PIF in the News: Prepaid cards delivering dividends for councils

Local Government News - Governments across the world have switched to prepaid cards as a modern alternative to cash when it comes to distributing payments to its citizens who opt not to use bank transfers. However, the UK is only now starting to fully seize the opportunity.

Cash-based government payments are inconvenient and expensive to administer, as well as being less secure and harder to track. Despite the UK being second only to Italy in Europe in its need to replace cash, with an estimated £3bn of transfers each year, it is only now that these types of prepaid schemes are being adopted. Read the full article

FinTech foes join forces to launch multi-currency payment solution UPayCard

Two #1 Payments Power 10 superheroes have come together to drive FinTech innovation and reduce the complexity involved with payment legislation.

LONDON, January 15, 2018: International payments company Moorwand and leading global issuer processer GPS have joined forces to launch the UPayCard branded prepaid card solution to the UK market.

UPayCard is a global multi-currency service for businesses and consumers. It is the first programme to be launched by Moorwand and was brought to market in a record time of less than eight weeks.

Account users have access to a comprehensive multi-currency payment solution that allows them to easily make transfers between accounts present on the same UPayCard system. The service provides added value for both consumers and businesses alike, reducing time of fund transfers and enabling secure instant payments in currencies other than US Dollars.

Once seen as industry FinTech rivals, Robert Courtneidge, the newly appointed CEO of Moorwand, and Suresh Vaghjiani, Managing Director at GPS, recently stepped into a boxing ring dressed as the Joker and Batman respectively for the PayExpo 2017 Payments Punch-up - a lively annual debate on the hottest finTech topics of the day. Despite Suresh adding a third consecutive debate victory to his total, the two men have had a long lasting professional relationship and have always shared one common vision to drive change and innovation in the payments industry.

“It’s great to finally be on the same team as Suresh,” said Robert. “We are combining our unique strengths to ‘save the world’ – or at least to ‘rescue’ Programme Managers from the growing confusion of what is possible within the increasingly complex world of payments legislation and rules around BIN access to create a strong, transparent engagement with them. GPS is perfect for Moorwand as we need a partner that can move fast so our Programme Managers can leap ‘with a single bound’ into new products and markets with speed and confidence. We will also help them to work safely with the new ‘crypto –nite’ that is tainting the emerging payments industry. GPS has already helped us to rapidly launch the UPayCard Solution – and there is much more to come.”

Suresh Vaghjiani, Managing Director, GPS comments: “Robert’s recent appointment as CEO of Moorwand creates a compelling proposition for Programme Managers. With a lawyer of Robert’s calibre at the helm and his long and distinguished career as a specialist in payments law means that Moorwand’s BIN sponsorship solution is exactly what the market has been waiting for. We are delighted to have been selected by Moorwand to help them into their next phase of growth and their issuing services for cryptocurrencies.”

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About Moorwand

Moorwand Ltd. is an international business that provides payment services to merchants and customers in the EEA. They are licensed by the Financial Conduct Authority of the United Kingdom (license #500709) as a regulated Electronic Money Institution to issue electronic money (e-money) and provide payment services throughout EEA.  They are principal members of Mastercard and Visa as an Issuer of payment cards and an Acquirer of payment transactions. www.moorwand.com

About Global Processing Services

Global Processing Services (GPS) is the issuer processor enabling many of today’s most high-profile fintech innovators and disruptors. It is certified by Mastercard and Visa to process and manage any credit, debit or pre-paid card transaction globally.

GPS enables the emerging payments industry to deliver breakthrough innovations through a unique combination of proprietary technology, its people and partners.

At the heart of its capability is GPS Apex, its single global issuer processing platform. Built entirely by its own payment experts, GPS Apex offers easy integration with Issuers, Programme Managers, card manufacturers and many other service providers.

