Cashplus payment card awards again
Win for Cashplus at 2008 payment card awards
Card Awards London, February 2008
Cashplus Best Achievement in Customer Service
Rather than test pre-paid cardholders as the owners of the ‘poor person’s’ product, Advance Payment solutions has committed themselves to providing a high standard of customer service similar to that found at a high street bank. However, unlike banks, as a standalone pre-paid card business, APS has not been able to fund customer service operations off high margin products, so their service is even more commendable.
The team at APS has recognised that the average Cashplus Gold Active Plus card customer requires immediate support in accessing their account balance wherever they are. Monthly statements are no good for these customers as they do not work on the overdraft/credit facility of a traditional account. APS has met these needs by developing SMS, IVR and online account management facilities so that customers can check their balance and transaction history in the most convenient way for them.
In May 2007, the launched an on demand text message alert system for balances and last five transactions. Free SMS messages are also offered to registered customers who top-up at the Post Office, to confirm when their funds are available to spend. Customers can et transaction details or their balances directly, 24/7 without speaking to a customer service advisor or they can access a live operator through a low-cost UK based customer service number. As the cashplus Gold MasterCard is used by significant number of immigrants without bank accounts, APS has provided customer service materials in a number of East European languages.
APS was the first pre-paid card company to voluntarily provide purchase protection for their customers to parallel the Consumer Credit Act protection for credit cards. This includes protection for all transactions under £100.00, recognising that pre-paid customers’ average transactions are likely to be lower in value and that they may be more heavily impacted. They are also the only company with two pricing tariffs: a monthly fee and also a per transaction fee alternative, which allows customers to change between them depending on high or low usage periods.
Both APS and their contact centre, The Listening Company, have already won awards for their customer service. High customer satisfaction, including high success rates for refer a friend promotions, mean that cardholders are active for longer and the goodwill predisposes them to cross-sell opportunities and paid-for premium service upgrades in the future.