Tag: Cashless

Rewarding Employees with Cash-Christmas

It might be too early to talk about Christmas, but it’s not too early to think about rewards and incentives for your employees.

Christmas is the perfect time to express your appreciation for your team’s hard work throughout the year. This festive season, B4B Payments offers a simple yet meaningful way to spread cheer among your employees – our prepaid gift cards.

These cards provide your employees with the freedom to choose their own reward and are a testament to our 17 years of expertise in payments and our global recognition as a trusted provider of card issuing and embedded payment services, now as part of the Banking Circle group of companies.

The pain points of Christmas rewards

Selecting the perfect gift can often be a challenging and complex process. It’s a delicate balance of aligning the recipient’s preferences, interests, and needs with your budget constraints. You might also need to consider the uniqueness of the gift, its relevance to the recipient, and its potential longevity. Moreover, organisational considerations such as budget, ease of distribution, and the message the gift conveys must also be taken into account.

Even after putting careful thought into these factors, there’s no guarantee that the chosen gift will hit the mark. It could be the wrong size, colour, or simply not to the recipient’s taste. This uncertainty can turn the joyful act of giving into a stressful endeavour.

That’s where B4B Payments card services step in as the ultimate solution. They are universally appreciated because they offer the gift of choice. Using prepaid cards as a form of reward, the recipient has the freedom to select something that truly resonates with them, something they genuinely need or have been eyeing for a while. It’s an empowering gift that respects individual tastes and preferences.

B4B Payments – offering unrivalled rewards and incentives

Let’s delve into some of the benefits of choosing B4B Payments for your corporate gifting this festive season:

1. Simplify management with our Cardholder app

Our user-friendly Cardholder app allows employees to manage their card balances and more easily. Plus, our dedicated support team is always on hand to assist with any queries.

2. Spend at millions of locations worldwide

Whether you’re rewarding a workforce that’s working from home, back in the office, or never stopped throughout lockdown, B4B Payments has got you covered. Our prepaid cards can be used anywhere Mastercard is accepted, including in their Google Pay or Apple Pay wallet!

3. Flexible, sustainable, and globally accepted

B4B Gift Cards offer the flexibility of being single-use or reloadable for incentives, payroll, payout, or expenses. They are made from 75% recycled plastic materials, offering a sustainable choice.

4. Expert team, advanced products, trusted global provider

Our expert team boasts a market-leading level of experience in setting up successful card programs, and we offer advanced end-to-end payment solutions to help you grow your business. As an FCA and Bank of Lithuania Authorised E-money institution, a Principal Member of Mastercard, and a partner provider to Mastercard Fintech Express Program, we are a trusted global provider of card issuing and payment services.

A gift from B4B Payments this Christmas

It’s not all about your employees this Christmas. There’s something for you, too. At B4B Payments, we’re offering FREE delivery on our cards to make your gift-giving that bit easier (and cheaper).

The minimum order value for our gift cards is £1,000, and this applies only to non-branded cards. The offer is limited to a single bulk order to a UK office address, with each card carrying a minimum load of £10. This special offer is available until October 31st, 2023.

Want to know more about rewards and incentives

Rewards and incentives can be offered all year round to improve employee retention. Take a look in more detail into how B4B payments use 17 years of experience in the payments industry to offer seamless rewards and incentives for businesses around the globe.

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Tags Cashless, christmas, prepaid, prepaid business cards, rewards

Expense Management Insights Newsroom Payroll & Payouts Uncategorised

It is time to move on from petty cash

The petty cash box used to be an essential part of an office environment. A shared box of money that can be used for employees to make payments for small company-related expenses; it sounds fine, right? Simple enough. Addresses a need. Wrong! Petty cash is an antiquated headache, and now is the perfect time to go cashless, by exchanging your petty cash box for a smarter way to make payouts.

Why is petty cash so problematic?

Petty cash has significant security risks

So why move on from a physical petty cash box? There are many reasons, but the most pressing is the security risks associated with it. It is all too easy for a thief to take money from the petty cash box, or steal the box itself. Depending on how much money you keep there, it could be quite a blow to your ability to provide employee incentives such as that Friday team breakfast paid for from the petty cash box.

It’s hard to keep track of petty cash

Another reason to trade in the old petty cash box is that it is very difficult to keep an accurate record of the incoming and outgoing cash, and what each withdrawal is for. Keeping on top of this requires a high level of detail, but is often nobody’s official “job”, which results in wasted employee time and often inaccurate accounts.

