The new partnership will enable a simple, smart and secure mobile banking experience for thousands of UK businesses
PrePay Solutions (PPS), subsidiary of Edenred, the global leader in payment solutions for the working world, today announces its official partnership with mobile-only B2B banking company, Amaiz. The deal represents PPS’ continued commitment to the support of emerging fintech companies and innovative B2B solutions.
With entrepreneurs and sole traders already playing a big part in the UK economy, experts predict this to continue expanding exponentially. In order to meet the demands of the growing demographic, fintech and payment brands need to provide innovative, flexible and efficient banking solutions.
That’s why Amaiz, powered by PPS, moved away from a one-size-fits-all approach to digital banking by creating its platform that caters to businesses’ unique needs. The comprehensive B2B solution provides companies with smart back office and accounting tools, freeing business owners from time-consuming admin and paperwork.
What’s more, working with PPS enabled Amaiz to add BIN sponsorship and e-money licensing to its offering. This means Amaiz customers will be able to use their mobile business current accounts to carry out faster payments, BACS, direct debits and CHAPS. Account holders receive a contactless prepaid Mastercard card which enables ATM withdrawals and POS payments.
Ray Brash, CEO of PrePay Solutions, said: “Partnering with Amaiz is an important step for PrePay Solutions. Our business now serves a broad spectrum of needs across a significant B2B banking portfolio in the fast-growing fintech space. We were drawn to Amaiz due to its exciting, entrepreneurial and forward-thinking approach – in particular its innovative design programme based on end-user behaviour.”
Steve Taklalsingh Managing Director and CFO of Amaiz, said: “At Amaiz, we strongly believe in the need for more tailored business banking. Our intelligently developed B2B platform has an important role to play in providing innovative support for entrepreneurs.
“Working with the PrePay Solutions team has been incredibly collaborative, and together we have managed to overcome various obstacles, including working across multilingual teams and different time zones. Their extensive experience in delivering digital banking solutions and ability to connect to alternative payment solutions means we have been able to grow the Amaiz vision. We’re looking forward to continuing to tackle the market head on with the support of PPS.”
About PrePay Solutions
Prepay Technologies Ltd, trading as PrePay Solutions, is a one-stop-shop for prepaid programmes. It is a Mastercard Principal Member and an FCA regulated Electronic Money Institution, offering a range of services including processing, UK and SEPA banking solutions, BIN sponsorship, eWallet provision, compliance and fraud services, supply chain management, customer services and end to end program design and management.
PrePay Solutions manages ground-breaking prepaid programmes for global brands, including prepaid debit cards, travel money cards, gift cards, corporate cards, insurance cards, rewards cards, loyalty cards, staff cards, promotional cards, saver cards, warranty cards, trade-in cards, corporate expense and product specific cards. Prepay Solutions’ programmes operate across multiple media and form factors, including physical, virtual and NFC. It has over 200 client programmes across over 30 countries globally.