Tuxedo has great experience in providing tailored corporate e-money solutions across a wide range of sectors. Prepaid cards are being increasingly used to provide safe, secure* and cost-effective payment for a vast number of corporate activities from payroll cards to incentives and rewards.
Whether it is finding a cashless alternative to wage payments, controlling your corporate expense spend, incentive schemes, benefit payments or simply providing a flexible tool to manage cash flow, the Tuxedo team will provide a prepaid solution for them all.
Below are just a few examples of how Tuxedo can provide cost-saving, secure solutions for businesses:
Payroll – Replace cash and cheque wage payments
Transferring wage payments onto a Tuxedo Card directly rather than paying wages by cash or cheque can save both time and money associated with payroll administration. It can add security for both the employer and employee and furthermore employees benefit from not having to pay cheque cashing fees whilst enjoying the wide range of functionality that the Tuxedo eccount® and card offers. The solution could be ideal for any business employing contractors, seasonal workers, recently arrived migrant labourers and any un-banked staff.
Expenses – Improve control and simplify company expenses and petty cash
Many companies find it hard to keep control of their corporate expenses, which can cause reconciliation difficulties and even cash flow or payment problems. The Tuxedo corporate expense solution allows your finance team to view employee transactions and allocate funds instantly from the master eccount whenever needed – which could be ideal in emergencies. The Tuxedo Card helps to ensure that you stick to expense budgets and ensure that employees cannot run up unapproved debt as they only spend the amount you have loaded. Certain merchant categories can even be blocked and there is also a simple solution for VAT claims that is fully recognised by HMRC. The business has no liability or credit exposure.
Debt Management – Prepaid is a positive spending habit
Many companies providing debt management services are finding a prepaid card solution is an ideal way to manage their clients’ money. Either by providing a monthly allowance on a card which can be used anywhere giving the flexibility and functionality of plastic that their clients need, or simply as an easy way to control their spending.
Rebate/Payouts – A cost effective way to create a relationship with customers
Being able to load customer cards instantly with compensation payments, payouts or rebates is a very cost effective way to build loyalty and make additional payments when required. For example, insurance companies are able to pay out claims or pension providers are able to load income onto prepaid cards.
Incentives and Rewards
Replace paper gift vouchers and cheques with our one stop solution which can be reloaded online and even linked to other reward or cashback programmes. It is a great new way to pay incentives/rewards, and the cards can be used in over 32 million locations worldwide or cash withdrawn from ATMs worldwide.
Contact Tuxedo for further information about how our corporate solutions could improve the efficiency of your business.