Okay, petty cash is dead. What’s the alternative?

There is a way to move on from the petty cash box seamlessly, while still providing employees with a way to use company money for those small expenses. A prepaid virtual card is a perfect way to create an easily traceable and audible “petty cash” account that is entirely based on a digital card.

Why are virtual (digital) cards better?

A prepaid digital card is a far more secure way to provide employee incentives. Since the money is all loaded onto a card, it is not easy pickings for thieves; it is both harder to steal and easier to keep safe. It can simply be kept in a secure place by a team leader, or in a locked drawer, but it is not as bulky and visible as a traditional petty cash box.

Your card will allow you to load money on quickly and easily so that you can provide employees with the convenience that they want without having to count every penny when they pay for a working lunch.

Ready to move on and ditch the petty cash box of yesterday? Replace it with prepaid cards for your business payments and enjoy headache-free accounting, improved security, and simplified payments.

Tags Cashless, digital cards, virtual cards

Company News Newsroom Uncategorised

B4B Payments Announces Strategic Expansion into U.S. Market

B4B Payments announces new collaboration with Visa in the U.S.

Digital payments company, B4B Payments, today announced a strategic collaboration with Visa in the United States. B4B Payments will leverage Visa’s proven scale, security and reach to grow in the U.S. market. The B4B payments program will be delivered on Visa Debit Cards and supported by Visa DPS for issuer processing services.

The move will see B4B Payments’ technology aiming to help companies facing challenges with outdated payment methods in the United States. Due to open its first U.S. office in Boston, Massachusetts in August 2020, this announcement marks a significant leap forward in capability for B4B Payments.

“Now is the right time for us to unleash our platform into the U.S. market and help companies free up their time from the sometimes-antiquated expense management processes in the same way we have in Europe. We are looking forward to achieving similar levels of success by collaborating with Visa to take our product forward.”
Paul Swinton Founder and CEO of B4B Payments

B4B Payments’ technology helps to streamline the payment process for organisations who had previously found difficulty managing issues that can be associated with traditional payment methods, such as employee expenses or third-party payments. The platform is entirely digital and can be used in conjunction with the B4B app to enable updates on the go, featuring automatic notifications of funds received, reminders for receipt input and freeing up the business to spend more time on other tasks. The technology allows for increased visibility and control over the expense payments that a company makes to its staff and suppliers. B4B Payments is particularly useful for agile digital companies without the resources to employ full-time administrative staff, or who employ gig economy workers and contractors, because payments can be tracked and made as needed without needing a central interface.

Kieran Draper, Head of B4B Payments (USA) Inc, comments, “We’re delighted to be able to announce the company’s expansion into the U.S. market, which has been a corporate ambition of ours for some time, and to transform the sometimes challenging process of business payments alongside a global brand like Visa is a great privilege.”

Our platform assists U.S. businesses facing challenges with purchasing and payments, in a world where the gig economy is growing massively. We hope to provide these businesses with a swift, secure and easy-to-use platform that gives them more time and effort to focus on their trade, rather than their administration.”

“We have successfully worked with fintech organizations across the globe to provide a clear path towards getting to market faster and more efficiently, leveraging Visa’s scale, security, reach and strong network of partners. By working with B4B payments on their expansion to the U.S., we are continuing our support for fintechs, with the goal of accelerating the growth of the payments industry and creating better ways to help move money everywhere.”
Terry Angelos, SVP and Global Head of Fintech, Visa

B4B Payments announces this exciting news off the back of an excellent 2019, which saw the company win Best Prepaid Product of the Year at the 2019 European Card & Payments Awards. With over 1,000 customers in Europe alone and several award wins under their belt, this expansion into North America represents a significant milestone for the company.

Tags B4B News, Cashless, payments, US Fintech, Visa

Insights Newsroom Tools & Guides Uncategorised

How to avoid invoice fraud

According to UK Finance, UK business lost a total of £93 million in 2018 to invoice fraud, with the average payment to fraudsters being £20,750. To help you avoid losing potentially thousands of pounds, we’ve put together a list of things that you can do to avoid invoice fraud.

Scrutinise all invoices

It’s extremely important for you to scrutinise all of the invoices that you receive. The differences between a false invoice and a real one will be subtle, but if you look closely, you should be able to identify a fake. Common indicators of a fake invoice include a different phone number or contact name for correspondence, a change in payment methods, changes in the amount to be invoiced, a new signature, blurred logos, the addition to bank details that didn’t appear previously and email addresses with small changes.

