Prepaid cards are payment cards that have been preloaded with funds; they can be used to make purchases and to access cash from ATMs at over 24 million locations world-wide, wherever MasterCard® or Visa is accepted. Because the cards are preloaded they offer a secure and convenient alternative to cash, without the danger of running into debt.

Altair has recently launched an unparalleled addition to its prepaid card services that makes use of an innovative mobile technology. A principal product that immediately benefits from this new technology is its successful MoneyShare® Card. It is a MasterCard® branded two-card package that allows the instant and safe transmission of funds using SMS instructions to move funds from a primary card to a secondary prepaid card.

The Payroll Card is particularly attractive for businesses employing high numbers of transitory staff on short term contracts who may arrive in a country without any banking arrangements set up in advance. Using the latest SMS technology or the Internet, wages can be loaded simply and easily onto a corporately branded Prepaid MasterCard® that staff can use immediately for all their personal requirements. MoneyShare® can be built in to the card so that card holders can instantly and cheaply send money to their families back home.

iPay Holding will have its headquarters in Dubai which will host its global processing and call center facilities. Distribution partners are now being appointed throughout GCC and the launch will be supported with an aggressive marketing campaign.