It has integrated with over 40 issuing banks globally and operates programmes for 100+ clients in 60 countries using over 150 currencies, enabling its clients to innovate and deliver exciting new value propositions for end users around the world.

www.globalprocessing.net 

Media enquiries:

Moorwand

Sarah Broughton
sarah@bluetrain.co.uk
T: 07890 463 063

Global Processing Services
Nim Haas
NHaas@globalprocessing.net
T: 020 7553 8845

CashFlows joins the Prepaid International Forum

Membership on the rise as PIF welcomes leading FinTech solutions provider

London, 08 January 2018 - The Prepaid International Forum (PIF), the not-for-profit trade association representing the prepaid financial services sector, today announced CashFlows, a fast-growing, innovative provider of payment solutions, as its latest member.

PIF is the not-for-profit trade association representing the prepaid financial services sector. As an industry body, PIF advocates for policies and standards that protect and enhance the use of prepaid as an enabler of innovative products and services that are transforming the way we pay and get paid. Led by a member-elected Board of Directors since 2007, PIF works hard to ensure members are well represented and supported within the industry.

About CashFlows
CashFlows' payment solutions enable businesses to accept multi-channel payments from all major card schemes and issue innovative prepaid products to their customer base.

CashFlows is a leading provider of European BIN sponsorship services enabling cost and resource efficient scheme access to companies desiring to launch a prepaid card.

Regulated by the UK Financial Conduct Authority CashFlows is an electronic money institution, and is a principal member of Visa, Mastercard and other international card schemes.

PIF’s Commercial Director, Diane Brocklebank said:
“We’re delighted to welcome CashFlows as our latest member. Their knowledge and expertise in the fast-growing FinTech arena augments the strength and profile of the PIF membership and we’re very excited to have their support.”

CashFlows Chief Commercial Officer, Jonathan Bennett said:
“CashFlows is looking forward to becoming an active member of the PIF community and assisting in building positive awareness of prepaid products and services.”

NOTES TO EDITORS

About PIF
The Prepaid International Forum (PIF) is the not-for-profit trade association representing the prepaid financial services sector. Driven by a belief that consumers should be confident in the security of prepaid products and the money that is stored on their behalf, PIF advocates for policies and standards that protect and enhance the use of prepaid as a payment solution.

PIF works closely with industry, regulators, government departments, consumer bodies and the media to promote understanding of prepaid as well as providing support and education to proponents of prepaid worldwide. To learn more about PIF visit www.prepaidforum.org

Global Processing Services selected to accompany the Rt. Hon. Lord Mayor of the City of London on FinTech delegation to Australia and New Zealand

London, 5 January 2018 -  The Prepaid International Forum (PIF), the not-for-profit trade association representing the prepaid financial services sector, is delighted to announce that Suresh Vaghjiani, Managing Director of Global Processing Services has been selected to join the Lord Mayor’s business delegation to the Southern Hemisphere in February 2018.

The Rt. Hon. Lord Mayor of the City of London is the international ambassador for the UK’s financial and professional services sector whose overseas visits offer a unique opportunity to gain access to key international decision-makers in government and business.

Suresh Vaghjiani will join a busy schedule of events in key business hubs including Sydney, Melbourne and Auckland from 9-23 February. The visit will include briefings on Brexit and the future of the City of London and panel discussions focused on innovation, cybersecurity and opportunities for UK & ANZ FinTech collaboration.

PIF’s Commercial Director Diane Brocklebank comments: "We are very proud that GPS has been chosen to accompany the Lord Mayor on this historical visit. GPS is a proactive member of PIF and a key contributor to the UK’s FinTech success story. "

About Global Processing Services
Global Processing Services (GPS) is the payments issuer processor enabling many of today’s most high-profile fintech innovators and disruptors. It is certified by Mastercard and Visa to process and manage any credit, debit or prepaid card transaction globally.

GPS enables the emerging payments industry to deliver breakthrough innovations through a unique combination of proprietary technology, its people and partners.

At the heart of its capability is GPS Apex, its single global issuer processing platform. Built entirely by its own payment experts, GPS Apex offers easy integration with Issuers, Programme Managers, card manufacturers and many other service providers.

For more information, visit www.globalpropcessing.net or follow us on Twitter @GPS_Processor

Locke Lord Names Siobhan Moore Global Head of Cards and Payments Practice

(LONDON) January 4, 2018 – Locke Lord’s Siobhan Moore, an experienced cards and payments lawyer with a strong profile in the payments industry, has been named Global Head of the Firm’s Cards and Payments Practice. Moore, who is based in the Firm’s London office, most recently served as head of the group in Europe.

