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Tie-up for prepaid gift cards

ACCOR SA, Europe's largest lodging company, joined forces with credit-card network MasterCard Inc to create a provider of prepaid gift cards in a project that expands the French hotelier's fastest-growing division.

The joint company, PrePay Solutions, will also provide cards for customer loyalty programs, Paris-based Accor said yesterday in an e-mail statement. Accor and MasterCard see Europe's prepaid-card market to be worth 130 million euros (US$167 million) by 2015, the statement said.

The hotelier has expanded its services division by taking over companies that issue vouchers for uses such as restaurant meals and child care, a popular method to compensate workers, according to Bloomberg News.


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