Customisable Prepaid Debit Card Streamlines Business Payments Securely and Efficiently
FARNBOROUGH, England – October 14, 2014 – WaveCrest Group Limited, a multi-currency digital payments provider, today unveiled MyChoice, the first global payments programme featuring a prepaid debit card for European businesses of all sizes. With a fully integrated approach to issuing, processing and programme management, MyChoice prepaid debit cards allow businesses to streamline commission, business, incentive, reimbursement and travel payments and control expenditures with enhanced convenience, ﬂexibility, and security.
MyChoice provides a unique offering for businesses with 1 to 1,000+ payees, giving them the ability to create programmes for any payments scenario, with turnkey offerings available as quickly as 72 hours from setup, or fully branded and customised programmes for any payment need.
“WaveCrest built a fully integrated payments platform for complex business solutions and now the same robust platform is available for businesses of all sizes,” said Miles Paschini, WaveCrest Group president. “MyChoice is a simple to use and secure corporate payment solution available to small to medium enterprises in a turnkey package and can easily and quickly be customised for large enterprises. We have changed the way businesses can manage a variety of payments in a very positive way and we are excited to make MyChoice available to our corporate customers.”
Today, many small and medium enterprises (SMEs) rely on manual processes to pay supplier invoices and other business expenses, but these cumbersome payments processes require a high volume of paper cheques, expensive ACH payments, and a high potential for loss and fraud. With SMEs accounting for more than 99 percent of all European businesses, MyChoice provides the opportunity to capitalize on the rapidly evolving EU payments landscape, where prepaid is recognized as the fastest growing payments segment.
MyChoice is one of the most cost-effective and efficient payments solutions available. Businesses can transform their payments process with:
• Reduced payment costs: with fewer paper and postage expenses, and eliminate the cost of reissuing lost and stolen cheques
• Improved end-user experience: 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
“WaveCrest has an extensive understanding of the industry, which allows us to setup the most efficient and secure payments programs for businesses,” said Nitin Agarwal, WaveCrest Group’s head of product solutions and marketing. “Payment programs are usually complex, and we use our payments experience to ask all the right questions, ensuring we are offering programs that work best for each of our clients.”
WaveCrest provides award-winning digital payment solutions to corporations and governments worldwide. Programmes 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.
Nigel Godolphin, Director Business Development