Mastercard Prepaid Management Services​

Background

Multi-currency travel cards are among the most demanding prepaid products to manage. Each card holds several currencies, works across borders and carries a household brand, so it has to work the moment a traveller lands. Mastercard Prepaid Management Services (MPMS) manages these programs for well-known brands across Australia and New Zealand, and in 2020 needed an issuer and BIN sponsor to take them forward.

Solution

In 2020, EML became issuer and BIN sponsor for MPMS. Put simply, MPMS cards are issued on EML’s Mastercard BIN ranges, and EML carries the licensing, scheme and compliance obligations that come with issuing them. The first step was migrating multiple multi-currency travel programs in New Zealand onto EML, which quickly led to further programs moving across in Australia. With the regulated side of issuing handled, MPMS can focus on what it does best, designing and managing travel money programs for its brand partners.

Outcome

What began as a multi-currency travel card migration in New Zealand has grown into a broader issuing partnership across Australia and New Zealand, supporting established brands in multiple industries. In February 2024, after a rigorous and competitive tender, MPMS appointed EML as issuer for its programs, including those for Airlines, Travel Agents, Financial Institutions, Government agencies and FX bureaus. Winning that tender four years into the relationship is the clearest measure of how the partnership has performed.