaid Financial will market the card through travel agencies in the U.K.
Cardholders will be able to load money onto the card through SMS text messages from a registered mobile phone, the company said.
The Gibraltar Financial Services Commission regulates card issuer Transact Network Ltd., a licensed European electronic-money institution and principal MasterCard member, Prepaid Financial said on its Web site.