Prepaid Solutions’ Maritime Payroll Product Travelex® OceanPay® Named ‘Best in Category’ in Fifth Annual Paybefore Awards

ORLANDO--(BUSINESS WIRE)--Paybefore announced at Prepaid Expo USA that it has selected the Travelex® OceanPay® Program as the 2011 Paybefore Awards “Best in Category” winner in the Most Effective Prepaid Solution category. Paybefore Awards, now in its fifth year, is the most prestigious recognition of excellence in the worldwide prepaid and stored value card industry. The awards are presented annually by Prepaid Media, whose Paybefore publications are the leading source of industry information for the global prepaid community.

“Our strategy is always to build effective and impactful solutions that provide high value and truly solve problems.”

“We’re extremely honored to receive such recognition for our maritime payroll product,” said Kenneth M. Goins, Jr., CEO of Prepaid Solutions. “Our strategy is always to build effective and impactful solutions that provide high value and truly solve problems.”

The Travelex OceanPay Program was selected by a panel of five industry experts who served as judges for this year’s competition, which—once again—included a record number of entries from around the world.

“Paybefore Awards were created to celebrate the innovators in our industry who are using prepaid to transform payments with ever-more efficient and accessible products,” said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel.

“Our industry is growing rapidly because of companies like Prepaid Solutions, Inc. and Travelex, who continually improve their products and services or create new ones,” she continued. “We are proud to recognize their contributions to advancing the prepaid industry.”

”In each of its five years, Paybefore Awards has attracted a wider and more diverse group of nominations,” added Marilyn Bochicchio, Paybefore’s CEO. “This year’s entries showed exceptional creativity and thoughtfulness in using prepaid to solve real world payment issues and provide outstanding convenience, safety and control for individuals who are the ultimate users of these products.”

Travelex OceanPay is a proprietary, comprehensive payroll solution designed to mitigate the unique challenges and concerns of existing payroll processes faced by the maritime industry. The fully turn key solution provides currency exchange and money transfer services, companion cards, on-board card printing and encoding and free Internet connectivity.

Some of the unique payroll challenges of the maritime industry include compliance with legal requirements established by the Merchant Marine Act of 1920 (Jones Act), which regulates maritime commerce in U.S. waters, as well as the Merchant Marine Act of 1915 (Seaman’s Act), which provides legal protections for workers at sea.

PPS provides the maritime payroll solution with the help of its long-term and exclusive business partners, Travelex and MTN Satellite Communications (MTN). PPS has integrated into the prepaid product offering the currency conversion and international payment expertise capabilities of Travelex, while MTN provides global communications with the ships. Travelex and PPS share sales, marketing and program management responsibilities, while PPS performs implementation and support efforts.

About Prepaid Solutions, Inc.

Prepaid Solutions (PPS) is an international payments company offering comprehensive prepaid solutions for corporations and consumers. Our core mission is to provide innovative solutions to niche markets seeking cost-effective payment methods and superior customer service. The company provides marketing, design, distribution, and fulfillment services in support of payroll, general purpose reloadable, loyalty, award and promotional programs. The company’s consumer-based products are available for purchase in more than 2,000 retail stores and are reloadable via multiple retail networks nationwide. PPS has locations in Atlanta, Chicago, Denver, Milwaukee and Miami. Visit www.PrepaidSolutions.com to learn more.

About Travelex

Travelex is the world's foreign exchange and international payments specialist, operating through subsidiaries and branches in five regions: the United Kingdom; Europe, Middle East and Africa (EMEA); Americas and Asia Pacific. As one of the world's leading providers of outsourced travel money to banks, travel agencies and other retailers; it provides products including its prepaid travel card Cash Passport™ to millions of customers every year. Through its world-leading automation, Travelex offers consumers a full range of delivery channel options including telephone and web-based ordering. For more information, visit www.Travelex.com.

About Paybefore

Paybefore is the leading information provider to prepaid and stored value industry professionals, offering the latest news, commentary and analysis. Paybefore’s family of industry publications include: Paybefore.com™, a searchable online news and information portal; Paybefore News™, daily news briefs delivered electronically; Paybefore News International™, a weekly compilation of prepaid news and events from outside the United States; Paybefore Update™, a downloadable e-newsletter delivered 20 times a year; Paybefore Legal™, a downloadable e-newsletter covering the legislative, regulatory and judicial developments in prepaid, as well as feature articles by leading attorneys in the field; Paybefore Magazine™, a biannual print publication featuring in-depth articles on the opportunities, challenges and trends in the global prepaid and stored value industry; and the only industry directory, Paybefore Buyer’s Guide™, available online and in print. Visit us at www.paybefore.com.