Aschheim (Munich)/Newcastle. Wirecard Card Solutions Ltd., a subsidiary of Wirecard AG, is now dealing with GPS (Global Processing Services) and Bottomline Technologies to support ”U” – a digital agency banking solution designed by UK Programme Manager FFF Ltd. The U Account offers its users improved current account functionality but without the hassle and cost of using a bank. Its focus on personalisation, easy digital access and transparent pricing for bolt-on account services are unique in the UK market.
With this, Wirecard Card Solutions (WDCS), the leading prepaid card provider in Europe, is introducing agency-banking services in the UK via existing banking relationships. The U account is WDCS’s and GPS’s first foray into agency banking whereby cardholders can make use of additional payment functionality including Direct Debit, Faster Payments and Bacs Credits along with standard prepaid account features.
The U Account targets people, who feel underserved and overcharged by the banks with a new type of highly personalisable prepaid current account that lets people budget better, pay their bills on time and avoid unnecessary bank charges. This includes an integrated solution to the Faster Payments Service and Direct Debits.
Tom Jennings, Managing Director at Wirecard Card Solutions, said: “The FinTech sector in UK is evolving rapidly as new products and services are being unveiled and the number of start-ups entering the payments industry grows. This type of innovative and market-leading collaboration not only develops the products and services that Wirecard can offer but also supports FinTechs in disrupting the financial services sector.”
Alex Letts, Founder of U, adds “A scientific segmentation strategy underpins the U Account, driven by a model that aims to be 100% transparent. Bundled pricing options and a single user interface to extra accounts, combined with an easy money manager to help budgeting, make the U Account and its programme unique.”
“We are extremely pleased with the partnership we have built with Wirecard and Bottomline to introduce such an innovative product to the market“, said Suresh Vaghjiani, Managing Director (EMEA) at GPS. “The U Account demonstrates our platform’s capabilities allowing account holders to manage multiple Bacs enabled accounts each with their own unique account number, unlike other solutions in the market that use virtual accounts or virtual IBANS.“
WDCS, a UK-based company is authorised and regulated by the Financial Conduct Authority (FCA) and operates under its Electronic Money license with permissions to issue cards throughout the SPayments Association region. As network owner of ICA and BIN range and principle member of MasterCard and Visa, WDCS has passporting permissions into all 27 European countries.
Built from the ground up, the GPS processing platform offers reliability and flexibility to support the Agency Banking solution. GPS integrated with market-leading payments provider Bottomline Technologies to incorporate a new set of payment rails and enhance the prepaid card proposition.
Wirecard Media Contact:
Wirecard AG
Jana Tilz
Tel.: +49 (0) 89 4424 1425
Email: jana.tilz@wirecard.com
Wirecard Card Solutions Limited Annelleise Miles Tel.: +44 191 227 5472 Email: marketing.uk@wirecard.com
About Wirecard AG:
Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit www.wirecard.com or follow us on twitter @wirecard.
Wirecard Media Contact:
Wirecard AG
Jana Tilz
Tel.: +49 (0) 89 4424 1425
Email: jana.tilz@wirecard.com
Wirecard Card Solutions Limited Annelleise Miles Tel.: +44 191 227 5472 Email: marketing.uk@wirecard.com
About Wirecard AG:
Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit www.wirecard.com or follow us on twitter @wirecard.
About Wirecard Card Solutions:
Wirecard Card Solutions Ltd (WDCS), a subsidiary of Wirecard AG, is a multi-award winning issuer of prepaid cards and products in Europe. WDCS is an FCA regulated Electronic Money institution specialising in BIN Sponsorship and is a principal member of both MasterCard International and Visa Europe. WDCS issues plastic and digital prepaid products for many of the biggest and most innovative programmes in the European marketplace. www.wirecard-cardsolutions.co.uk
About GPS:
GPS is the market leading processor for both prepaid and emerging payments, providing services to some of the most innovative Fintech companies in the industry. Certified with both MasterCard and Visa, GPS can offer a global solution.
About FFF Ltd:
U is the brand name for the new U account provided by FFF Ltd. For information please contact Alex Letts on 07801 49 6464 or alex@uaccount.uk
Bottomline Technologies Media Contact:
Henry Goodwin Tel.: +1 603 501 5311 Email: henry.goodwin@bottomline.com
About Bottomline Technologies:
Bottomline Technologies (NASDAQ: Payments AssociationY) helps businesses pay and get paid. We make complex business payments simple, secure and seamless. Businesses and banks rely on Bottomline for domestic and international payments, effective cash management tools, automated workflows for payment processing and bill review and state of the art fraud detection, behavioural analytics and regulatory compliance. Headquartered in Portsmouth, New Hampshire, we delight our customers through offices across the United States, Europe, and Asia-Pacific. Businesses around the world depend on Bottomline solutions to help them make complex business payments simple, secure and seamless. For more information, visit www.bottomline.com.
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
