Released on: June 23, 2010, 4:29 am
Author: Barclaycard
Industry: Financial
Barclaycard Commercial has announced the launch of its new Prepaid card, providing organisations with a simple way to improve efficiency and gain more control over their spending and the way funds are distributed.
The new card will benefit organisations by removing the need for them to rely on
traditional paper-based methods of making payments, which are becoming
increasingly costly, complicated and time-consuming. In addition to speeding up the
process of managing funds, the new card will provide extra accountability and
control, with the ability to implement bespoke spending controls.
The product has been used successfully by a number of clients for some time. One who has already benefited from this product is:
Adecco UK & Ireland – part of the Adecco Group, the world's leading provider of HR solutions, with over 31,000 employees and 5,500 offices, in more than 60 countries and territories around the world. The Office Angels branches within the Adecco UK & Ireland group were sending out cheques frequently for petty cash purposes to their local offices. They adopted Barclaycard Prepaid to increase their control over their funds and to enable a much simpler and more efficient reconciliation process, and are now rolling this product out to their other brands.
Simon Meyrick, Treasury Manager, Adecco UK and Ireland, said: "Barclaycard Prepaid has been invaluable in not only helping us to reduce our dependency on cheques, but also in enabling us to improve efficiencies and increase control over spend. Given our national footprint, the added ability to control and monitor this process centrally has proved incredibly beneficial and efficient."
Dennis Bauer, Global Commercial Payments Director, Barclaycard said: "The Prepaid market holds many exciting opportunities for us and our customers and Barclaycard is committed to giving our customers the payment tools that meet their needs.” Bauer added "It's great to be working with companies such as Adecco, and seeing the success and the benefits they have had from the product."
A recent UK Payments Council article, 'The future of cheques in the UK', highlighted that cheque use in the UK is falling at 12% per annum. This trend, coupled with the ever increasing pressure that all organisations are under to have greater cost efficiencies and be more accountable, further supports the future growth and benefits that Prepaid offers.
Barclaycard Prepaid is a new and innovative solution that can be administered very easily. It allows additional cards and funds to be allocated through a secure online site and provides a flexible, efficient and highly controllable new payment solution.
Notes to editors
About Barclaycard
Barclaycard, part of Barclays Global Retail Banking division, is a leading global
payment business which helps consumers, retailers and businesses to make and accept
payments flexibly, and to access short-term credit when needed.
The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless, prepaid credit card and mobile payment schemes for today and cutting edge forms of credit card payment for the future. It also issues credit cards and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit.
In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.
Key facts published in February 2010;
- number of UK customers: 10.4m
- number of International customers: 10.8m
- number of retailer/merchant relationships: 87,000
For further media information please contact:
Andrew Bond
Barclaycard Press Office
Barclaycard
1234 Pavilion Drive
Northampton
NN4 7SG
01604 251229
www.barclaycard.co.uk