Posted on 02/06/2017 at 10:23
Wirecard selected as issuer for Bread4Scrap programme by Payment Card Solutions
Wirecard and Payment Card Solutions extend partnership with new collaboration
Aschheim (Munich)/Newcastle. 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.Download Press Release