Global Processing Services supports Apple Pay for Issuers

LONDON, UK – September 7, 2017 – Global Processing Services (GPS), a leading payments processor, now supports Apple Pay using Mastercard Digital Enablement Service (MDES). Apple Pay is now available to all clients using the pioneering GPS Apex platform. Apple Pay is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient.

MDES is a tokenisation solution that integrates with Programme Managers to offer Apple Pay to cardholders so they can make secure mobile payments in stores, in app and on the web using their iPhone, iPad or Apple Watch.

“Our clients are innovators who are keen to offer these services to their customers, so we’re delighted to be able to offer Apple Pay to our clients today,” said Suresh Vaghjiani, Managing Director, GPS. “Our platform supports quick, simple and secure payment options. The introduction of Apple Pay is just one of the transformational mobile payments solutions that is delivering a better experience for the end user.“

Security and privacy is at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.

“We have seen a surge in interest for mobile payments since Apple Pay entered the market,” continued Suresh.  “With MDES, we are future-proofing the GPS Apex platform by enabling us to easily add additional token requestors and offer a global standard that operates worldwide.”

Apple Pay is easy to set up and users will continue to receive all of the rewards and benefits offered by credit and debit cards. In stores, Apple Pay works with iPhone SE, iPhone 6 and later, and Apple Watch.

Online shopping in apps and on websites accepting Apple Pay is as simple as the touch of a finger with Touch ID, so there’s no need to manually fill out lengthy account forms or repeatedly type in shipping and billing information. When paying for goods and services on the go in apps or Safari, Apple Pay works with iPhone 6 and later, iPhone SE, iPad Pro, iPad Air 2, and iPad mini 3 and later. You can also use Apple Pay in Safari on any Mac introduced in or after 2012 running macOS Sierra and confirm the payment with iPhone 6 or later or Apple Watch, or with Touch ID on the new MacBook Pro.

For more information on Apple Pay, visit: https://www.apple.com/uk/apple-pay/

-ends-

About Global Processing Services

GPS is the market leading processor for both established emerging payments companies and the most innovative fintech businesses; a PCI-DSS Level 1 Service Provider accredited globally by Visa and Mastercard, GPS offers a global solution with access to banking schemes such as BACS and SEPA. For more information visit www.globalprocessing.net

Contact for Media Enquiries:
Sarah Broughton

Marketing and Communications Consultant

SBroughton@globalprocessing.net

07890 463063

PIF Announces Keynote Interview for Eleventh Annual Summit

Suresh Vaghjiani of award-winning Global Processing Services to deliver Keynote Interview on The Fall and Rise of the FinTech Empire at the PIF Summit 2017  

London, 01 September 2017 – The Prepaid International Forum (PIF), the not-for-profit trade association representing the prepaid financial services sector, is delighted to announce further details for its annual Summit taking place on 20-21 September at Lainston House in Winchester.

The 2017 Keynote Interview will see Suresh Vaghjiani, global payments trailblazer and Managing Director of Global Processing Services, in conversation with industry pundits Robert Courtneidge and Siobhan Moore.

Drawing on a wealth of knowledge in global payments, Suresh will deliver a unique perspective on the current state of the FinTech sector. From the explosive growth of new FinTech entrants and their impact on prepaid market development to working with an abundance of new players whilst striving to bring more choice, greater security and better resilience to the sector.

Commenting ahead of the event, Suresh Vaghjiani said “Traditional banks have always had a monopoly on the services they offer and with this an arrogance to new entrants to the market.

“We are now seeing a shift in power for the first time in banking history where they simply cannot ignore the revolution that has started in their back yard”

Now in its eleventh year, the PIF Summit has become firmly established as a leading destination for high-level discussion and debate on the future for global prepaid. Attracting the attention of leading and emerging industry organisations the PIF Summit explores the prepaid trends, solutions and technology driving innovation in payments and analyses the impact of regulatory change.

