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RevEurope has partnered with Raiffeisen Bank in Romania to offer a Visa-branded prepaid card that allows cardholders to send funds via mobile devices within the country, John Mitchell, RevEurope's CEO, writes ATM&Debit News, a CardLine sister publication, in an e-mail message. "The cardholder's mobile phone number is linked to the card account, enabling the cardholder to send a text message from that mobile phone to transfer funds from the card to another cardholder in the country or to check a card balance," Mitchell writes. "The card offers the first mobile-payment service available in Romania. Because it uses [short message service], the capability is accessible from any handset or any provider." Bucharest-based Raiffeisen Bank is issuing the Raiffeisen Bank Visa Prepaid Card, and bank customers can purchase the card for 18 ron (US$6.29 or 4.23 euros); the minimum card reload is 10 ron. The card is available at six bank branches and an undisclosed number of retail locations, he says. RevEurope entered Romania, a country of 22 million consumers, because it is fast-growing market for financial services, but most of the nation's consumers pay with cash. "Prepaid cards will open access to financial services for more Romanian consumers and address pent-up demand in underserved segments of the market," Mitchell writes. RevEurope, which is based in Dublin, Ireland, is a portfolio business of MPower Ventures, an Austin, Texas-based company.
