The Powerflex 700 supports an SDHC memory card which is better than most digital cameras of a comparable spec and age to it. Most cameras of a similar type and age to it support an SD memory card. This camera also supports an SDXC memory card. SDHC cards are DS hards with a higher capacity of up to 32GB. The memory card type of all digital cameras of this type and age ranges from Eye-Fi (worst) to SDXC (best).
It may also be worth also looking at one of the other cameras that support SD, SDHC and SDXC memory cards currently available including because of it's better review score, the Casio Exilim EX-ZR400 (£309.00).
If the memory card type of this camera is not good enough for you then you might also want to look at the Coolpix S6500 (SD,SDHC,SDXC), or the Coolpix A (£293.61) (SD,SDHC,SDXC) both from Nikon which also has a higher rating.