5 September 2007

Raphaels Bank, a leading Bank in the development of pre-paid cards for the retail sector, is working with Gift Card experts, StoreFinancial, to create a pre-paid MasterCard gift card for a number of designer outlets in the UK.

The gift card programme has been created by StoreFinancial and Raphaels Bank for a number of MacArthur Glen Designer Outlets around the UK. Giving customers the opportunity to purchase a gift card, which can then be used in every outlet within the shopping centre, each individual gift card has a maximum single load value of up to £500. Now available from MacArthur Glen Designer Outlets in York, Livingston, Cheshire Oaks, Ashford, East Midlands, Bridgend, Swindon and Telford, the cards can be purchased from each Centre’s information desk.

Raphaels Bank is responsible for issuing the single load store card for each Designer Outlet involved in the programme and is accountable to MasterCard and the FSA for all aspects of the scheme. Raphaels also provides accounts to hold the customer balances as well as facilitating daily settlements of card transactions with MasterCard.

Mike Smith, Group Director of Marketing and Strategy at Raphaels Bank said: “This innovative programme gives recipients of the shopping centre gift card a world of choice under one roof rather than in a single shop. It is the ideal solution for gift vouchers and demonstrates Raphaels Bank’s considerable expertise in this field. McArthur Glen represents the first of many launches to create an entire UK portfolio.”

Stuart Green, Commercial Director at StoreFinancial said: “StoreFinancial has had a great deal of success with programmes like these in Canada and the USA. We’re confident that our card programmes provide the market leading solution to shopping centres, shopping associations, towns and retailers across the UK and we’re predicting explosive growth in this market this year. We’re delighted to be working with Raphaels Bank - they’ve shown first class speed, flexibility and commitment to get us up and running on these programmes.”

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