Prepaid Cards are used by numerous Public Sector Organisations including Local Authorities, Health Services and quasi governmental organisations to manage one off and recurring payments for benefits, disbursements, loans, grants, direct payments and a lot more.
This drive towards prepaid cards is partly down to Government outline austerity measures and new legislation around crisis loans and community care grants but there is a growing trend amongst public sector organisations to eliminate all forms of paper disbursements.
The Drive towards Prepaid Disbursements and Payments
- Aim to provide a better quality of service to recipients
- The need to improve cost effectiveness and reduce the cost of benefits disbursement
- The need to improve process efficiency and eliminate waste
- Need for increased control and transparency
Benefits of Prepaid Disbursement and Payment Cards
- Reduce costs associated with paper disbursements
- Ease of Tracking and Monitoring disbursements and spend
- Reduce exposure to fraud and risk of lost disbursements and lost cheques
- Recover contributions early and directly
- Reliable Audit Trail
- Greater staff efficiency creates additional resource
If you wish to launch a prepaid disbursement or benefits scheme, contact a prepaid card provider from our list of prepaid card providers.