PrePay, PayQuicker target faster employee rewards, commissions
Digital banking and payments provider PrePay Solutions is partnering with PayQuicker to help with currency conversions in payroll management programs globally, and to expand PayQuicker's capabilities for its clients' international workers.
London-based PrePay Solutions operates Mastercard prepaid programs, as well as e-wallet, compliance and fraud services, while Rochester, N.Y.-based PayQuicker specializes in compliant local currency payouts and cross-border cost reductions.
The PrePay Solutions system enables PayQuicker to pay out rewards, incentives and commissions for clients' employees across the U.K. and Europe.
In that manner, the partnership will expand PayQuicker's Instant Payments system throughout the region. Payment recipients will be provided with a receiving account number and client-branded prepaid contactless Mastercard, enabling them to make immediate card purchases, ATM cash withdrawals or to transfer funds to other bank accounts.
"Building on our existing support network of payroll management programs, this partnership further strengthens our geographical footprint," Ray Brash, CEO of PrePay Solutions, said in a Thursday press release. "PayQuicker is an incredibly reputable company, technologically mature and has a great understanding of the payments market."