Diane Brocklebank, Commercial Director of PIF said: “We are excited to announce the 2017 Keynote Interview with Suresh. As one of the most inspiring thought-leaders in payments, his experience and wisdom will challenge our thinking on FinTechs and the future for prepaid.”

Notes to Editors

About Suresh Vaghjiani:

Suresh is Managing Director of Global Processing Services, an award-winning processor for credit, debit and prepaid. GPS provides services to some of the largest FinTechs globally as well as providing services to ‘next generation banks’. The GPS platform is not only known for its flexibility but it is also ranked as the fastest growing processor in Europe.

Suresh brings a wealth of knowledge in global payments. In his former role as Head of Issuing at Paysafe Group PLC, Suresh successfully established the Issuing and newly formed Card Services division. Being a founding member of Kalixa Payments Group, in his role as Head of Kalixa Pay, Suresh worked with TfL to pilot some of the first contactless prepaid products to use on the London transport network. In 2011, he launched the first ever contactless wristwatch in the UK. This is in addition to being responsible for launching the first App controlled NFC solution for iPhone in Europe.

Suresh is also an elected advisory member of the Emerging Payments Association and project leader for the EPA’s project International Trade. In this capacity, Suresh has represented the UK government on a number of trade missions including Mexico, Canada and Serbia. He has also hosted a meeting with senior UK government ministers including the current Foreign Secretary of State Boris Johnson.

Suresh was recently selected to join the working group for the Payment Strategy Forum which will help shape changes in the payments industry that the FCA will make through the Payment Systems Regulator.

A solution driven innovator, with a track record of developing products and services that meet the customers’ current and future needs, Suresh is passionate about innovation and bringing the emerging payments sector to the main stream. He has a substantial understanding of electronic money, throughout its complete value chain from Issuing to Acquiring, with strategic knowledge on what works and does not work in various international markets. Suresh has been voted into the Payments Power 10 for the second year running, a top ten list of key influencers in the payments industry.  In 2017 Suresh became the first European in its 11-year history to be awarded the prestigious Industry achievement award by Paybefore magazine.

About the PIF Summit 2017:

Now in its eleventh year, the PIF Summit has become a leading destination for high-level discussion and debate on the hot topics in prepaid. It brings together leading industry organisations to discuss the future for the evolving prepaid sector from a business, innovation and regulatory perspective. Attendees will hear from industry pioneers, the businesses innovating for the future and the companies executing new approaches that are set to transform the way we pay and get paid.

The PIF Summit begins with the PIF annual reception and dinner on Wednesday, 20 September and concludes at 17:30 on Thursday, 22 September. The programme for PIF members begins with the AGM from 14:00 – 17:00 on 20 September.

Event sponsors include Global Processing Services (Headline Sponsor), One4all and Know Your Customer. Event partners include Paybefore and Bandwidth Recruitment.

For further information and to register, please visit: www.prepaidforum.org/pif-agm-summit-2017/

About PIF:

The Prepaid International Forum (PIF), is the not-for-profit trade association formed in 2007 to represent 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. Throughout its 11 year history, PIF has supported its member organisations and the growth of the sector to become a trusted and influential advocate for prepaid. For further information please visit www.prepaidforum.org

 

 

 

Payment Card Solutions (PCS) is granted authorisation as a Payment Institute (API)

Wednesday 30th August 2017 - Payment Card Solutions (PCS) is granted Authorised Payment Institute (API) status by the Financial Conduct Authority (FCA).

PCS services over 700 corporate customers, issuing hundreds of thousands of prepaid cards across Europe. This new status will enable it to further enhance its product set and expand operations by offering additional payment services under its own licence whilst expanding the core functionality contained within its in-house software platform.