Moore succeeds Robert Courtneidge, who has been named CEO of international payments business Moorwand. Courtneidge will continue to maintain a close relationship with the Firm on a consultancy basis.

“Siobhan is a highly talented lawyer, a natural team leader and a highly regarded member of the Locke Lord team,” said James Channo, Managing Partner of Locke Lord’s London office.

“Robert has made an outstanding contribution to Locke Lord, and we wish him every success as he takes on this exciting new role with Moorwand. We have every confidence that Siobhan’s leadership will propel this extraordinary team to continued success.”

Moore works with clients who provide or operate a diverse range of services that touch the cards and payments sector. These clients range from gift card providers, e-money issuers, acquiring businesses and other regulated payment service businesses to technology providers that sit outside and within the financial regulatory framework. She regularly liaises with regulators and drafts and negotiates partner agreements and customer-facing documentation. She advises on product structure, business strategy and runs regulatory workshops. Moore is a director of the Prepaid International Forum and has been on the advisory board of the UK Gift Card & Voucher Association for more than seven years. She is also a frequent speaker at industry conferences throughout the world.

Locke Lord’s Cards and Payments Practice continues to be at the forefront of payment services. The group has a strong international presence, leading clients through the financial regulatory maze with clear and consistent advice, whether they are new to e-money issues, seek counsel on the latest regulations or want to expand their business internationally. The team has been recognised in The Legal 500 UK.

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About Locke Lord / London
Locke Lord’s London office advises major corporations, financial institutions, individuals and overseas-based investors in the areas of asset finance, banking and finance, capital markets, corporate M&A, dispute resolution, employment, energy, financial services, general commercial, insurance and reinsurance, intellectual property, real estate, and restructuring and insolvency. As an integral part of Locke Lord's global presence, Locke Lord's London office serves clients in the UK and United States and throughout Europe, the Middle East, Africa and Asia. www.lockelord.com

International Payments Business Moorwand Ltd appoints Robert Courtneidge as CEO

LONDON – January 4, 2018 – Robert Courtneidge has been named as CEO of international payments business Moorwand to drive the business into a new phase of growth. Robert will take on the role from 4th January 2018 while ensuring a seamless hand-over of his prior responsibilities as Global Head of Cards & Payments at Locke Lord LLP.

Moorwand is a principal member of Mastercard and Visa, providing payment services to merchants and customers in the EEA. Its head office is in London where Robert will be based.

As CEO, Robert will leverage his deep knowledge and experience of payments and e-money accumulated over the past 27 years, working with major global financial institutions. For the past six years, Robert has been named amongst the Payments Power 10, a highly competitive ranking of the most influential payments industry contributors. He is also Non Executive Board Director/Strategic Advisor to a number of diverse and complementary payment companies and Founder/Board Advisor to two key industry Trade Associations. As a payments lawyer, Robert consistently ranked as tier 1 in key international law directories. In 2015, Robert achieved the distinction of being the only non-American named in top 10 payments lawyers globally by Paybefore.

‘We are excited to welcome Robert to Moorwand as our CEO,’ said Mark Wheeler, Managing Director, Moorwand. ‘Robert is uniquely qualified for this role given his experience and understanding of the entire payments ecosystem including major financial institutions, international technology providers and more. This combined with his strategic insights and dynamic leadership skills will help us accelerate the international growth of Moorwand.’

Siobhan Moore will lead the Cards & Payments team at Locke Lord. Siobhan, who most recently served as head of the group in Europe, has been with Locke Lord for over six years and is an experienced cards and payments lawyer with a strong profile in the payments industry. She is a director of the Prepaid International Forum and has been on the advisory board of the UKGCVA for more than seven years.

‘Siobhan is a highly talented lawyer, a natural team leader and a highly regarded member of the Locke Lord team,’ said James Channo, Managing Partner of Locke Lord’s London office. ‘Robert has made an outstanding contribution to Locke Lord and will continue to maintain a close relationship with the Firm on a consultancy basis. We wish him every success as he takes on this exciting new role with Moorwand.’

