Wirecard Card Solutions is taking over as the issuer of Bread4Scrap, a prepaid card program used by U.K.-based Payment Card Solutions (PCS) to distribute funds to scrap metal dealers.
Germany-based Wirecard adds the Bread4Scrap Prepaid Mastercard to a portfolio of prepaid and virtual cards the company already issues for PCS, the companies said in a Feb. 6 press release.
More than 90 U.K. scrap metal industry operators participate in Bread4Scrap, a program launched in 2013 in response to a 2012 U.K. law banning cash payments for scrap metal to deter theft. The reloadable prepaid card enables secure and legal payouts to scrap dealers and monthly payments to thousands of cardholders exceed £4 million (US$5 million), PCS said.
“PCS is one of our longstanding program managers, one of the original pioneers of the prepaid industry,” said Brian Lawlor, Wirecard Card Solutions’ director of sales and business development, in the release.
Canada's Carta Worldwide previously was PCS' processing partner on Bread4Scrap.