opportunity for Retail

Novum Bank Limited: Prepaid market is a growth opportunity for Retail

Malta, July 17, 2013

Novum Bank Limited "Cards & Stored Value" offers tailor made card programs aimed at increasing revenues and retaining customers.

Summary: Card based payments at points of sale are increasing. Even today the classical retail channel processes almost EUR 2,000 billion annually in card payments in Europe. Novum Bank Limited can support retailers in capitalizing this growth by offering white labelled prepaid card programs. 

Payments are increasingly done with credit, debit and prepaid cards. Therefore, it is becoming more important for retailers to have a proper payment strategy in place. Novum Bank Limited’s "Cards & Stored Value" business offers specific retail solutions for open, restricted, and closed loop card programs, all structured under a banking license. 

Novum Bank Limited (formerly known as VoiceCash Bank, founded four years ago) positions itself as a partner for retailers and corporates in structuring eMoney based prepaid debit cards, gift cards, electronic vouchers and similar services. The card solutions of Novum Bank Limited enable business customers and partners to expand their business quickly, address potential customers and increase brand awareness, e.g. via "white label" solutions with own card designs, functionalities and websites. 

Novum Bank Limited consistently relies on state of the art technology: products can be structured with PayPass NFC technology, cash top-up systems, and remote access capabilities for consumers and employees.   

As a principal member of the MasterCard® organisation, Novum Bank Limited is an issuer of MasterCard and Maestro Prepaid Card, in addition to its own eMoney based vouchers and gift cards. Novum Bank Limited has a European Union SEPA banking licence and hence fulfils all regulatory requirements like customer identification, verification, anti-money laundering policies and all other regulatory banking and eMoney requirements. Novum Bank Limited "Cards & Stored Value” is initially going to market in Germany, Belgium and the Netherlands, with further European markets in the coming years. 

The CEO of Novum Bank Limited "Cards & Stored Value”, Pascal Beij, emphasises the growth opportunities for the industry: "Even today almost EUR 2,000 billion and therefore more than a third of point of sale revenue in Europe is done via card based payments. This number will grow substantially in the coming years, also with new technologies like mobile wallets and mPOS terminals for cards coming into play. With our 'Cards & Stored Value' solutions we offer companies, retailers, but also other banks, state of the art card programs to increase revenues and drive customer retention."

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