allpay Limited successfully introduces staff prepaid card ahead of external UK launch

The UK’s leading payments specialist allpay Limited has successfully launched its new prepaid expenses card to internal staff, with the aim to launch externally to consumers and businesses later this year.

The internal launch comes after allpay received authorisation to operate as an e-money provider by the FCA, back in May 2016.

The existing allpay staff travel and expenses card has been replaced by the new prepaid card which will allow staff to pay for expenses up to a specified limit, whilst removing the need for employees to claim back expenses at the end of each month.

Previously, as a provider of prepaid cards, allpay wanted to move from a position of ‘Programme Manager’ with a sponsored bank, to gaining a licence that allows for allpay to operate as its own issuer, trading as a principle Mastercard member.

In the near future, allpay’s aim is to provide customers with programmes that are multi-functional, and multi-national. This new capability will allow allpay to manage client funds, organise banking arrangements, and operate schemes for other programme managers within the UK and across Europe – a region it had not previously been able to operate within. This will provide customers with multiple solutions from government payments, creating loyalty through gift cards through to expanding services. 

Following the successful internal launch, allpay will soon launch branded prepaid cards in a range of sectors from holidaymakers, festival goers and kids to business rewards, company expenses and local government.

Tony Killeen, CEO of allpay said “This internal launch has been a fantastic trial run for us before we launch to consumers and businesses later on in the year. We are pleased to see the new card already being well liked by staff. This launch marks an exciting milestone and gives us a tremendous opportunity to grow in sectors beyond our traditional local authority and housing association markets.”

allpay Limited gained permission to operate as an e-money provider after successfully demonstrating it had the required policies and procedures in place, the necessary IT infrastructure and controls, and a regulatory five-year business plan.