PFS powers surge in custom-built mobile payment, e-money messaging & multi-currency solutions

Marie O’Riordan is Senior Marketing Manager at Prepaid Financial Services Limited (PFS), a leading e-money institution Authorised and Regulated by the FCA.

UK, Ireland, and Malta-based PFS are at the forefront of a new wave of smartphone and web-enabled e-money gateways embracing the ever-expanding mobile payments, e-money-in-a-message, and multi-currency field. The ability to deliver iOS and Android applications with on-the-move functionality in real-time that can complement existing programmes for businesses is a game changer.

It is intriguing to see what can be achieved when development teams have an opportunity to put their talents to use to work on a custom brief. Incorporating bespoke customisation is a key differentiator in today’s marketplace allowing for innovation and customisation to be nurtured. This is especially relevant as all of the smartphone apps are built in-house. They are designed to have custom functionality based on the individual needs of clients with control and budgeting tools built in. All of this comes with full branding as corporate identity is a vital marketing component.

Conor Doyle, PFS “Forward-thinking businesses continue to seek out next-generation payment technologies and embrace reliable mobile commerce solutions,” commented, Conor Doyle, CTO, PFS. “We have become a market leader in Europe at delivering innovative payment technology and efficient e-money solutions. Our platform continues to be the first choice for corporates, banks, mobile networking operators, NGOs, local authorities, and governments seeking an established name in the financial technology sector.”

Now, PFS has rapidly expanded into one of the fastest growing e-money issuers in Europe. With programmes active in 24 countries and growing, PFS has the ability to transact in 22 currencies. As a pioneer in the advancement of electronic money in the EEA, the company has been awarded a number of high-profile honours for its provision of world-class solutions in the UK and the Eurozone.

PFS App Solutions Can Feature the Following:

  • Handy card management within the app
  • Virtual cards generation for secure spending online
  • Card loading using vouchers or debit cards
  • Sharing money with smartphone customers – simultaneously creating a virtual card
  • View transactions
  • Easily find cash top-up locations

As a positive disruptor in electronic money technology, the company has seen a massive shift towards mobile payments. The art of building deluxe programmes around technologies means an effortless experience with mobile payment products at point-of-sale. All of this is brought to market within a supportive company culture that is big on nurturing innovation, customisation, teamwork, integrity, and community.

Supported Technologies for Mobile Payments Include:

  • NFC and QR code supported wallet solutions
  • Contactless stickers for smartphones through advanced bridge technologies
  • Software architecture embracing HCE
  • Tokenisation data security
  • High-spec wearables incorporating wristbands and key-fobs

Today’s sophisticated MNOs and MVNOs require fully branded and versatile payment solutions. PFS’ white label payment programmes have transformed today’s progressive service providers into the mobile payment leaders of tomorrow. Flexibility is key with options including physical and virtual cards and contactless stickers. Even handset-based mobile payment functionality is possible.

Turnkey Solutions Incorporate:

  • Own branded or white labelled Mastercard cards
  • Individual currencies or multi-currency options
  • Availability in a selection of form factors including physical cards, virtual cards, contactless stickers, and wearables
  • Comprehensive reporting and information management backend system
  • Management portals for online cardholders
  • Smartphone apps (iOS & Android-ready) with budgeting and altering facilities
  • Supporting SIM-based, HCE, and tokenisation mobile payment technologies
  • Current account functionality can be linked to accounts

Why this Matters in Today’s Fast-Paced FinTech Environment? The Benefits Include:

  • Brand affinity is reinforced
  • Creating loyalty when deployed to an existing customer base
  • Increased customer acquisition when added to existing customer offerings
  • Attract customers seeking an e-money product that better reflects their identity
  • Opens up modern payment facilities to those who may not have access to traditional accounts

Taking this a step further, PFS has partnered with multiple money messaging apps to revolutionise e-money in a message payment solutions in Europe. The breakthrough person-to-person transfer innovation is built on a messaging front-end and an e-money back-end. What does this mean? With PFS providing the payment platform, the app allows users to send electronic money instantly as a message in a domestic transfer – without fees. When a new account is set up, users get a dedicated IBAN and a virtual Mastercard for making payments online.

Additionally, a partnership providing an innovative solution involves assisting people to manage money and utilise currencies more efficiently internationally. In effect, it allows for a multi-currency card to be issued to frequent travellers who need a flexible product while also enjoying premium services attached to the card such as travel insurance.

Multi-Currency Cards Can be Purchased Online & Benefits Include:

  • Spend in multiple currencies
  • Enjoying the best FX rates
  • Easily send funds to a friend who has the same card
  • Mobile app available for download
  • Premium travel insurance service available

Another programme is delivering solutions for physical multi-currency prepaid cards primarily for customers in one European country. The client has developed Apply and CCP to integrate with PFS via APIs.

In this instance, currencies include:

EUR, GBP, USD, CHF, AUD, CAD – Consumer

EUR, GBP, USD, CHF, HKD, CAD – Corporate

This is a sample of how bespoke mobile payment, money in a message, and multi-currency capabilities are fuelling an era of engaging new innovations set to redefine the FinTech landscape for long-term growth opportunities via the robust PFS platform.


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First published on PaymentEye

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