P24 Banking

Prepaid Card Scheme

P24 Banking belongs to the already advised king company (PR42 Profile) .

king is a trading name of Card Compact Ltd (PR42 Profile), a UK-based company acting as a Member Service Provider (MSP ISO) for MasterCard International with the number 14275. king offers prepaid and credit card programs and enables merchants, associations, or clubs to create their own prepaid or credit cards.

The company was founded in 2011 by Colin Greaves, who also is one of the company’s directors besides the Austrian Anton Herzog.

The cards are issued by PSI-Pay Ltd pursuant to a license by Mastercard® International Incorporated. The e-money associated with the cards issued by IPS Solutions Ltd d/b/a ecoPayz (PR42 profile), is authorized and regulated by the Central Bank of Cyprus under the Electronic Money Law 2012.

On the Internet, the company advertises that it offers “Schufa-free” credit and Mastercard credit cards. In reality, however, consumers do either not receive any cards, or, alternatively, very often prepaid cards that come with significant costs.

We strongly advise you to stay away from the company and therefore downgrade the company to red.

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