PFS Launch Bespoke Prepaid Card Technology Platform for Local Authorities
Poster: SySAdmin
Posted on February 28, 2012 at 8:35:01 AM
PFS Launch Bespoke Prepaid Card Technology Platform for Local Authorities
LONDON, February 28, 2012/PRNewswire/ --
PFS today announced the release of a new prepaid platform specifically tailored to the
needs of Local Government. Commenting on the release, Noel Moran, CEO of Prepaid Financial
Services said, "The new evolution of the PFS platform for Local Authorities has been
developed to take into account the varied needs of our customer base. We now provide
payment solutions for Direct Payments, Adult Social care, emergency benefits and corporate
payment card solutions. It's obviously a big year for the introduction of prepaid and
integrating prepaid solutions into the Local Authority sector to provide cost effective,
efficient payment methods for various business divisions. It is also true to say that
prepaid has become a preferred solution for providing expense cards, purchasing cards and
other administrative costs within the Local Authority market.'
PFS is already a major services provider to a number of Local Authorities in the UK.
Having won a series of tenders, services currently provided include but are not limited to
Direct Payments, Adult Social care payments and emergency benefit payments. Our fully
scalable prepaid platform has been proven in the field, as a low-cost alternative to
cheque and voucher based disbursements. Central and Local Governments are embracing the
functionality and control that prepaid cards provide.
PFS have also provided prepaid programs for Local Authorities aiding the social
inclusion mandate, with card programs specifically catering for rewarding teenagers and
young adults with a prepaid card that can be spent on positive leisure activities such as
swimming, bowling, dance classes, cinemas and precluding ATM access and general spend at
non allowable merchants.
Public Sector Organisations want to:
- Reduce costs
- Streamline operations & resources
- Better serve customers
- Increase control and transparency
- Improve security
- Have access to reporting and analytics
- Have the capacity to distribute funds quickly in an emergency
Customers have a desire for:
- Convenience and ease of use
- Flexibility and enhanced security
- Access to payment services if unbanked
Using the PFS platform councils and government bodies can reach beneficiaries with
greater efficiency as cards can be issued quickly without a large paperwork overhead. Not
only has PFS vastly reduced the time spent processing and disbursing funds they have
created a custom loading functionality to facilitate distribution.
Prepaid products can also be issued over the counter to recipients for emergency
funding and ongoing payments, reducing and potentially eliminating the need to hold cash
on the premises, along with the associated insurance and risk costs.
Noel Moran stated "Prepaid as a solution fits into almost all areas of the Local
Authority business divisions, from expense management for staff, the payment of pensions
and salaries, to enabling efficiencies in benefit payments. Our focus at PFS is to provide
outstanding technology solutions, backed by first class customer service. Our UK call
centre covers multiple languages and other support including Type Talk. We made a
deliberate decision to provide all customer support out of the UK, from our London office
to ensure our level of service meets and exceeds the requirements of our customers.
Additionally as an acquirer in the UK, we are able to provide merchant accounts for the
carers to receive payments directly from the prepaid cards."
A recap of the benefits of partnering with PFS:
- Proven provider of prepaid services to the Local Authorities
- Specific development and bespoke technology developed for the provision of adult
social care payments
- Ability to block or unblock cards for ATM and cash advance
- The PFS platform enables rapid payments directly to carers and other third party
service providers
- Direct Debit and Standing order capability per card account
- Real time online reporting suite
- Ability to export and analyse all load and spend, per card, per business unit on ALL
transactions at any time
- Ability to block certain Merchant Category Codes (MCC), or restrict card usage to
desirable merchants only
- Ability to load and segregate funds using the PFS e-Wallet and Distributor Code
settings
- Ability to account for client and Local Authority funds separately and reclaim
overpayments back to the Local Authority instantly
For a more detailed overview and project proposal, please do not hesitate to contact
PFS
Prepaid Financial Services Ltd
Debello House,
14-18 Heddon Street,
Mayfair,
W1B 4DA
Email: info@prepaidfinancialservices.com
Web: http://www.prepaidfinancialservices.com
T: +44(0)207-659-2429
Source: Prepaid Financial Services Ltd
LONDON, February 28, 2012/PRNewswire/ --
PFS today announced the release of a new prepaid platform specifically tailored to the
needs of Local Government. Commenting on the release, Noel Moran, CEO of Prepaid Financial
Services said, "The new evolution of the PFS platform for Local Authorities has been
developed to take into account the varied needs of our customer base. We now provide
payment solutions for Direct Payments, Adult Social care, emergency benefits and corporate
payment card solutions. It's obviously a big year for the introduction of prepaid and
integrating prepaid solutions into the Local Authority sector to provide cost effective,
efficient payment methods for various business divisions. It is also true to say that
prepaid has become a preferred solution for providing expense cards, purchasing cards and
other administrative costs within the Local Authority market.'