“We will continue to maintain our excellent relationships with our e-money bin sponsorship partners and continue to grow the prepaid side of our business but this new status gives us increased access to the value chain and to offer additional payment services including bill payments to our wide ranging customer base. This is an exciting period of growth for PCS as our main products have grown by over 200% in the last year and we are looking to expand further in 2018. Obtaining FCA authorisation was a natural next step for PCS as many of the processes required have been in place for many years, however we would like to thank Neopay for their support in helping with the application” - Paul Swinton, CEO

PCS also recently joined industry body, the Prepaid International Forum (PIF) and will play its part in helping shape both prepaid and fintech for the future.

About Payment Card Solutions
PCS is the UK's most trusted prepaid payment card specialist, providing systems, compliance and customer services teams to operate some of the UK's most successful prepaid card programs.
Since our inception in 2006 we have grown to be one of the UK's most respected prepaid specialists. We combine industry knowledge and IT expertise to offer the best prepaid solutions in Europe. We have an open API and can help you integrate prepaid into your business.

PCS is now authorised by the Financial Conduct Authority as a Payments Institute under registration 777613.

eMerchantPay becomes Authorised Electronic Money Institution (EMI)

eMerchantPay achieves comprehensive corporate, financial and operational structures, practices, policies and procedures in accordance with the Electronic Money Regulations 2011.

London, August 4th, 2017eMerchantPay, a leading global payments service provider, is now registered as an Authorised Electronic Money Institution (EMI). This enables the company to further enhance its product offering through the development of new payment channels.

Online businesses will benefit from increased customer conversions with a host of payment services such as: payouts, eWallets, pre-paid cards and more, delivered as a one stop shop.

Continuing its involvement in the payments industry, eMerchantPay has also joined the Prepaid International Forum (PIF), helping shape the pre-paid landscape on behalf of its merchants and partners.

“The EMI license allows for the opportunity to develop new payments capabilities for our merchants who in turn will benefit from additional revenue streams. We continue to invest in our payments technology and look forward to working closely with PIF, providing a unified voice for the pre-paid sector.” – Jonas Reynisson, CEO.

About eMerchantPay

eMerchantPay is a leading online, mobile and POS payment service provider. We help e-commerce businesses of all sizes and sectors accept payments via multiple customer touch points. Designed to increase conversions, our offering includes robust payment processing technology, coupled with popular alternative payment methods and a range of acquiring services. eMerchantPay Limited is registered as an Authorised Electronic Money Institution (EMI) and has the FCA’s permission to issue electronic money (e-money) and provide payment services under registration number 900778.

About the FCA

The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the UK’s financial markets.

paysafecard launches cash based online payment solution to the United Arab Emirates

Providing alternative, secure and compliant payments for online purchases within region

VIENNA, 31 July 2017 – paysafecard, a global leader in online prepaid payment methods and part of Paysafe Group plc, enters the United Arab Emirates, offering a secure and fast prepaid payment solution that will not require bank or credit card details.

The UAE continues to embrace technology innovation in line with its government's 'Smart Dubai' initiative to transform Dubai into the world's smartest city. With Samsung, Apple and many other international technology companies taking advantage of the governments initiative and support, digital payment systems have become a key area of focus which made moving into the UAE a logical step for paysafecard. The UAE are ranked ninth in gross national product per capita when adjusted for purchasing power, placing it above countries such as Switzerland . Internet usage is also at more than 93% , almost 65% of the 5.8 million-strong population use mobile broadband internet . Cash affinity is still very high and credit card penetration is rather low.

“The UAE is an ideal market for our business expansion given the GNP, Internet usage, demographics and low credit card usage. Being able to offer paysafecard in the UAE brings great value for the customers because it allows them to use their preferred payment method (cash) to pay online quickly and safely as well as for local brick-and-mortar shops. By offering an established prepaid payment method such as Paysafe’s paysafecard a bridge is created between e-commerce and the brick-and-mortar shops. By selling paysafecard, shops can not only generate new customers, increase customer satisfaction and customer loyalty, but they can also earn money in what is a classic e-commerce process. In addition, customer traffic increases because paysafecard users are regular customers for the most part,” comments Udo Müller, CEO, paysafecard.

