Barclaycard Launches New Prepaid Card
Released on: June 23, 2010, 4:29 am
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
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
Notes to editors
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:
Barclaycard Press Office
1234 Pavilion Drive
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