Wirecard selected as issuer for popular 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. Read more

Paysafe appoints Oscar Nieboer as Chief Marketing Officer

Former Amazon, PayPal and Betfair marketing chief joins Group’s exec team

7 February 2017 - London: Paysafe announces that Oscar Nieboer has been appointed as the Group’s first Chief Marketing Officer (CMO), joining the payment provider’s executive leadership team and reporting to Paysafe President and CEO Joel Leonoff.

Nieboer brings extensive experience in ecommerce, technology and payments. He has worked both in the UK and Silicon Valley, holding senior strategic roles with companies including Amazon, PayPal and Betfair.

Leonoff said: “While our business with its growing portfolio of payment products and services has been at the forefront of change and innovation for many years, 2016 marked the first full year under our new Paysafe brand identity. With our ongoing growth and bold ambitions in the payments space, we welcome Oscar to the team with great enthusiasm and anticipation as we take our business and brand to the next level.”

Before joining Paysafe, Nieboer was CMO at Amazon Instant Video, an internet video on demand service developed, owned and operated by Amazon. Prior to that, he was CMO at PayPal EMEA, responsible for the company’s EMEA marketing function and driving its B2B, B2C, analytics and insights capabilities. Nieboer was previously Global Marketing and Brand Director for five years at Betfair, a leading global sports betting and gaming group, and also served as Managing Director of Virgin Games.

Nieboer said: “This is an extremely exciting time for Paysafe and the wider payments industry, which is rapidly growing and changing. I am joining such a talented team on the back of an exceptional year for the business. Paysafe has such a great culture of innovation in payments and I look forward to driving the brand’s growth as we continue to help our customers and consumers benefit from faster and simpler ways to send and receive money internationally.”

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 digital wallets, prepaid solution, payment processing and card issuing, and acquiring products and services. With two decades of experience, Paysafe is trusted by merchants 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.

For further information, contact:

Gavin Haycock, SVP Corporate Communications, Paysafe Group plc
Gavin.Haycock@paysafe.com
Tel: +44 (0) 20 3826 9767

Anna Howard, Head of Corporate Communications, Paysafe Group plc
Anna.Howard@paysafe.com
Tel: +44 (0) 20 3826 9822

Raphaels Bank and Faster Payments recognised for Industry Achievement of the Year

Raphaels Bank and the Faster Payments Scheme have kicked off 2017 with a joint award in recognition of the successful project to become the first new participant of the UK’s 24/7 real-time payment service. The payments innovators received the Industry Achievement Award at the prestigious Card and Payments Awards in front of 1,200 industry peers at the Grosvenor House Hotel in London.

The award was presented in recognition of the ground-breaking work to open up access to Faster Payments, with Raphaels Bank joining in August 2016 to become the first new participant since the Scheme’s inception in 2008. Raphaels joined using the innovative New Access Model, acting as a sponsor to other payment service providers (PSPs) and enabling them to access true, 24/7 real-time payments via its connection. One of the first businesses Raphaels Bank worked with to deliver the benefits of this new initiative was TransferWise, enabling it to provide its customers with real-time transactions.

The Industry Achievement Award is a special award which is presented to the individual, team or organisation judged to have made the most significant contribution to the industry in the last year. The judging panel, made up of a broad spectrum of independent experts, commented: “The direct membership of Faster Payments is the happening of the year, driving a leading payments system unrivalled anywhere in the world.”  Raphaels Bank has been at the forefront of supporting the payments sector for more than a decade, and their latest award success follows a number of wins in 2016.

Janet Johnston, Head of Raphaels Bank Payment Services, said:

“We have a clear commitment to giving PSPs the ability to add value to their services through a wide range of payment solutions. And this latest award win is great recognition of that commitment.

“By opening up the Faster Payment Scheme for PSPs through a new direct access model, we are breaking new ground.  We have ambitious plans to expand our Faster Payments Scheme direct membership through sponsorships during 2017 with a number of other innovative launches, further demonstrating our ongoing commitment to collaboration with innovative and exciting fintech players.”

Craig Tillotson, Chief Executive of Faster Payments said:

“The Faster Payments New Access Model has been at the leading edge of the efforts in the UK to drive competition by opening up access to payment systems and we are delighted to be recognised with this award. Raphaels Bank have been at the vanguard of this important work, blazing the trail that has since been followed by three more challengers that have joined our world-leading service over the last few months, with many more in the pipeline in the year ahead.”

PIF in the News: Top Regulatory Issues in the UK and EU

Paybefore, 01.02.2017 - As the U.S. payments industry looks forward to regulatory relief, experts from the Prepaid International Forum talk about regulatory threats and opportunities for e-money in the U.K. and EU.

European regulators reeling from terrorist attacks in Paris in 2015 and Brussels in 2016, among others, turned their attention to prepaid cards last year, in an effort to crack down on terrorist financing. The proposals, which included prohibiting online use of anonymous prepaid cards as well as lowering the thresholds before customer due diligence (CDD) is required put the industry on alert. The Prepaid International Forum (PIF), a nonprofit trade group based in London, responded quickly, arguing for a risk-based approach to regulation rather than knee-jerk reactions that its members believed would do little to actually fight terrorist financing and money laundering. What’s more, the European Banking Authority announced a proposal for stronger authentication for electronic payments—part of its mandate under the Second Payments Services Directive (PSD2)—which many in the industry believe will hamper online commerce and basically put an end to one-click checkout, again without taking true risks into account.

