PORTLAND, Ore., November 19, 2003 — Capitalizing on its leadership role in prepaid recharge solutions, Vesta Corp. announced today a partnership with MasterCard International to support the new MasterCard rePower program. Vesta will manage recharge transactions for U.S. customers who use rePower to add value to their prepaid wireless accounts. The collaboration marks Vesta's continued expansion in the fast growing stored value marketplace.
MasterCard rePower is a payment mechanism that provides cardholders with a flexible and convenient way to reload stored value accounts using their MasterCard debit or credit card. Vesta's recharge solutions allow MasterCard rePower customers to replenish these accounts in real-time through the Internet, by phone, via text messaging and email or by setting up an automatic recurring payment.
"We are focused on making stored value reload easier for both customers and their service providers," said Doug Fieldhouse, president and CEO of Vesta Corp. "With MasterCard rePower, stored value customers gain ease of use while providers earn the opportunity to increase brand loyalty."
Designed to stimulate the acceptance and usage of stored value products and services, Vesta's solutions realize increased profits for customers and benefit end users through expanded service options. By strengthening the connection between customers and service providers, Vesta is able to turn one-time users into long-term customers."
Vesta's leadership and expertise in U.S. stored value transaction management made them an ideal choice for MasterCard to partner with for the launch of MasterCard rePower into the U.S. marketplace," said Murdo Munro, vice president m-Commerce/Wireless, MasterCard International. "We believe that this partnership raises the standard for cardholder convenient, stored value replenishment."
Headquartered in Portland, Ore., Vesta is the leader in stored value recharge services. Uniquely suited to stimulate customer loyalty in the telecom, financial services and retail industries, Vesta's solutions are designed to support credit card-not-present (CNP) transactions requiring real-time customer authentication and account recharge. For over seven years, the Company's proprietary recharge and authentication technologies have maximized revenue and provided secure, convenient account recharge services for customers of AT&T Long Distance, Cingular, American Airlines, Citibank, AT&T Wireless, and others. Vesta has been ranked as one of America's fastest growing private technology companies by Inc, Fast Company, and Deloitte and Touche, and was recognized by the ComputerWorld Honors Program for technological advancements. For more information on Vesta Corp. email info@trustvesta.com.
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