Prepaid Financial Services has added a premium business current account product to its prepaid offering which is also available through Fitbit Pay, Garmin Pay™ and Google Pay. Between February and April 2020, the London FinTech recorded a significant 107.28% spike in usage of the smart payment solution.
In lockdown, the off-the-shelf prepaid business accounts have become popular with start-ups and SMEs intent on navigating the complexities of the Coronavirus era with safe and transparent cash-free efficiencies. The prepaid element has become attractive for businesses focused on sticking to budgets via limits that can be set on the accounts.
The speed at which the online and wearables payment solution can be deployed during these unprecedented times makes it a hit FinTech-enabled product with no minimum contract and limited fees. Businesses are seeking innovative ways to manage expenses, travel, payroll, direct debits, transfers and mobile payments.
Amanda Harrison, Head of Business Development at PFS commented: “We are delighted to be the payment provider of choice for rising challenger banks that want to use our innovative technology platform to disrupt the traditional banking market. We have built powerful, lightning speed APIs to enable our customers to connect in real-time to our platform to utilise state of the art consumer and business current accounts easily in the UK and Europe.
COVID-19 has proven that multi-channel, digital solutions are essential to move money faster and safer around the world. With our framework, technology, and partnerships in place, PFS has also been able to provide rapid response solutions to our customers to reach the vulnerable via emergency fund disbursement in these challenging times.”
For additional convenience, the prepaid business accounts are mobile payments ready for cashless transactions via smartphones and wearable devices from Fitbit, Garmin* and Google Pay. Full information is available at https://