The prepaid specialists are making their start in the UAE in cooperation with sales partner uPay, which will offer the payment method at 300 vending machines. Currently, paysafecard is already available in the emerging MENA region; in both Saudi Arabia and Kuwait.

"We are proud to bring paysafecard to the UAE and providing a leading prepaid payment method to the internet users of our country. In doing so, we fill a gap that for many people here was a real obstacle to using the opportunities of the internet when it comes to convenient and safe payments. We look forward to a successful cooperation that will benefit all parties involved." comments Mr. Timur Turpalov from uPay.

About paysafecard

Paysafe Group offers prepaid solutions with the brands paysafecard and my paysafecard. Growth was 14% in the 2016 financial year, and 11% the year previous. paysafecard achieved a 2.8 billion prepaid transaction volume in 2016 across all merchant transactions. paysafecard is a prepaid online payment method available in 44 countries and at over 500,000 sales outlets. paysafecard is available to everyone – customers need neither a bank account nor a credit card. Paying requires simply entering the 16-digit paysafecard PIN. paysafecard, from its headquarters in Vienna, has become one of the market leaders in prepaid payment solutions with the brands paysafecard, my paysafecard and paysafecard Mastercard®. The company was founded in Austria in 2000, and belongs to Paysafe Group PLC. Paysafe shares are traded on the London Stock Exchange under the ticker symbol (PAYS.L).

Become a paysafecard fan on Facebook, visit us at Google+ ans well as YouTube, follow us on Twitter, stay informed via our Corporate Blog and take a look at our Media Information Service.

About Paysafe

Paysafe provides digital payments and transaction-related solutions to businesses and consumers around the world. Paysafe is redefining payments by enabling fast, convenient and secure ways to pay before, pay now and pay later through its payment processing, digital wallets, prepaid solutions and card issuing, and acquiring products and services. We believe that every point of every payment should be relevant, simple and secure. With two decades of experience, Paysafe is trusted by businesses and consumers to move and manage money through more than 100 payment types and 40 currencies. Paysafe offers multi-platform products with an emphasis on emerging payment technologies including mobile. Paysafe's brand portfolio includes NETELLER® and Skrill®, MeritCard, paysafecard®, payolution®, Income Access and FANS Entertainment. Paysafe Group plc shares trade on the London Stock Exchange under the symbol (PAYS.L). For more information, visit: www.paysafe.com. Find out more at www.paysafecard.com. For more information aboute Paysafe, visit www.paysafe.com. For further information, contact:

paysafecard
Robert Bauer, asoluto public + interactive relations | presse@paysafecard.com | +43 1 533 36 53-60

Battle of Britain’s Holiday Spending Heats Up

Source: Fintech Finance

Firms seek to win over cost-conscious holidaymakers with money-saving solutions and incentives

Rip-off deals and poor exchange rates are kick-starting a battle for the nation’s travel money this summer, with payment providers creating cost-saving solutions to target the wallets of cost-conscious holidaymakers.

According to the Prepaid International Forum (PIF), the not-for-profit trade body representing the prepaid financial services sector, holidaymakers are facing a huge difference in the cost of spending money abroad this summer with a  growing range of payment methods and associated deals on offer.

A study* of the best and worst value options on the market showed a 19.5% difference on Euro spending (€96 for every £500 spent) and a 17.5% difference for US Dollars ($92 for every £500 spent).

If this wasn’t motivation enough to shop around, the weak pound is contributing to rocketing costs in some popular destinations.  For example, the price of holiday spending in Nice, France for British visitors has increased by 38% in the last year according to the Post Office’s Holiday Costs Barometer report for 2017 reflecting the weakening Pound to Euro.

To ensure they aren’t suffering from poor deals and the after-effects of Brexit-influenced exchange rates, PIF’s experts are recommending that consumers shop around for the best deals and check the costs incurred when spending money abroad.

Alastair Graham, PIF spokesperson, comments, “In previous years consumers have absorbed the extra costs and fees levied on spending abroad, not wanting to spoil their holiday by counting the pennies.  However, worsening exchange rates and greater disparities in price between available options, means that this summer, travellers are keen to cash-in on ways to save money.

