Cash Era for Fleet Drivers Over with Launch of Prepaid Corporate Card

In response to the decreasing availability of credit for fleets and corporate organisations at all levels, Airmax Scope, an integral part of the Airmax Group, has launched what is believed to be the first Prepaid Corporate MasterCard® in the UK.

The launch combines the services of Airmax Scope, M2 Europe the prepaid card provider, Newcastle Building Society and MasterCard, and enables the facility to make payments wherever MasterCard cards are accepted. It is anticipated that the Scope Prepaid MasterCard will replace costly and inefficient paper-based processes within fleets and corporates, such as cheque distribution, receipt, paper voucher printing and recurring payment distribution all of which has emerged in recent surveys as a major time and manpower concern within companies.

The Scope Prepaid MasterCard enables far higher levels of financial control and accountability with its online detailed itemisation of workforce expenditure together with customer configurable usage parameters which allow employee work profiles to determine the level of money and the transaction limit held on the Scope Prepaid MasterCard combined with the range and type of outlet where transactions are allowed. Typically the card will replace cash, personal cheque and credit card and reimbursement scheme transactions for fuel, hotels, restaurants and general work incurred expenses. Provided the client account remains ‘in funds’ then cash levels on the card is automatically topped up at pre-set times throughout the day. Cash withdrawal is not enabled at this stage.

As explained by Darshan Amin, Airmax Scope Director, “The Scope Prepaid MasterCard is a new payment tool suitable for all UK registered businesses, irrespective of size or credit history. The Scope Prepaid MasterCard incorporates flexible business rules providing businesses with enhanced financial control across workforce spending. Subsequently, the card can easily be incorporated into almost any existing systems to improve fuel, fleet and general internal financial management, reporting and analysis. Designed from the outset on a modular basis, the Scope Prepaid MasterCard integrates with existing systems to provide added value web and data services, including vehicle telematics services”.

Negotiations for subscription to the Scope Prepaid MasterCard are currently taking place with a number of UK based fleets and local authorities.

Further information can be found at www.myexpensedetails.com

More Information

Phil Gallagher, Airmax Group Ltd, Tel. +44(0)7825 150 863, email: p.gallagher@airmaxgroup.com

web: www.airmaxgroup.com

Darshan Amin, Airmax Scope Ltd, email: info@airmaxgroup.com

web: www.myexpensedetails.com

Nov 17, 2009

Notes to Editors:

Airmax Scope Limited is an integral part of the Airmax Group a privately owned company based in Verwood, England. Airmax Scope specialises in developing micro payments systems for applications associated with vehicle telematics usage and other closed user projects. It is widely used by leasing companies for the management of vehicle maintenance and service as well as fleets for logistics and more recently insurance companies are using our technology for Pay How You Drive schemes.

Airmax Group is one of Europe’s most successful innovators in the supply of telematics solutions to the commercial, police forces and business fleet markets; the Company has in excess of 25,000 vehicles fitted with its telematics units providing data across a diverse range of applications such as fleet management, driver performance profiling, vehicle diagnostics and CO₂ emissions.

MasterCard is a registered trademark of MasterCard International. The Airmax Scope Prepaid MasterCard is issued by Newcastle Building Society ("NBS") pursuant to licence by MasterCard International Inc. NBS is authorised and regulated by the Financial Services Authority as an issuer of e-money (registration no. 156058). NBS subscribes to the Banking Code, copies of the Code are available upon request.