PFS is already a major services provider to a number of Local Authorities in the UK.
Having won a series of tenders, services currently provided include but are not limited to
Direct Payments, Adult Social care payments and emergency benefit payments. Our fully
scalable prepaid platform has been proven in the field, as a low-cost alternative to
cheque and voucher based disbursements. Central and Local Governments are embracing the
functionality and control that prepaid cards provide.
PFS have also provided prepaid programs for Local Authorities aiding the social
inclusion mandate, with card programs specifically catering for rewarding teenagers and
young adults with a prepaid card that can be spent on positive leisure activities such as
swimming, bowling, dance classes, cinemas and precluding ATM access and general spend at
non allowable merchants.
Public Sector Organisations want to:
- Reduce costs
- Streamline operations & resources
- Better serve customers
- Increase control and transparency
- Improve security
- Have access to reporting and analytics
- Have the capacity to distribute funds quickly in an emergency
Customers have a desire for:
- Convenience and ease of use
- Flexibility and enhanced security
- Access to payment services if unbanked
Using the PFS platform councils and government bodies can reach beneficiaries with
greater efficiency as cards can be issued quickly without a large paperwork overhead. Not
only has PFS vastly reduced the time spent processing and disbursing funds they have
created a custom loading functionality to facilitate distribution.
Prepaid products can also be issued over the counter to recipients for emergency
funding and ongoing payments, reducing and potentially eliminating the need to hold cash
on the premises, along with the associated insurance and risk costs.
Noel Moran stated "Prepaid as a solution fits into almost all areas of the Local
Authority business divisions, from expense management for staff, the payment of pensions
and salaries, to enabling efficiencies in benefit payments. Our focus at PFS is to provide
outstanding technology solutions, backed by first class customer service. Our UK call
centre covers multiple languages and other support including Type Talk. We made a
deliberate decision to provide all customer support out of the UK, from our London office
to ensure our level of service meets and exceeds the requirements of our customers.
Additionally as an acquirer in the UK, we are able to provide merchant accounts for the
carers to receive payments directly from the prepaid cards."
A recap of the benefits of partnering with PFS:
- Proven provider of prepaid services to the Local Authorities
- Specific development and bespoke technology developed for the provision of adult
social care payments
- Ability to block or unblock cards for ATM and cash advance
- The PFS platform enables rapid payments directly to carers and other third party
service providers
- Direct Debit and Standing order capability per card account
- Real time online reporting suite
- Ability to export and analyse all load and spend, per card, per business unit on ALL
transactions at any time
- Ability to block certain Merchant Category Codes (MCC), or restrict card usage to
desirable merchants only
- Ability to load and segregate funds using the PFS e-Wallet and Distributor Code
settings
- Ability to account for client and Local Authority funds separately and reclaim
overpayments back to the Local Authority instantly
For a more detailed overview and project proposal, please do not hesitate to contact
PFS
Prepaid Financial Services Ltd
Debello House,
14-18 Heddon Street,
Mayfair,
W1B 4DA
Email: info@prepaidfinancialservices.com
Web: http://www.prepaidfinancialservices.com
T: +44(0)207-659-2429
Source: Prepaid Financial Services Ltd