“Fees on domestic debit and credit cards when used abroad are a common bug bear, as are fluctuations in exchange rates which make it hard to be sure exactly what bill you’ll face on arriving home.  Cash is always an option, but increasingly travellers are aware of the security risk this presents.

“To provide an alternative, we are seeing innovation from prepaid providers that aim to appeal to consumers fed up with traditional, expensive solutions

Helping Reduce Costs for Consumers

Specialist payment providers such as, FairFX, offers the security of spending on a card (and so not carrying large sums of cash abroad) but without the accompanying high fees and extra charges.

A study carried out by FairFX reveals that the average fee to use your debit card and credit card abroad is 2.8% and 3.5% respectively. Switching to prepaid solutions avoids this charge and also means that consumers aren’t at the mercy of the exchange rate on the day you use it.  Instead FairFX allows you to preload a card at a fixed exchange rate (allowing you to pick the most favourable time to exchange).  This, combined with lower commission rates, can add up to considerable savings.

According to FairFX, such services also reflect how savvy consumers are choosing to exchange money.

FairFX CCO James Hickman says: “When the pound was stronger, consumers didn’t pay as much attention to the impact that exchange rates can have on holiday costs. However, in the last 18 months, and particularly since the Brexit referendum, there has been a significant change in focus. With poorer exchange rates against major currencies including the euro and the US dollar, consumers are getting less for their pound than they were two summers ago. 

“Planning ahead is key; one in 10 of us leave travel money until the last minute but this means you limit any control and are forced to accept whatever rate is available on the day. In the same way as you should book your travel insurance when you book your holiday, you should start planning your travel money at the same time – if not before. By monitoring exchange rates, many customers are now buying when the rates are at their strongest and get the biggest bang for your buck. If you don’t have time, the free FairFX travel money tracker will do this for you.”

Added benefits to tempt consumers

Providers are also adding additional benefits to holiday spending services to tempt consumers.

Research carried out by Tuxedo Money Solutions and Escape Travel Card, reveals that having holiday cash stolen is still a major concern for 70% of British holidaymakers.  Despite this fact, 54% still opt to carry large sums of cash to avoid banking fees and charges.

Rob Darby of Tuxedo Money Solutions says: “To provide a solution to this problem the Escape Travel Card programme, developed by Tuxedo Money Solutions, offers holidaymakers a safe and convenient way to carry money, while also eliminating the costly card fees on purchases made abroad.

“Holidaymakers can preload the card with up to £5,000 and if the card does happen to get lost or stolen it can be locked immediately with a single SMS text message, keeping valuable travel funds safe and sound until a new card can be delivered.”

Another provider, Mastercard, is even throwing in access to over 1 million, free, global Wi-Fi hotspots to sweeten the deal for holidaymakers.  People signing up to its Platinum Prepaid Travel Card are signed up to Boingo Wi-Fi helping to keep them connected while abroad.

PIF Summer Networking Evening & Prepaid Masterclass

The Prepaid International Forum (PIF) will be holding its annual summer networking evening in London on Thursday, 20 July from 6:00pm onwards.

To coincide with the event, PIF will also be running a Prepaid Masterclass from 4:30 - 6:00pm.

About the Prepaid Masterclass

Many of the most significant prepaid industry challenges will be met in the future by the next generation of payments professionals. This session has been designed to inspire the next generation whilst sharing the successes and key learnings from two experienced professionals on how to make a prepaid programme work.

Speakers:

Emily Baum, Mastercard Prepaid Management Services and Paul Swinton, Payment Card Solutions

With over 2 decades of experience between, our masterclass speakers are uniquely qualified to entertain and inspire you to get involved and stay involved in the prepaid sector.

Seats for the masterclass are limited. For further information and to register for the PIF Summer Networking Evening please contact Diane Brocklebank or call +44 (0) 7736 971 986.