Listen to your instincts

This might seem trivial, but it is important to listen to your instincts when analysing invoices. If an invoice does not seem genuine, it is probably a good idea to take a closer look at it. In order to stay in control of your payments, try and be more confident when refusing payments or unexpected information requests so that you don’t end up making a mistake under pressure. It’s better to be safe than sorry!

Don’t click suspicious links

This is a general rule of thumb for using the internet, but in order to avoid invoice fraud, never click on the links that appear in an unexpected text or email. Fraudsters are becoming more sophisticated than ever and it is now incredibly easy to create email addresses that look genuine upon first glance, but if you look closely, you might notice that certain names or words in the address are spelt incorrectly.

Check on suppliers

Fake invoices are often issued under a legitimate name with a fake bank account number or email address or under a false business name. When you’re taking on a new supplier, it’s a good idea to do your research into their business to ensure that they are legitimate and to search for their business address on Google maps. If their address is a PO box or a residential address, this could indicate that they are committing fraud. Where possible, if your existing suppliers get in touch claiming that they are changing their bank account or address, contact them directly to make sure.

Conduct multiple-stage authorisation

If you have the staff capability, it’s a good idea to hold multiple people responsible for the authorisation of payments. You could give the department or person associated with the expenditure responsibility for authorising the payment. The more people you have on hand to check each invoice, the more likely it is that someone will spot something suspicious.

If you’re looking to take control of your company spending in a secure and safe manner, get in touch with our expert team at B4B Payments today.

Tags Accounting, Cashless, CFO Advice, payments, prepaid, prepaid business cards

Expense Management Insights Newsroom Payroll & Payouts Tools & Guides Uncategorised

The Pros (and cons) of being a cashless organisation.

It’s not uncommon for businesses to question whether they should adopt a cashless policy or not. Recent global events, such as the coronavirus pandemic, have led to an increase in credit and debit card payments. Digital wallet services like Apple Pay are also experiencing exponential growth, as increasing numbers of consumers and vendors embrace cashless payments.

However, in some industries – particularly in business-to-business environments such as wholesalers or supply merchants – cash is still commonplace. This article covers the pros and cons of switching to a cashless payments model and is designed to help you to determine whether going cashless is the right solution for you.

The pros of adapting a cashless policy

Save time – and money!

While businesses are expected to pay fees on credit card transactions, it’s worth noting that processing cash sales can take much longer. Ultimately, the time spent processing physical cash transactions could be better spent elsewhere. With cashless transactions, you’ll spend less time making trips to the bank, counting cash at the end of the day, and entering cash transactions into your accounting software.

Increased efficiency

A simple tap or swipe of a prepaid business card, credit card, debit card or mobile phone is much more efficient than giving out petty cash. If your business frequently experiences last minute or on-the-spot purchase needs, you may find that a cash-free solution helps to alleviate backlog in accounting.

Easier accounting and money management

If you’re frequently spending time poring over transactions while trying to determine why your expenses aren’t tallying correctly, it’s time to think about going cashless. With a cashless solution from B4B Payments, each transaction is tracked and receipt uploads are a breeze with the mobile app. This makes accounting more accurate and increases efficiency in the workplace.

Reduced risk

If your business keeps cash on the premises, you’ll always be vulnerable to theft. By switching to a cashless policy, you’ll improve the physical security of your staff and customers. Cashless transactions are also more hygienic – and your team and vendors will value this in a post-pandemic world.

Enhanced expense management

Going cashless isn’t all about finances coming in – it concerns your outgoings, too. Whether you’re purchasing from suppliers or covering the corporate expenses of field agents and reps, your expenses are easily tracked and managed when you go cashless.

Access valuable data

Cashless transactions generate a multitude of valuable consumer information. This data allows you to analyse the purchasing trends and spending habits of your card recipients and employees, which can be used to improve your financial strategy.

Cons of adopting a cashless policy

Increased card fees

One of the biggest bugbears for small-medium enterprises is the dreaded card transaction fee. To combat this, some companies factor card fees into their pricing structure, which could mean having to slightly increase the amount you charge your customers for your products.

