SIX Payment Services passes prepaid milestone

SIX Payment Services now has one million PayLife prepaid cards in circulation in Austria, making it the country’s largest card issuer. The use of rechargeable or preloaded cards has increased rapidly over recent years in the Austrian market. In 2010, SIX (which rebranded from PayLife) had 170,000 active prepaid cards registered, with usage increasing an average of 47 per cent annually since then, reaching the one million mark at the beginning of this year.