TUXEDOANNOUNCED WINNER IN NINTH ANNUAL PAYBEFORE AWARDS

Tuxedo Money Solutions, a leading payment technology and prepaid card provider, has been announced the winner in the ‘Best Travel Companion’ category at the Paybefore Awards, 2015, for its STA Travel ISIC Prepaid MasterCard® Card.

Now in its ninth year, the Paybefore Awards recognise excellence and innovation in the worldwide prepaid, mobile and emerging payments industry. The awards are presented annually by Paybefore, whose publications are a leading source of industry information for emerging payments executives.

STA Travel ISIC is the International Student Identity Card, with over 4 million users worldwide. Launched in June 2013 in conjunction with IDT Financial Services Limited, the STA Travel ISIC Cashcard is a student only card combining the benefits of a prepaid travel card with a student ID and discount card – the UK’s first single international ID and travel card all in one.

The STA Travel ISIC Cashcard is underpinned by Tuxedo’s central solution, the eccount® platform. The system manages a full range of prepaid products and services and ultimately enables Tuxedo to deliver a flexible programme to meet the requirements of STA Travel.

Tuxedo’s STA Travel ISIC Prepaid MasterCard Card was selected by a panel of five industry experts who served as judges for this year’s Paybefore Awards, which included entries from around the world.

Tuxedo’s Chief Executive Officer, John Sharman, comments: “Winning this prestigious award is an incredible start to 2015. The Paybefore Awards are an incredible platform to showcase our expertise to a global market. Tuxedo is committed to continual improvement, and this award is testament to the dedicated work of our team that has allowed Tuxedo to innovate ahead of the game.”

Commenting on Tuxedo’s win, Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel, said: “This year’s Paybefore Awards have demonstrated once again that payments companies are committed to driving out the inefficiencies of cash and cheques, while also increasing value for clients and end users. We’re proud to recognise the contributions of Tuxedo Money Solutions, STA Travel and ISIC to advancing electronic payments.”

Marilyn Bochicchio, Paybefore’s CEO, added: “Some may think there’s nothing new in the world of payments, but the outstanding winners in Paybefore Awards prove that’s not so. Emerging payments is packed with opportunity to make a difference for consumers, governments and businesses. And, the companies and programs we recognise through Paybefore Awards are outstanding examples of what can be done when creativity intersects with technology and a deep understanding of unmet needs. We tip our hats to the winners and all those who are making a difference.”

Tuxedo’s STA ISIC Prepaid MasterCard Card will now vie for Best-in-Category distinction, which will be announced during the Paybefore Awards ceremony on 24th February at the All Payments Expo. Visitors to Paybefore.com will have a chance to vote on Best in Category until 28th January. The outcome of this vote (counted as one-sixth of the total) will be combined with the five judges’ picks to determine Best-in-Category honorees.

Founded in 2006, Tuxedo launched its first prepaid product in 2007 and following strategic investment in educating consumers and businesses of the advantages of prepaid solutions, it has developed a portfolio comprising more than 800 organisations. This latest achievement affirms Tuxedo’s growing stature in the marketplace.