Prepaid Card Solutions (PCS) and Carta Worldwide are launching the Bread4Scrap prepaid corporate MasterCard for the British scrap metal industry.
The U.K. Home Office bans cash payments for scrap metal, creating a larger market for prepaid cards. Carta Worldwide will combine its prepaid and mobile payments processing system with PCS' prepaid card marketing to offer the MasterCards.
"We quickly reacted to a change in UK Legislation in October 2012, to provide a viable and convenient method of paying suppliers using prepaid cards when cash was prohibited," said Paul Swinton, CEO of PCS, in a release.
The system provides a full electronic audit trail of funds, and PCS performs identity verification in seconds to allow for fast funding of prepaid cards.