A simple, effective alternative to cash payments for the scrap metal industry.
Key elements for Electronic payments:
• Full Audit trail of payments
• Re-loadable E-Money products which are issued to named account (which verifies
the customers identification) and undertakes full customer due diligence and 'Know
Your Customer' checks required under the Money Laundering Regulations.
Benefits of the scheme
• Web based system making it quick and easy for you to issue and load cards at the
time of transaction
• User audit trail allows you to know which staff have issued funds and how much
• Quick and convenient payment - no need for your customer to bank cheques
• Convenient for your customer - they can withdraw cash from an ATM or spend their
money at merchants
• Increases your customer loyalty as you can reload your customer's cards - they
have a 12 month expiry date
• You can have your companies name on the card to further increase Customer loyalty
• You have an inbuilt fully auditable trail of the distribution of your funds -
just as required
• Full KYC check to add even more control
• Cardholders have full services - they can check their balance online or by phone
• Fully compliant with all banking and VISA regulations - your funds are held in
a segregated account
The workings
• Company loads a float into a dedicated bank funding account
• Company purchases Chip & PIN cards, minimum quantity of 50
• Customer photo ID (e.g. Driving license) checked, scanned and held by you or uploaded
to our portal
• Customer's personal details loaded onto the web portal - electronic KYC check
carried out against passport, driving license or EU ID card
• You load the card though the system with the relevant funds from your funding
account
• Cardholder activates card online or by phone - any additional loads in future
are instant
• Straight after activation the card is live and the funds are available for your
customer to spend
• Cardholder can spend the funds at any retailer accepting VISA or withdraw through
an ATM machine
• Reloads are instant and only from the issuing scrap metal company
Want to find out more?
If you would like to know more about this solution and it's cost then please contact
us:
Telephone: (+44)0151 702 0004
Email: sales@incendiaprepaid.co.uk
