Credit crunch boosts demand for P&MM's Spree-flex card

* Confirmed high profile clients include Clydesdale and Yorkshire Bank, Allianz and TD Waterhouse among many others.

Employees at some of the UK's largest organisations are set to spend more than 2 million this year using their Spree-flex card by Pamp;MM - the UK's first prepaid flexible benefits card, providing major savings at high street retailers, for staff and their partners. The credit crunch has increased the value of the card's proposition to employees which helps save money off day-to-day shopping at major retailers.

As organisations start the planning process for their next flex scheme there is an increasing demand for high street savings to combat the credit crunch and its specific effect on food and fuel - the result has been an increased interest and take up of Spree-flex for staff, commented John Sylvester executive director of Pamp;MM and head of its motivation division.

Spree-flex is a chip amp; pin, MasterCard prepaid card developed by Pamp;MM onto which employees can load funds. Employees are then able enjoy the benefits of up to ten percent savings with major high street retailers when they shop. Retailers include; Sainsbury's, Asda, Boots, Comet, Mothercare, Warehouse, HMV, Principles, Homebase, Halfords, River Island, JJB Sports, TGI Fridays, Marriott Hotels, Debenhams, House of Fraser and the Arcadia Group of stores.

Among the leading UK companies currently using Spree-flex are Clydesdale amp; Yorkshire Bank (National Australia Group) and insurer Allianz. Since its launch in 2007 five Spree-flex programmes have been launch and with current levels of interest Pamp;MM expects to more than double the numbers moving into 2009.

John Sylvester further commented: Employees are starting to feel the pinch, and, now more than ever, are seeking ways to make their earnings stretch further. Amongst the wide range of savings available, savings on household shopping and supermarket fuel is a crucial benefit to all who are no doubt being affected by the credit crunch and rise in prices. We're excited by the prospects for Spree-flex, and pleased to be able to highlight some positives amongst the gloom.

Motivcom, parent company of Pamp;MM, has also announced that it is currently offering Spree-flex to all 450 employees within the group.