Carta Worldwide

Carta Worldwide

June 03, 2013 03:23 ET

Carta Worldwide and Payment Card Solutions Launch BreadCard Prepaid Corporate Mastercard® for the UK Scrap Metal Industry

Introducing a 'just-in-time' prepaid corporate card payment solution to facilitate non-cash payments by UK based scrap metal owners to suppliers

LONDON, UNITED KINGDOM--(Marketwired - Jun 3, 2013) - Carta Worldwide ("Carta"), a leading global provider of prepaid and mobile payments processing, and Payment Card Solutions Ltd. ("PCS"), are pleased to announce the successful launch of the new Bread4Scrap prepaid corporate MasterCard® card for the UK scrap metal industry.

To meet with the new UK Home Office guidelines regarding the banning of cash to pay for scrap metal, PCS offers UK based scrap metal dealers a fast, convenient and compliant way to pay customers for scrap metal using a fully verified prepaid Mastercard® card. The system provides a full electronic audit trail of funds and PCS carries out independent verification of customers' identity within seconds to allow a customer to be issued with a funded card in seconds. "We allow participating scrap metal dealers to issue their customers with Prepaid MasterCard® Cards (subject to identity verification) and instantly load these cards with the funds which were previously paid in cash," explains Paul Swinton, CEO of Payment Card Solutions.

"We quickly reacted to a change in UK Legislation in October 2012, to provide a viable and convenient method of paying suppliers using prepaid cards when cash was prohibited," adds Mr. Swinton.

Bread4Scrap prepaid Mastercard® cards provide a full electronic money trail complying with the new law changes recently enacted. The registration process is quick and easy and cards can be reloaded the next time a visit is made to a Bread4scrap dealer. PCS also provides full Programme Management development and support for white label prepaid card solutions of BreadCard enabling distribution of their products and services to major clients.

"We are delighted to have been selected as the prepaid processing platform for PCS's programmes and are particularly pleased to have implemented the Bread4Scrap prepaid card programme in a period of weeks leading up to the changes in the UK legislation regarding the deadline for elimination of cash payments in scrap yards," states Brian Semkiw, CEO of Carta Payment Solutions. "We had a very tight timeline to bring this programme from conception to delivery and we were successful in meeting those very aggressive timelines for our client PCS," adds Brian Semkiw.

About Carta Worldwide

Carta Worldwide, www.cartaworldwide.com, is an international leader in electronic payments and transaction processing technology, specializing in prepaid, mobile and emerging payments. Carta's next-generation platform, specifically architected to meet the complexities of the evolving payments environment, excels where legacy systems are challenged; delivering end-to-end solutions that manage risk, enhance accuracy, and optimize profitability. Follow us on Twitter @CartaWorldwide. For more information, go to www.cartaworldwide.com.

About Payment Card Solutions:

In the last several years our technology and services suite has expanded along with our capability to deliver pan European programs on both physical and virtual prepaid cards through our partnership with Bin Sponsor IDT Finance. As well as providing prepaid program management to companies looking for a complete tailored solution, we can also provide purely technical services to companies wishing to manage their own prepaid program. If you are thinking of developing a prepaid program from the ground up, in direct partnership with a sponsoring bank and card processor, we would urge you to talk to us first. We can offer access to all our existing functionality and supplier integration points as a managed IT service, leaving you to concentrate on building the business without having to manage costly and time-consuming IT development.

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