With thanks to our event sponsor:

 

Battle of Britain’s Holiday Spending

Firms seek to win over cost-conscious holidaymakers with money-saving solutions and incentives

Rip-off deals and poor exchange rates are kick-starting a battle for Britain’s consumers’ travel money this summer, with payment providers creating cost-saving solutions to target the wallets of cost-conscious holidaymakers.

According to the Prepaid International Forum (PIF), the not-for-profit trade body representing the prepaid financial services sector, holidaymakers are facing a huge disparity in the cost of spending money abroad this summer with a growing range of payment methods and associated deals on offer.

A study* of the best and worst value options (based on exchange rates and fees) on the market showed a 19.5% difference on Euro spending (€96 for every £500 spent) and a17.5% difference for US Dollars ($92 for every £500 spent).

If this wasn’t motivation enough to shop around, the weak pound is contributing to rocketing costs in some popular destinations.  For example, the price of holiday spending in Nice, France for British visitors has increased by 38% in the last year according to the Post Office’s Holiday Costs Barometer report for 2017 reflecting the weakening Pound to Euro.

To ensure they aren’t suffering from poor deals and the after-effects of Brexit-influenced exchange rates, PIF’s experts are recommending that consumers shop around for the best deals and check the costs incurred when spending money abroad.

Alastair Graham, PIF spokesperson, comments, “In previous years consumers have absorbed the extra costs and fees levied on spending abroad, not wanting to spoil their holiday by counting the pennies.  However, worsening exchange rates and greater disparities in price between available options, means that this summer travellers are keen to cash-in on ways to save money

“Fees on domestic debit and credit cards when used abroad are a common bug bear, as are fluctuations in exchange rates which make it hard to be sure exactly what bill you’ll face on arriving home.  Cash is always an option, but increasingly travellers are aware of the security risk this presents.

“To provide an alternative, we are seeing innovation from prepaid providers that aim to appeal to consumers fed up with traditional, expensive solutions.”

Helping Reduce Costs for Consumers

Specialist payment providers such as, FairFX, offers the security of spending on a card (and so not carrying large sums of cash abroad) but without the accompanying high fees and extra charges.

A study carried out by FairFX reveals that the average fee to use your debit card and credit card abroad is 2.8% and 3.5% respectively. Switching to prepaid solutions avoids this charge and also means that consumers aren’t at the mercy of the exchange rate on the day you use it.  Instead FairFX allows you to preload a card at a fixed exchange rate (allowing you to pick the most favourable time to exchange).  This, combined with lower commission rates, can add up to considerable savings.

According to FairFX, such services also reflect how savvy consumers are choosing to exchange money.

James Hickman, CCO of FairFX says: “When the pound was stronger, consumers didn’t pay as much attention to the impact that exchange rates can have on holiday costs. However, in the last 18 months, and particularly since the Brexit referendum, there has been a significant change in focus. With poorer exchange rates against major currencies including the euro and the US dollar, consumers are getting less for their pound than they were two summers ago. 

“Planning ahead is key; one in 10 of us leave travel money until the last minute but this means you limit any control and are forced to accept whatever rate is available on the day. In the same way as you should book your travel insurance when you book your holiday, you should start planning your travel money at the same time – if not before. By monitoring exchange rates, many customers are now buying when the rates are at their strongest and get the biggest bang for your buck. If you don’t have time, the free FairFX travel money tracker will do this for you.”

Added benefits to tempt consumers

Providers are also adding additional benefits to holiday spending services to tempt consumers.

Research carried out by Tuxedo Money Solutions and Escape Travel Card, reveals that having holiday cash stolen is still a major concern for 70% of British holidaymakers.  Despite this fact, 54% still opt to carry large sums of cash to avoid banking fees and charges.

Rob Darby of Tuxedo Money Solutions says: “To provide a solution to this problem the Escape Travel Card programme, developed by Tuxedo Money Solutions, offers holidaymakers a safe and convenient way to carry money, while also eliminating the costly card fees on purchases made abroad.

