Tuxedo Money Solutions has partnered with EMR, one of the world’s leading scrap metal recyclers, to provide them with a prepaid MasterCard solution to enable them to meet changing government legislation.
As of December 2012, the Government imposed a cash ban across the metal recycling industry in England and Wales meaning that cash can no longer be paid for scrap metal. EMR has responded quickly by working with Tuxedo to offer its account holders an alternative method of payment.
Tuxedo Money Solutions is one of the UKs leading e-money solutions providers, supplying a broad range of MasterCard and Visa prepaid payment options for some of the world’s most respected companies.
Through the partnership with EMR, Tuxedo has created a scheme which enables the company to provide their scrap metal customers who would have previously been paid in cash, a prepaid card. Tuxedo has integrated its card issuing and loading platform into the EMR core business systems so that scrap can be weighed, purchased, payment cards issued and money loaded to them all in real time. The card holder is then able to use the card anywhere they see the MasterCard symbol – including ATMs.
The same card can also be reloaded and used repeatedly for up to 3 years.
Paul Smith from Tuxedo Money Solutions said:
“EMR and Tuxedo have worked in harmony to ensure that the new legislation passed by the government is complied with. In line with the requirement for recording the identity of the customer, Tuxedo has also electronically linked into EMR’s core IT platform”.
Graeme Carus from EMR said:
“We have been very pleased with the experience we have had with Tuxedo. They have moved really quickly and provided us with an excellent service. The Tuxedo pre-paid card is a very important part of our range of flexible, convenient and above all legally compliant payment methods and has been well received by our customers.”