Raphaels Bank to issue Think Money’s prepaid debit card program

Raphaels Bank Card Services has secured a contract with Think Money Group for issuing its prepaid debit card program.

Raphaels Bank Card Services, a UK-based prepaid and credit card services provider, has secured a contract with Think Money Group, a financial services company based in Manchester, for issuing its prepaid debit card program.

The bank will manage the debit card element of the thinkmoney Personal Account that has more than 100,000 customers with over £1bn transaction value.

The thinkmoney card will enable individuals to enjoy the convenience of debit card payments without being subjected to the risk of going overdrawn.

Raphaels Bank Card Services general manager Andy Downes said: “This contract is a major coup for Raphaels Bank Card Services, firmly putting us at the forefront of this sector as a trusted prepaid Issuer. We are delighted to have won this contract and plan to deliver outstanding service to thinkmoney and its 100,000 customers.”