“Holidaymakers can preload the card with up to £5,000 and if the card does happen to get lost or stolen it can be locked immediately with a single SMS text message, keeping valuable travel funds safe and sound until a new card can be delivered."

Another provider, Mastercard, is even throwing in access to over 1 million, free, global Wi-Fi hotspots to sweeten the deal for holidaymakers.  People signing up to its Platinum Prepaid Travel Card are signed up to Boingo Wi-Fi helping to keep them connected while abroad.

ENDS

Notes to Editors

* Source: Which? Best Travel Money Options – Best rates found for each type of spending. Based on exchange rates gathered on the same day on four consecutive weeks in February and March 2017.

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

Rick Hollister
PR Agency One
T: 0161 871 9140
E: rick@pragencyone.co.uk

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

Mastercard, Western Union Designing Digital Solutions for Refugees

Source: Paybefore -  Mastercard and Western Union have teamed up to help refugees around the world access goods, services and financial services within refugee settlements. Announced on June 20—World Refugee Day—the partnership will explore ways to use a digital model to serve the more than 65 million people around the world currently displaced from their homes due to political conflict and natural disasters.

The collaboration will aim to enable refugees, their host communities and donors to send and receive funds digitally, creating more transparency and long-term empowerment of refugees, according to Mastercard and Western Union.

Over the past year, the firms studied a pair of settlement camps in northwestern Kenya to examine the needs, challenges and opportunities for refugees and their host communities. The findings led to the development of Smart Communities: Using Digital Technology to Create Sustainable Refugee Economies, a blueprint designed to serve refugees by combining digital access to remittances, banking, education, health care and other basic needs in way that is “unified and trackable.”

The model emphasizes digital solutions including the delivery of mobile money, digital vouchers and prepaid cards, noted Maureen Sigliano, head of customer relationship management, Western Union. “The goal is to drive personal empowerment, stimulate growth and promote social cohesion among the world’s refugee populations, while driving better governance and transparency,” she said.

Both Mastercard and Western Union are founding members of the Tent Partnership for Refugees, a coalition of more than 70 companies committed to addressing the global refugee crisis. In 2016, Mastercard was named Pay Awards Change Agent of the Year for its Mastercard Aid Network, an end-to-end solution that streamlines humanitarian aid distribution by using debit cards preloaded with credits for physical goods such as food and medicine. Mastercard later expanded the aid network by combining it with the network’s money transfer and prepaid capabilities to offer other forms of aid, including digital cash and vouchers.

“The private sector is uniquely positioned to bring greater innovation and ingenuity to this crisis,” said Gideon Maltz, executive director of Tent. The Mastercard-Western Union initiative “reflects the contributions that companies can make when they identify problems, collaborate with each other, and work tirelessly to find and fund scalable solutions to fix them,” added Maltz.

2017 Pay Awards Results Announced

Today, June 14, Paybefore reveals the Best-in-Category winners in 21 categories and the two recipients of its highest individual recognition, Industry Achievement, for the 2017 Pay Awards.

The results are the combination of votes from the expert judging panels and the aggregated results of online voting for Best-in-Category. This year we had more than 33,000 votes cast by Paybefore.com visitors, which supported or swayed the outcome in five categories. Industry Achievement winners were selected by three past recipients of the award.

“Pay Awards has a long history of recognizing the best companies, programs, technologies and people in the world of prepaid, retail and loyalty, and payments technology,” said Loraine DeBonis, Paybefore’s Editor-in-Chief and chair of the judging panels. “In our 11th year, we are proud to celebrate the accomplishments of all 63 of our category winners and those that rose to the top of their respective categories. Our industry leaders have shown once again that ingenuity, collaboration and innovation continue to thrive. Thanks to all who participated in this year’s competition and congratulations to our winners.”

Our Best-in-Category and Industry Achievement winners will be profiled in the upcoming Pay Magazine – Awards Issue