Industry News 5/23/2006

Extreme Sets to Revolutionise the Pre Pay Card Market

Extreme Sets to Revolutionise the Pre Pay Card Market

Extreme are well pleased to announce the launch of Extreme Cred our new and unique pre paid card biz that kicks off today.  Extreme Cred’s mission is to provide the best range of re loadable, pre pay cards out there.  Seeing a significant gap in the market for relevant, accessible, affordable pre pay cards, Extreme has teamed up with a highly experienced management team made up of the very best credit card professionals to deliver this truly unique and revolutionary pre pay card service.  

Extreme Cred cards are easy to use, any one of any age can get one,  work just like a traditional credit or debit card, but have no credit so they have to be ‘topped up’ or ‘loaded’ before they can used, working in exactly the same way as a pre pay mobile phone. So when the credit runs out, you have to top it up again in any shop displaying the Paypoint sign, online with a credit or debit card or at any post office. The security of chip and pin, cash withdrawal at any cash machine and the ability to purchase on and off line anywhere the Maestro sign is shown means this is potentially set to become the next must have product for teenagers.
Extreme Cred’s proposition stands out because of its unrivalled focus on providing great customer service and experience. At £8.95, it is the most affordable card on the market. From the killer card design to being completely UPFRONT about the terms and costs, Extreme has designed a product and service that is fit to become the market leader.  Extreme are going to donate a percentage of profits to a charity of the card holders choice.The Extreme Cred Card is unique because it is the only card in its sector to have a chip and pin and there are no management or transaction fees either.

Buying an Extreme Cred card is very straight forward.  All you need to do is visit, buy on line and within 10 working days you will receive the card of your choice. The Extreme Cred card service is called UPFRONT, it’s called UPFRONT because money needs to be loaded onto the card UPFRONT before it can be used and because Extreme Cred is completely UPFRONT about all the costs and charges.  Extreme Cred are going to donate a percentage of profits to charities of the card holder’s choice.

Al Gosling, CEO and founder of Extreme commented “Extreme Cred is just an awesome new business for us, Our goal is to provide the best range of pre pay debit cards out there backed up with the best customer service. It fits perfectly with our mantra that anything we venture into we offer something new and different, and with Extreme Cred we sure are doing just that”.

Mark Kennedy MD of Extreme Cred said: “This is a perfect fit, giving the ability to safely carry cash about and buy online to people who don’t want to be tied down or hassled. Extreme Cred has no hidden charges, no statements, no hassle, everything’s UPFRONT. From the cutting edge card design to the great features, this is made for our customers and will only improve as we develop a community and service around our cardholders which brings great benefits designed to appeal to them.“

Background: In November 2005, financial scheme rules were changed to enable card transactions to be authorised online.  This meant that the risk of going overdrawn on a pre-paid account was removed, making the pre pay card proposition viable and available to everyone of any age.  In the USA there are over 50 million pre pay cards in circulation with over $100million being spent on them annually.

About Extreme
Extreme was started in 1995 by Al Gosling, founder of the Extreme Sports Channel and is a collection of businesses, with a shared brand and shared values.  Aged 24, passionate about extreme sports and unable to find a job that interested him Al set up Extreme. Today Extreme delivers a range of branded action sports and lifestyle products and services including, Extreme Entertainment (TV), Extreme Retail,, Extreme Mobile (an MVNO mobile phone service), Extreme Drinks, Extreme Hotels, Ex Parks ( action sports based theme parks), Ex Space ( Restaurants)  and Extreme Cred. Extreme employs 247 people and operates in more than 70 countries around the world.  The Extreme Sports Channel reaches over 40 million homes around the world and is broadcast in over 60 countries in 12 languages.