FT. LAUDERDALE, Fla., Feb. 25, 2015 /PRNewswire/ — WaveCrest Group Limited, a multi-currency digital payments provider, announced today that it will expand its corporate and government payments solutions to Canada through an issuing relationship with Home Trust.
With this new agreement, Home Trust will become the official issuer of WaveCrest’s MyChoice and MyFare prepaid programs inCanada, which provide corporate payments solutions to businesses and governments.
The MyChoice card allows businesses to streamline commission, business, incentive, reimbursement and travel payments and control expenditures with enhanced convenience, flexibility, and security. WaveCrest’s MyFare card caters to transportation fleet owners who want a more secure and efficient way to pay their drivers.
“We are pleased to announce this relationship and to be able to provide alternative payments solutions to Canadian business and government entities,” said Martin Reid, Home Trust president. “Working with WaveCrest solidifies our commitment to Canadian enterprises of all sizes by giving them access to a trusted prepaid payments option.”
Benefits of a prepaid program for businesses and government agencies include:
- Reduced payment costs: with fewer paper and postage expenses, and eliminates the cost of reissuing lost and stolen checks
- Improved end-user experience and global capabilities: thanks to more timely payments regardless of the cardholder’s banking relationship, with funds available right away and in multiple currencies, and access to cash at more than 1 million ATMs
- Web-based administration: easy to use website allows businesses to make funds available to payees within minutes of payment confirmation
- Enhanced reporting and better compliance: businesses can track and manage expenses through a convenient online console
“We are excited to be teaming up with Home Trust to bring our corporate and government payments solutions to Canada,” said Miles Paschini, WaveCrest group president. “We know how important it is for enterprises to cater to their employees, vendors and suppliers and with the rapid changes in banking among millennials, we anticipate that more and more individuals will look for alternative solutions, including prepaid cards.”
WaveCrest provides award-winning digital payment solutions to corporations and governments worldwide. Programs include business-to-business payouts, employee, student and taxpayer disbursements, mobile wallets, prepaid cards, lottery payments, pre-defined and custom offerings. WaveCrest Holdings Limited in Europe is a regulated e-money issuer and a principal member of MasterCard and Visa EU. WaveCrest Payment Services of the Americas, Inc. is a FinCEN-registered prepaid access provider, and an issuer of Discover Network prepaid cards. Visit us at www.WaveCrest.gi.
About Home Capital and Home Trust
Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of insured residential first mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through its direct to consumer deposit brand, Oaken Financial. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.
FOR ADDITIONAL INFORMATION:
Gerald M. Soloway, CEO, or
Martin Reid, President