GRAB A BREAD PREPAID MASTERCARD速 INSTEAD OF CASH TO PAY FOR SCRAP
Bread4Scrap In December 2012 the Legal Aid, Sentencing and Punishment of Offenders Act (LASPO) was enacted. LASPO included specific legislation relating to the payment of cash within the scrap metals industry. The result was to effectively ban cash from all scrap metal payments and move the industry into the world of electronic payments and/or cheques. The objective was to reduce the amount of metal theft in the UK. To meet with these new guidelines, Bread4Scrap was born. As the initial Home Office guidelines were unclear, Payment Card Solutions successfully lobbied MPs and civil servants to include e-money, fully (KYC) verified accounts (prepaid cards) within the list of accepted payment instruments.
We allow participating scrap metal dealers to issue to their customers a prepaid MasterCard card (subject to identity verification) and instantly load these cards with the funds previously paid in cash. We have brought an industry that was used to dealing almost exclusively in cash into the world of card based electronic payments and assisted in reducing recorded crime as a result.
Statistics Payment Card Solutions (PCS) is Europe’s most trusted prepaid payment card specialist. We provide systems, compliance and customer service teams to operate some of the most successful prepaid card programmes in Europe. When Bread4Scrap was launched in December 2012, PCS initially issued 25,000 cards in the first two weeks of operation across around 40 sites primarily in the South East of England. Over £35m had been loaded to this scheme in the first 12 months of operation – these would have previously been cash transactions. The number of installation sites has more than doubled to over 100 sites and over 2m transactions have been processed. Bread4Scrap has won numerous awards since its launch in 2012 becoming the leading service provider for this industry. 76.8% of all issued cards receive multiple loads and continued use – indicating this solution resonates both with customers and cardholders alike.
Scotland’s scrap yards are to face new legislation changes as Justice Secretary Kenny MacAskill unveiled proposed changes to the country’s licensing laws that would prevent scrap metal dealers paying cash for materials. The proposals are part of the Air Weapons Licensing (Scotland) Bill and are due to be enforced in 2015. Contact us today and find out how Bread4Scrap can streamline your business whilst complying with new and present licencing laws. Tel: 020 3137 5763 Email: info@bread4scrap.com Web: www.bread4scrap.com
How it Works Bread4Scrap is a simple way to pay customers for their scrap metal while still complying with Home Office requirements. Our cards provide a full electronic money trail for complying with the new law changes recently enacted. The registration process is quick and easy, and cards can be reloaded the next time a visit is made to a Bread4Scrap dealer. Safer than handling cash, more convenient and cost-effective than issuing cheques, and with a quick and easy set-up, we can have you up and running within less than 2 weeks. • • • •
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Low set-up fee Fully compliant solution Instant customer payments Access to management portal to: • Register/activate cards • Make instant customer payments • Full audit trail • Full visibility of funds • View float statements • View card loads Cardholder portal: • View transactions and balances SMS alerts: • Text to alert customer when funds have been loaded to their card
Testimonials In 2012, PCS identified a new application for prepaid cards: helping the scrap metal industry to deal with new legislation outlawing cash payments for scrap. In consultation with the British Metal Recycling Agency and the Home Office we brought to market a revolutionary new product. “We are really excited about offering this unique product to our customer base, it will not only benefit our customers by having a safer, quicker and more secure way to receive funds but will also streamline our business.” Tim White, Operations Manager, Nationwide Metal Recycling Limited
“Having tested other prepaid options we found the Bread4Scrap prepaid card unique and cost effective. PCS Prepaid Bread Card not only offered us a solution to the new legislation changes but gave our customers flexibility and security, running alongside a flawless customer service.” Julian Howes, Managing Director, Vinton Metals Limited
For your unique solution, contact us today: Payment Card Solutions (UK) Limited 3A The Plough Brewery 516 Wandsworth Road London SW8 3JX Tel: 020 3137 5763 Email: info@bread4scrap.com Web: www.bread4scrap.com @breadcards
Our partners:
Š 2014 Payment Card Solutions (UK) Ltd. The Bread Prepaid Corporate Card is issued by IDT Financial Services Limited pursuant to a license from MasterCard International Incorporated. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. IDT Financial Services Limited is a regulated bank, licensed by the Financial Services Commission, Gibraltar. Registered Office: 57-63 Line Wall Road, Gibraltar. Registered No. 95716. All communications should be sent to Payment Card Solutions (UK) Limited, PO Box 64645, London, SW8 9DR