Warehouse Group launches a prepay card

On Friday Carphone Warehouse Group and its partners Monitise and Metavante Technologies in their joint release have announced about a coming launch of a prepay card applicable for use in millions of outlets worldwide. According to the creators consumers will be able to load their cards directly from their bank accounts and all transactions will be secure due to a secure application stored on a mobile handset.

This card enables the consumers to check card balance as well as a history of recent transactions and as it is a prepay card - users cannot spend more than they have on their card.

The issue of cards is expected in August with a major credit card company; payment will be accepted wherever that card is valid. The authors refuse to name the credit company.

"In the U.S. we already process over 80 million payment cards for consumers through a whole range of distribution partners," said Frank Martire, president and CEO of Metavante Corporation. "Consumers tend to use them to budget and manage their day to day spending."

Despite the excitement of the creators anticipating a success, some analysts look at this situation skeptically as the market of the UK is oriented to the consumers without bank accounts.