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TUXEDO – the leading prepay provider
Award winning Tuxedo Money Solutions was founded in 2006 and has grown to become the UK’s leading prepaid card provider. Tuxedo focuses on delivering affordable prepaid cards and other innovative stored value products that offer:
- Valuable, time and cost saving solutions for businesses and organisations
- Security, convenience and control for consumers
Tuxedo offers a range of industry leading products and services:
For Businesses
- End to end bespoke solutions for White Label prepaid cards
- Payroll cards to replace cash and cheques
- Expenses cards
- Rebate and Payout card solutions
- Incentive and Reward cards
- Transport and contactless cards
For Consumers
- General Spend cards
- Payroll card to load wages
- Travel Money
- Remittance services
- Forex cards
- Gift cards
- Instant Issue cards
- Virtual cards
- Cashback for online shopping
eccount
In 2007 Tuxedo launched Maestro and MasterCard prepaid card products together with the unique eccount® service, incorporating:
- Ability to allocate and move funds on and off cards instantly
- Service to block and unblock cards immediately
- Balance updates on demand
- Exclusive mobile eccount download application
- Bulk uploading for payroll, rebates and payouts
- Cashback at over 1000 merchants when shopping online
- Multiple touch points for customers – Call Centre, 24 hour automated phone service, online and mobile
- Technology architecture enabling additional payment services to be added easily
Guided by a board comprised of leading industry experts and experienced prepaid specialist staff led by CEO Mark Simon, Tuxedo has nurtured successful partnerships with large partners and corporate clients including:
- The Times Newspaper (UK’s leading newspaper for business people)
- The Sun (Over 7 million daily readers)
- The News of the World - Sunday newspaper (9+ million readers)
- STA Travel (One of UK’s largest retail travel businesses)
- Sunrise Radio (Over 500 000 listeners)
Tuxedo at a Glance:
- Approved MasterCard® Member Service Provider
- Partner agreement Newcastle Building Society to operate under their Financial Services Authority regulated e-money licence and as MasterCard® BIN sponsor
- Service agreement with leading high street bank, with over 2000 branches in the UK
- Cash loading agreements with Post Office and PayPoint at over 35 000 locations
Tuxedo is regarded as one of the best partners for companies entering the co-branded prepaid market by their relentless focus on brand values, marketing support and customer relationship systems.
With the recent credit squeeze, Tuxedo has also recognised prepaid cards are being considered as the mainstream alternative way to manage and control money. They are seen as the next step toward a cashless society where using plastic instead of cash is a safer and easier way for people to transact. Recent figures forecast that Europeans are expected to spend €75 billion using prepaid cards by 2010, representing 2.3 billion transactions per annum – an increase of 110% per year over the next five years.