Paybefore spoke with two leaders of PIF’s AML Working Group—Dr. Hartwig Gerhartinger, vice president, group regulatory and governmental affairs, Paysafe Group; and Giedre Mitkute, legal assistant, Locke Lord LLP—to find out more about these regulatory issues and what’s ahead in 2017. (See our EU Regulatory Glossary below for terms that may be helpful in following the discussion.) Read the full article

Raphaels Bank appoints Janet Johnston Head of Payment Services

Driving Forward New Innovations in Payments

Building on its award-winning position in the payments sector, Raphaels Bank has confirmed the appointment of Janet Johnston as Head of Payment Services.

Janet brings almost 30 years’ experience in the banking industry, beginning her career in South Africa where she held a number of senior positions in retail banking. She joined Raphaels Bank Payment Services in 2011 and has played a key role in the development of the Bank’s propositions for the burgeoning payments industry.

In her new role, Janet will continue to help the business focus on the development and launch of innovative payment propositions, as well as forging new relationships with key fintech partners. Read more

Paybefore 2017 Pay Awards: Call for Nominations

Paybefore, 4 January 2017: Don’t just say you’re the best in the industry—prove it. Showcase your latest innovations and brilliant people and earn international recognition as a Pay Awards winner. We are accepting nominations for our 11th annual competition in 24 categories, which will be evaluated by respected industry leaders.

Join the ranks of innovators forging a new path in payments the world over. Past winners hail from the U.S., Italy, U.K., Germany, India, Russia, South Africa, Mexico, Brazil, Thailand and more. Read more

PIF in the News: Six quick and safe alternatives to sending Christmas cash in the post

YourMoney.com - 21.12.2016: Some say giving cash as a Christmas present may come across as a bit cold or without much thought, but it gives the receiver the chance to buy what they actually want or need.

If you’re worried about sending money to children, family or friends, here are six quick and safe alternatives to sending cash in the post. Read the full article

UK Retailers to Receive Record Post-Xmas Bonus from Gift Card Sales

£3bn of Gift Cards to be given as Xmas presents this year

Retailers worried about their prospects in 2017 are to receive a welcome post-Christmas bonus thanks to a record year for sales of gift cards and vouchers.

This Christmas, the Prepaid International Forum (PIF), the not-for-profit trade body representing the prepaid financial services sector, predicts that UK present buyers will give friends, colleagues and loved ones an estimated £3bn of gift cards for them to treat themselves.

This is expected to convert into an extra £4.2bn being spent in stores in early 2017, with the average shopper topping up their gift by an average of 40%.

The high level of sales is being attributed to a number of factors.  Firstly, more cards and vouchers are able to be spent online, making them a more appealing gift for people looking to choose their present through online stores.

Secondly, growth has been accelerated by an increased trend for busy shoppers to leave their gift buying later this year, making gift cards a useful addition for time-poor shoppers looking to complete their Christmas lists.

Alastair Graham, spokesperson for PIF, says:

“So far 2016 has been a record year for sales of pre-paid gift cards, topping the previous record set over the equivalent period from 2015.  Early indications are that this will be boosted by another strong Christmas, with shoppers using pre-paid cards especially, as a safe and reliable way to give loved ones a special treat.

“Innovations such as the increased access to online stores are proving popular, as are multi-store gift cards that allow recipients to shop around for their treat across a wide range of all major UK retailers."

Retailers in fashion, beauty products and electrical items are expected to be the major beneficiaries of post-Christmas boost from people spending their gift cards.

UK managing director at One4all, the Post Office multi-store gift card, Declan Byrne, comments:

“These figures are especially good news for retailers because they stimulate extra sales and bring new customers into stores, especially in the period after Christmas which can otherwise be a little flat.

“We know from our research that for every £1 spent from a gift card, a customer will typically add an extra 40 pence of their own money to top-up to a something that’s a really special item. And typically, when customers use them to buy electrical goods - such as the latest must have gadget, laptop or smart TV - stores tend to see a top-up spend of 100% of the gift card’s value.

“As much as 50% of people receiving gift cards will be setting their sights on fashion, making this especially good news for this sector.”

NOTES TO EDITORS

About PIF

The Prepaid International Forum (PIF) is a principal trade association for the prepaid industry. We believe that prepayment is a responsible way to pay for goods and services, and that consumers should be confident in the security of prepaid services and the money that is stored on their behalf.

Established in 2007 as a not-for-profit organisation, 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

For further information

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

Steve Leigh
PR Agency One
T: 0161 871 9141
M: 07734 805 499
E: steve@pragencyone.co.uk

James Crawford
PR Agency One
T: 0161 871 9141
M: 07793 441 686
E: james@pragencyone.co.uk