back to listings SME Profile: Prepaid Financial Services Limited
Payment Solutions from Prepaid Financial Services Limited
Prepaid Financial Services (PFS) is currently one of the fastest growing technology companies and e-money payments institutions in Europe. We have built our success by operating as a payments technology specialist that offers some of the most flexible and quick to market services in the payments industry - and as a result our partners include national governments, mobile network operators, banks and global blue-chip organisations.
Our award-winning service line includes own label and white label e-money financial solutions, including e-wallets, prepaid cards, and current accounts. PFS provides complete end to end solutions for clients by designing, developing, implementing, and managing these programmes.
Reduce distribution costs and simplify payments to individuals
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 100 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:
- Reduce costs
- Streamline operations & resources
- Better serve customers, enabling budget management
- Increase control and transparency
- Improve security
- Enable financial inclusion for all recipients
Additional account features:
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:
- Public funds payments direct to account
- Payment of bills online and transfer funds
- Setup recurring payments such as Direct Debits and bill payments
- Budgeting tools
- Online cardholder accounts
- Mobile apps
- Accounts Payment Switching Service
Currently PFS supply the following solutions to various local authorities and government bodies throughout Europe:
- Provide stream-lined and cost-effective distribution of public funds
- Provide a debt collection solution to service users for payment toward a debt held by service.
- Provide a cashless alternative within the prison services and to inmates to eliminate any issues with the safety of prisoners’ transactions.
By using these efficient processes, time and resources saved can be diverted elsewhere.
Prepaid Cards and Business Services
- Consumer Cards
- Virtual Cards
- Multi Currency Cards
- Business Services
- Instant Issue Cards
- Gift/Incentive Cards