MUNICH and NEWCASTLE, England, February 6, 2017 /PRNewswire/ --
- Wirecard and Payment Card Solutions extend partnership with new collaboration
Wirecard Card Solutions, a subsidiary of Wirecard AG, collaborates with Payment Card Solutions (PCS) - a leading UK based prepaid Programme Manager to deliver Bread4Scrap (B4S) Prepaid Mastercard, an award winning prepaid programme for scrap metal dealers.
Following the introduction of Home Office guidelines, which made cash payments for metal at recycling yards in England and Wales no longer legal; these changes made it compulsory that all transactions provide an effective audit trail, making it an offence to use cash to pay for scrap metal. Hence, the Bread4Scrap prepaid card programme was launched. It offers an effective tool for licensed scrap metal traders to adhere to these government guidelines.
The programme already has over 90 clients with thousands of cardholders using the service who make payments of approximately in excess of £4-5 million per month with further growth expected.
The Bread Prepaid Mastercard® Card is a reloadable e-money product which combines innovative, secure EMV card packaging with a unique corporate loading and float management system to ensure that cards are issued securely and legally out in the field and importantly cards can be used immediately by scrap dealers for general spend. Participating scrap metal dealers issue their customers with Prepaid Mastercard Cards and instantly load these cards with the funds previously paid in cash.
"PCS is delighted to have successfully migrated our Bread4Scrap card portfolio to Wirecard, our long term issuing partner to consolidate our joint relationship. This together with our joint processing partner, GPS give us confidence that our cardholders will receive a superb service in the coming years," said Paul Swinton, CEO of Payment Card Solutions.
Wirecard Card Solutions already works with Payment Card Solutions on a number of successful physical and virtual prepaid pan-European programmes.
"Payment Card Solutions is one of our long standing programme managers, one of the original pioneers of the prepaid industry. We are delighted to be working with them on the Bread4Scrap programme, which is another fantastic example of how prepaid can solve problems across all industries. In this case, providing a secure, convenient and easy way to disperse what had previously been cash payments," said Brian Lawlor, Director of Sale and Business Development at Wirecard Card Solutions.
Wirecard Card Solutions is the number one issuer of prepaid card in Europe. The UK-based Company is authorised and regulated by the Financial Conduct Authority (FCA) and operates under its Electronic Money license with permissions to issue cards throughout the SEPA region. Wirecard Card Solutions accompanies its' clients throughout all stages of their business development and offers a vast array of products, services and experience needed to take a new a prepaid card programme to market.
About Wirecard AG:
Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about
Wirecard, please visit http://www.wirecard.com or follow us on twitter @wirecard.
About Wirecard Card Solutions:
Wirecard Card Solutions Ltd (WDCS), a subsidiary of Wirecard AG, is a multi-award winning issuer of prepaid cards and products in Europe. WDCS is an FCA regulated Electronic Money institution specialising in BIN Sponsorship and is a principal member of both MasterCard International and Visa Europe. WDCS issues plastic and digital prepaid products for many of the biggest and most innovative programmes in the European marketplace. http://www.wirecard-cardsolutions.co.uk
Payment Card Solutions (PCS) was formed in 2006 and has grown into one of the leading program managers in Europe issuing thousands of cards per month across the region and deploying its award winning solutions into hundreds of corporate clients. PCS prides itself on being first and foremost a technology company providing payment services and prides itself on its customer driven development of its technology platform. http://www.paymentcardsolutions.co.uk .
Wirecard Card Solutions Limited
Payment Card Solutions
SOURCE Wirecard AG