Barclaycard Commercial has launched its prepaid card, which according to the company will provide organizations with a simple way to improve efficiency and gain more control over their spending and the way funds are distributed.
The new card will provide extra accountability and control, with the ability to implement bespoke spending controls, claimed Barclaycard.
The product has been used successfully by a number of clients which include Adecco UK & Ireland, part of the Adecco Group, a provider of HR solutions, with over 31,000 employees and 5,500 offices, in more than 60 countries and territories around the world.
The Office Angels branches within the Adecco UK & Ireland group were sending out cheques frequently for petty cash purposes to their local offices. They adopted Barclaycard Prepaid to increase their control over their funds and to enable a simpler and more efficient reconciliation process, and are now rolling this product out to their other brands.
Simon Meyrick, treasury manager at Adecco UK and Ireland, said: “Barclaycard Prepaid has been invaluable in not only helping us to reduce our dependency on cheques, but also in enabling us to improve efficiencies and increase control over spend. Given our national footprint, the added ability to control and monitor this process centrally has proved incredibly beneficial and efficient.”
Dennis Bauer, global commercial payments director at Barclaycard, said: “The prepaid market holds many exciting opportunities for us and our customers and Barclaycard is committed to giving our customers the payment tools that meet their needs. It’s great to be working with companies such as Adecco, and seeing the success and the benefits they have had from the product.”