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Market-leading technology and extensive prepaid market experience from Nomad, Europe’s leading prepaid and debit processing solutions provider, is behind the successful launch of the Tuxedo Blue Diamond prepaid Maestro® card from Tuxedo Money Solutions (TMS).

Initially targeted at key ethnic communities, the Tuxedo Blue Diamond is the first ever all-in-one card package to be sold over the counter in local retail stores throughout the UK, and can be used to withdraw cash, make payments, shop in stores and make purchases securely online. Nomad not only provided the processing platform to perform the transactions securely and efficiently, but also used its market knowledge to facilitate an introduction to the Newcastle Building Society to meet the requirement for an e-money licence.

A major benefit was that Nomad’s CORTEX processing platform integrated easily with TMS’ Core Application Platform (CAP), which manages the customers’ products and pricing. This flexibility simplified the solution and was a key factor in bringing the project to market on schedule.

“Perhaps the biggest differentiator” says Colin Loubser, Chief Operating Officer, TMS “between Nomad and the other processing companies that we spoke with, was that Nomad is very flexible. We found the other processors were very prescriptive in what they would provide for us, which didn’t suit our needs.”

As a MasterCard® approved processor Nomad has great experience of meeting the diversity of requirements that a prepaid project entails. During the pilot process TMS wanted to update its proposition and change some functionality and Nomad, thanks in great part to the strength of its CORTEX platform and delivery team, was able to accommodate the changes within the demanding timescale.

As well as the Blue Diamond Card TMS is also working strategically with Nomad on other prepaid projects and would be delighted to recommend the company to others. The Nomad solution suits both ends of the spectrum, Colin Loubser believes, be it a basic product or a more complex one with bespoke requirements needing multiple interfaces to other applications.

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Editor’s Notes:

About Nomad - Nomad has a well-deserved reputation for delivering innovation in card payments to its clients. Nomad continues this trend by leading the way with a fit-for-purpose prepaid capability for issuers, which meets the requirements of international scheme open-loop prepaid cards, featuring cardholder web service capability.

The service manages all of the complexities surrounding card processing on behalf of members, including card and PIN production, customer service facilities, fulfillment and transaction authorisation. Members are free to focus on their core business, confident in offering a flexible range of competitive products to their customers cost-effectively.

Building on its expertise in debit card processing Nomad has extended its specialised knowledge base and has harnessed its innovative Nomad CORTEX software to deliver a service which genuinely and cost-effectively caters for pre-paid cards and all of their specific complexities.

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About Tuxedo Money Solutions (TMS) - TMS was set up in April 2006 by former founder members of Alpha Telecom, which at the time was the largest prepaid telecommunications provider. The TMS management team had built an unparalleled marketing and distribution network prior to the business being sold to Tele2 in 2003.

TMS will be providing a range of pre-paid stored value cards including prepaid general spend cards, international money transfer cards, corporate and payroll cards to many of the same ethnic markets as well as expanding into the Business to Business sector. TMS plans to expand into Europe within the next 12 months.

TMS is a MasterCard® Member Service Provider and has an agreement with Newcastle Building Society to operate an FSA regulated e-money service.

TMS prepaid cards are available for purchase at 1,000s of independent retailers throughout the UK. Top-up facilities are available at over 2,000 high street bank branches nationwide and at the Post Office. TMS will also roll out load and top-up facilities at several thousand other outlets throughout the country in 2007.

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