Prepaid Financial Services (PFS) has announced the launch of its multi-currency prepaid card platform.
The multi-currency prepaid card allows corporate clients and cardholders to hold in excess of 15 currencies all on one card. The platform also comes with Android and iPhone functionality to enhance the user experience.
Once the cardholder has registered for the card, they can load up to 15 currencies, when the cardholder spends in a particular country and currency, then the value of the transaction is deducted from the specific currency wallet.
Noel Moran, CEO of PFS, said: “This is an exciting time for prepaid and the launch of our Multi Currency product for prepaid programs and banks further differentiates PFS from other prepaid issuers and program managers. It is not just the range of currencies that PFS make available, it is the simplicity of use and the consumer friendly interface that enables the cardholder to be in control of what they do with their currency and when they want to do it. PFS believes in making it as convenient as possible for cardholders to control their exposure to Foreign Exchange risks. PFS can act as the Issuer or as the program manager for the bank or partner, which speeds up their entry into the market place. We have a number of FX bureau’s and banks launching their own branded version of the Multi-Currency card in 2014 and we expect to see take up expand over the coming months.”
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.