Prepaid Financial Services works with a wide range of industriesSectors
PFS offers an electronic disbursement solution that provides an effective and auditable alternative to cheques and cash for government bodies and public sector organisations including local authorities, councils and Clinical Commissioning Groups (CCGs). Operating on our secure, flexible platform, it enables public sector departments to electronically disburse public funds via our backend systems on to prepaid cards.
PFS already works with over 55 government, local authorities and CCGs throughout Europe. Specific areas that we already support include; adult and children direct payments, asylum seekers, appointee and deputee clients, welfare payments, community care payments, and disaster relief.
Our card-based direct payment solutions assist governments and public sector organisations to:
Our direct payment solutions are card based, meaning that we issue end-users with a Mastercard prepaid card that can either be PFS branded or white labelled.
In addition, our accounts come with individual sort codes and account numbers allowing them to be used in the same way as a regular current account. Functionality of our account includes:
Much more than just a sub-prime service, prepaid is providing the backbone of more and more payments innovations. Financial Institutions and banks are increasingly partnering with e-money issuers like PFS to assist them in bringing innovative payment products to market quickly. They leverage our existing e-money issuing platforms which have highly configurable features such as the creation of e-wallets and prepaid card accounts with real-time funds loading and transaction monitoring, to compliment existing offerings and create new innovative product lines. As such, prepaid lends itself perfectly to mobile payments, virtual cards and co-branded products.
Prepaid travel cards enable low cost entry into a high value market, while driving a significant revenue stream. PFS has partnerships with several Foreign Exchange providers, allowing our clients and cardholders to load our currency cards at extremely competitive rates. With our multi-currency solutions, we enable our clients to allow customers to have their own e-wallet and move values of different currencies from the wallet to a merchant wallet to pay for goods and services.
With benefits for both employee and employer, corporate disbursements via prepaid cards have flourished in recent years. PFS offers corporate entities payment solutions in areas such as payroll and employee expenses.
Payroll cards are increasingly being used as an alternative to cash or cheques. The system works by issuing employees with a payroll card linked to an account into which the employer deposits the employee salary.
Payments can be made to employees in real-time, with audit trails available on spending. Employees then use the prepaid card as they would a standard bank debit or credit card.
Prepaid cards enable employers to closely monitor business expense payments through a real-time online interface.
The business owner can monitor all cardholder purchases, eliminating the possibility of fraud as well as significantly reducing the amount of time spent by accounts staff checking the accuracy of expense claims.
Prepaid fuel cards can be used at forecourts, for fuel and associated travel expenses, without the need to enrol in costly and cumbersome private label fuel card programs.
Spend on our cards can be restricted to fuel only because our programmes can block or unblock merchant spend on a card to card basis. The employer can also load the cards in real-time, on a scheduled or ad hoc basis, allowing better control of costs.
PFS designs and runs white label payment programmes for Mobile Network Operators, enabling these essential everyday service providers of today to become the mobile banks of tomorrow. Based on our prepaid card solutions, our options for MNO's are extremely versatile, with physical and virtual cards, contactless stickers and handset based mobile payment functionality all being an option.
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