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. The programme already has over 90 clients with thousands of cardholders using the service who make payments of approximately in excess of GBP 4-5 million per month with further growth expected.
The Bread Prepaid Mastercard® Card is a reloadable e-money product which combines innovative, secure EMV card packaging with a unique corporate loading and float management system to ensure that cards are issued securely and legally out in the field and importantly cards can be used immediately by scrap dealers for general spend. Participating scrap metal dealers issue their customers with Prepaid Mastercard Cards and instantly load these cards with the funds previously paid in cash.
Wirecard Card Solutions already works with Payment Card Solutions on a number of physical and virtual prepaid pan-European programmes. Wirecard Card Solutions is a issuer of prepaid cards in Europe. The UK-based Company is authorised and regulated by the Financial Conduct Authority (FCA) and operates under its Electronic Money license with permissions to issue cards throughout the SEPA region. Wirecard Card Solutions accompanies its clients throughout all stages of their business development and offers a vast array of products, services and experience needed to take a new a prepaid card programme to market.
To find out more about Wirecard company profile, please see the company profile in our online company database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now