###

About Moorwand
Moorwand Ltd. is an international business that provides payment services to merchants and customers in the EEA. They are licensed by the Financial Conduct Authority of the United Kingdom (license #500709) as a regulated Electronic Money Institution to issue electronic money (e-money) and provide payment services throughout EEA. They are principal members of Mastercard and Visa as an Issuer of payment cards and an Acquirer of payment transactions. For more information visit www.moorwand.com

About Locke Lord LLP
Locke Lord is a full-service, international law firm of 20 offices designed to meet clients’ needs around the world. The Firm has a history that spans more than 130 years and is a worldwide leader in the middle market sector. Locke Lord advises clients across a broad spectrum of industries including energy, financial services, fund formation, health care, insurance and reinsurance, private equity and venture capital, public finance, real estate, and technology, media and telecommunications, while providing a wealth of experience through its complex litigation, intellectual property, tax, regulatory and transactional teams.

Moorwand media enquiries:
Sarah Broughton
Blue Train Marketing
sarah@bluetrain.co.uk
T: +44 (0) 7890 463063

Locke Lord LLP media enquiries:
Locke Lord LLP
Kristen Bugaris
Director of Communications
kristen.bugaris@lockelord.com
T: +1 312-443-1702

Paysafe scoops Best Customer Policy accolade from Forbes Bulgaria Business Awards 2017

Accolade follows a spate of recent award wins for Paysafe in employee engagement, product innovation and leadership

SOFIA, BULGARIA, 21 December, 2017 – Paysafe Group Limited, a leading global payments provider, has completed the year by winning another high profile industry award, this time winning in the Best Customer Policy category at the Forbes Bulgaria Business Awards 2017.

The annual event, which recognises best business practices and entrepreneurial spirit showcased the companies and people contributing to the Bulgarian economy.

Home to more than 900 of 2,600 staff located in 12 global locations, Paysafe’s Sofia office is an important hub for the company’s global operations, including technology, infrastructure, risk, fraud and customer services.

Paysafe provides comprehensive payment solutions for merchants and consumers worldwide and the team in Bulgaria is responsible for servicing the company’s global customer base 24/7 across 18 different languages. More than 200 customer relations experts work out of a state-of-the-art technology centre, all dedicated to providing top class, personalised customer service.

Miroslav Bojilov, General Manager of Paysafe Bulgaria, commented: “At Paysafe, we pride ourselves on delivering first-class customer service to the thousands of businesses and consumers around the world that rely on us. We balance speed with accuracy and a human touch. We are constantly developing the capabilities of our team and the motivational working environment we create for our employees comes across in the way we expertly service our customers. This award is great recognition for the hard work and dedication of our whole team.”

Paysafe moved into a new facility in Sofia at the end of 2015 and has gradually expanded its office space to occupy seven floors, accommodating more than 800 employees in Capital Fort, one of the most modern office buildings in Sofia – itself an award winner in 2017.

This latest award follows a string of recent awards for Paysafe, who, earlier in the month was ranked highly by  Glassdoor Paysafe being rated as one of Canada's top two employers in the Glassdoor Employees' Choice.  Last month, the company picked up two high profile awards in the UK: ‘Best Merchant Acquirer/ Processor’ and ‘Payments Pioneer’ which was awarded to Andrea Dunlop, Paysafe’s CEO of Acquiring & Card Solutions. Meanwhile, paysafecard, the organisation that delivers its leading pre-paid solution, was named one of ‘Austria's Leading Companies’ for the fourth year running.

XXX

About Paysafe

Paysafe is a leading global provider of end-to-end payment solutions. Our core purpose is to enable businesses and consumers to connect and transact seamlessly through our industry-leading capabilities in payment processing, digital wallets and online cash solutions. Delivered through an integrated platform, our solutions are geared towards mobile-initiated transactions, real-time analytics and the convergence between bricks-and-mortar and online payments. With over 20 years of online payment experience, a combined transactional volume of US$48 billion in 2016 and over 2,600 staff located in 12 global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world. For more information, visit: www.paysafe.com.

