Prepaid cards for the voluntary sector
Prepaid cards have shown to be an effective way for grant-giving organisations to monitor how funds are spent – thus saving time and money.
The Big Lottery Fund is currently experimenting with allpay’s prepaid cards as a way of paying out grants, allowing it to monitor where the money is spent online and in real time, rather than through a retrospective, paper-based system.
allpay has also funded crucial research into the way voluntary and community sector organisations utilise and receive funding which found that those organisations “waste around £250 million a year on making duplicated or unnecessary reports to grant-making foundations and government bodies”.
The report, published by the Institute of Public Policy and Research, recommends that donors should continue to experiment with innovative forms of monitoring, such as prepaid cards, to reduce time wasted on bespoke monitoring reports.
The allpay Prepaid Card solution allows grant-giving organisations to award payments in a more timely manner with improved traceability, enhanced payment reports and full audit trails.
Customers can then benefit from a secure and convenient method of making payments and can monitor their own expenditure online.
Benefits to you and your customers...
- Saves money
- Supports financial inclusion initiatives
- Saves time
- Tightens control
- Improves security
- Fully tailored around your needs
- Strengthens your organisation's identity and customer loyalty
- No major IT system dvelopments
- Improves customer satisfaction
For your customers:
- Greater convenience
- Financial inclusion
- Quick and easy
- Enhanced customer service
We'd like to show you, first hand, how The allpay Prepaid Card can benefit your organisation. You can book a demonstration now by completing the below form!
The Prepaid Mastercard Card from allpay is issued by R. Raphael & Sons plc, pursuant to license by Mastercard International Incorporated. Mastercard® is a registered trademark of Mastercard International Inc. Raphaels Bank is a UK Bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registration number 161302) and is permitted to issue e-money. Head office and registered office at 19-21 Shaftesbury Ave, London W1D 7ED, company registration number 01288938.