Card Compact

A Questionable Prepaid Card Scheme

Card Compact acts as a Member Service Provider (MSP ISO) for MasterCard International with the number 14275.  It offers prepaid and credit card programs and enables merchants, associations, or clubs to create their own prepaid or credit card.

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), 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.

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

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Jurisdiction

United Kingdom

Legal Entities

Card Compact Ltd
PSI-Pay Ltd
IPS Solutions Ltd

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