Follow Paysafe on Twitter / LinkedIn / Google + / stories.paysafe.com

For more information, please contact:

Paysafe Group Limited

VP, Corporate Communications
Kate Aldridge
T: +44 (0) 203 934 9197 /  Kate.Aldridge@paysafe.com

PIF in the news: “Friday will be biggest ever bonus day in UK”

Source: The HR Director: More people than ever before are expected to get an extra gift from their bosses by this Friday (22 December) as employers spend millions on festive bonuses and parties to counter threats of skill and worker shortages in 2018. Contributor Alastair Graham, Spokesperson – PIF.

The annual study by the Prepaid International Forum (PIF) of 2,000 UK workplaces reveals a 23 percent increase in the number of employees due to receive a festive reward or bonus. Just over one in five (21 percent) workers are due to get a Christmas bonus this year, compared to just 14 percent last year and 7 percent in 2014.

These findings are supported by reports from prepaid companies that provide services to employers looking to distribute Christmas rewards.

One member of PIF, One4All Rewards, a leading provider of corporate incentives, which provides multi-retail prepaid gift cards such as staff bonus or reward schemes, reports that sales to corporate and SME customers have risen by 25 percent, compared to the same period last year.

However, this generosity has more to do with business than it does Christmas spirit. Employers admit that their main motivation for such generosity is to retain staff after a year dominated by headlines about skills shortages and concerns about Brexit making it harder to recruit in 2018.

Alastair Graham, spokesperson for PIF, says: “Our study shows that businesses increasingly understand the importance of retaining their best staff and the impact that providing an annual “thank you” has on loyalty and motivation. “Christmas is a traditional time to show workers that you appreciate their efforts and provide a little extra to help them celebrate and enjoy themselves over the festive period.” Commenting on the rising trend Alan Smith, managing director of One4all Rewards said,

“We’re seeing companies plan their annual rewards earlier this year and in bigger numbers. It’s also noticeable how it’s not just large corporates that are planning their bonuses and rewards. Increasingly, smaller businesses are also getting in on the act. “We’ve carried out studies that show that even smaller value bonuses paid through non cash devices like gift cards can have a huge impact on staff motivation and loyalty, particularly with younger workers and those on lower wages for whom a little extra makes a big difference.”

Christmas parties also seem to be getting a boost this year.

Payment Card Solutions (PCS), another PIF member, has noted a 400 percent increase on last year from businesses ordering its prepaid cards to be used for Christmas party spending.

Paul Swinton, CEO of PCS, commented: “We’re especially seeing uptake from businesses with large national networks. More cards are being issued to managers with which to treat staff and help each store or office to organise their own Christmas party and use the prepaid card to fund the evening.”

Alastair Graham of PIF concluded that the attractiveness of its members’ prepaid gift and payment products to companies making bonus payments is that they all are regulated products. The strong customer protection they are required to provide under EU E-money Regulations ensures that all recipients really do have a very happy Christmas.

In-demand workers can expect a very happy Christmas

Spending on festive rewards and Christmas parties rockets as bosses look to retain staff in 2018

Employers are working harder to keep staff happy this Christmas, spending millions on festive bonuses and parties, to counter threats of skill and worker shortages in 2018.

The annual study by the Prepaid International Forum (PIF) of 2,000 UK workplaces reveals a 23% increase in the number of employees due to receive a festive reward or bonus.

Just over one in five (21%) workers are due to get a Christmas bonus this year, compared to just 14% last year and 7% in 2014.

These findings are supported by reports from prepaid companies who provide services to employers looking to distribute Christmas rewards.

One member of PIF, One4All Rewards, a leading provider of corporate incentives which provides multi-retail prepaid gift cards as staff bonus or reward schemes, reports that sales to corporate and SME customers have risen by 25% compared to the same period last year.

However, this generosity has more do with business than it does Christmas spirit.  Employers admit that their main motivation for such generosity is to retain staff after a year dominated by headlines about skills shortages and concerns about Brexit making it harder to recruit in 2018.

Alastair Graham, spokesperson for PIF, says:

“Our study shows that businesses increasingly understand the importance of retaining their best staff and the impact that providing an annual “thank you” has on loyalty and motivation.

“Christmas is a traditional time to show workers that you appreciate their efforts and provide a little extra to help them celebrate and enjoy themselves over the festive period.”

Commenting on the rising trend Alan Smith, Managing Director of One4all Rewards said,

“We’re seeing companies plan their annual rewards earlier this year and in bigger numbers.  It’s also noticeable how it’s not just large corporates who are planning their bonuses and rewards.  Increasingly smaller businesses are also getting in on the act.

“We’ve carried out studies that show that even smaller  value bonuses paid through non cash devices like gift cards can have a huge impact on staff motivation and loyalty, particularly with younger workers and those on lower wages for whom a little extra makes a big difference.”

Christmas parties also seem to be getting a boost this year.

Payment Card Solutions (PCS), another PIF member, has noted a 400% increase on last year from businesses ordering its prepaid cards to be used for Christmas party spending.

Paul Swinton, CEO of PCS, commented

“We’re especially seeing uptake from businesses with large national networks, issuing more cards to managers with which to treat staff. This helps each store or office to organise their own Christmas party and use the prepaid card to fund the evening for staff.”

Alastair Graham of PIF concluded that the attractiveness of its members’ prepaid gift and payment products to companies making bonus payments is that they all are regulated products. The strong customer protection they are required to provide under EU E-money Regulations ensures that all recipients really do have a very happy Christmas.

 

ENDS

Notes to Editors

About PIF

The Prepaid International Forum (PIF) is the not-for-profit trade association representing the prepaid financial services sector. Driven by a belief that prepayment is a responsible way to pay for goods and services, and that consumers should be confident in the security of prepaid products and the money that is stored on their behalf, PIF advocates for policies and standards that enhance and protect the use of prepaid as a payment solution. The PIF membership represents every aspect of the prepaid value chain, from providers of prepaid products and services to card schemes, payment processors and a variety of other businesses aligned to the sector. For further information visit www.prepaidforum.org

For further information

Steve Leigh
PR Agency One
T: 0161 871 9140
M: 07734 805 499
E: steve@pragencyone.co.uk

James Crawford
PR Agency One
T: 0161 871 9140
M: 07793 441 686
E: james@pragencyone.co.uk

 

allpay wins Best Prepaid Card Solution at the Payments Awards

15 November 2017 - allpay Limited took home the award for Best Prepaid Card Solution at the Payments Awards last night. In addition to the win, they were also runners up in the Best Merchant Acquirer or Processor category. The Payments Awards, hosted at the Grosvenor Square Marriot in London, are a celebration of excellence and innovation within the payments sector.

The win follows a successful year for the payments specialist, who now collect more than £7bn per year from over 67 million transactions. Since 2009, allpay has pioneered the use of prepaid cards across the private and public sectors, delivering disbursement solutions to local authorities, housing associations, charities and banks.

In addition to working with more than 80 local authorities, and managing in excess of 110 different programs for City of Edinburgh, Birmingham City Council and several  London boroughs including Southwark and Camden – allpay is a trusted partner to local authorities, housing associations, banks and charities. Reducing the cost and administration of paying out funds, allpay's prepaid solution streamlines accounting efficiency and offers end users bank account lite features, including direct debits and standing orders.

As a principle member of Mastercard for issuance, and accreditation from Mastercard, Visa and American Express, allpay manufactures and personalises all cards in-house at its bureau which produces circa 20 million secure debit, credit and prepaid cards per annum.

Joanna Pavlides, Local Welfare Assistance and Benefits Support Manager from Ealing Council, said:

“The instant issue cards are an efficient, safe and fast way to provide emergency payments to residents in need. The cards also help manage the funding in a more cost-effective way as any unspent money can be clawed back by the Council. The ability to block certain merchants allows us to make sure that the money is spent for the purpose it was provided and online reports allow us to monitor activity in real-time.”

The Payments Awards are organised by FStech and sister title Retail Systems. This year was the 5th year of the awards and since its debut, has become a staple of the cards and payments sector. The awards allow the sector to distinguish individuals, companies and organisations who have launched and implemented the most outstanding payment solutions, initiatives, and projects during the year.

To learn more about allpay, please visit http://www.allpay.net/