*Pro tip- Read the fine print. Many prepaid card programmes offer cheaper rates from the outset, with hidden fees or margins on FX rates for transactions. Ω`

Some people prefer cash

For some organisations depending on who you’re distributing your cards to, cash is still king. In particular, older recipients of funds, are more accustomed to paying with cash and could feel alienated by your decision to adopt a totally cashless policy.

Is going cashless right for your business?

There are a lot of variables to consider before going cashless. Businesses in certain industries might benefit from going completely cashless, while others might still want to hold out before no longer utilising cash payments.

Whether you’re ready to take the plunge or not, having a cashless payment solution can certainly increase efficiency, provide you with better understanding of where your money is going, and streamline your accounting process. If you’d like more information, why not contact us to find out how B4B Payments could transform your fund disbursement today?

The benefits of a branded prepaid business card

To brand or not to brand?

Wait… Is that even a question? Brand! Brand everything!

Often when somebody goes on a company trip, they’ll travel out with a business credit card in order to cover their expenses. This has been the typical method of corporate expense management and keeping your spending on trips under control. However, the use of the branded prepaid business card is on the rise. Here are a few reasons that these cards are beneficial for both the brand, the business, and its users.

A high level of management control

Using business credit cards can often be a struggle, as too many cards being in circulation can be difficult to track. Using a management control platform such as B4B Payments means that you can keep track of all of your corporate expense cards, generate spending reports, and load cards individually or in bulk. This makes the amount of control you have over your corporate expenses far more secure and is a big step towards accurate real-time tracking of company finances and spending.

Personalisation can boost your brand

The improvement of your brand is always a big benefit to any company, and prepaid business cards are not exempt from this idea. When your employees go to a conference and need to cover for their expenses, they can reach down into a wallet and show off your company’s brand whilst paying for anything they get when away. This is a quick and easy way to get your brand seen by more people, often industry professionals, whilst putting minimal effort into getting this exposure. With a colourful and vibrant company expenses card, your business can stand out from the crowd.

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Control your expenditure

Everyone’s heard the nightmare stories. Employees often go on long trips to conferences or retreats and may overspend far beyond what the company initially anticipated. With a credit card, it is much harder to stay within these limits compared to a debit card. Using a prepaid business card, there is no credit involved. Your company’s representatives are limited by the amount that is paid onto the card, and therefore can’t overspend and leave your business in financial trouble. Peace of mind is valuable in business, and that is exactly what this card can offer you.

If you’re interested in a prepaid personalised business card in order to control your corporate expenses and get your brand out there, get in touch with B4B Payments. Our team of experts will help to explain all of the available options to you and find you a bespoke way forward.

Tags branding, Cashless, cobranding, payments, personalised cards, prepaid

Company News Newsroom Uncategorised

B4B Payments chooses LHV Banking Services to fuel growth

LHV, the financial and payment services provider, is pleased to announce award-winning corporate prepaid payments solution provider, B4B Payments (‘B4B’), has become the latest FinTech customer of its London branch.

Since the launch of its London office in 2018, LHV has now quadrupled its client base to 120. Customers are predominantly financial institutions and FinTechs, who have been drawn to LHV’s value proposition, its ‘one stop shop’ offering that covers large scale banking service requirements, and its partnership model whereby LHV works closely with clients to develop custom made solutions that satisfy their individual requirements.

FCA authorised B4B will gain access to LHV’s full service offering including state of the art payment infrastructure and real time Euro and Sterling payments capability via Single Euro Payment Area (‘SEPA’) Instant and Faster Payments schemes respectively. In addition, B4B will benefit from access to LHV’s Application Programming Interface ‘LHV Connect’, which offers a wide range of services, including GBP and EUR safeguarding accounts, Virtual IBANs, currency exchange, liquidity services and where appropriate financing.

B4B Payments, veteran prepaid payment provider in Europe, is going global, expanding operations in North America and opening its first US offices in Boston. The platform enables organisations of any size to manage expenses, simplify payroll, reimbursements, and offer employee rewards and incentives.

As a leader in Fintech and prepaid business payments for over 14 years and voted the Best Prepaid Product of the Year in 2019, B4B Payments continues to offer innovative, flexible, and time-saving solutions that streamline and eliminate antiquated finance and accounting processes.

Andres Kitter, Head of LHV’s UK Operations, said, “Our decision to establish a presence in London post the 2016 Brexit referendum was to increase our presence in what remains one of the leading financial and fintech sectors in the world and in the process attract customers of the calibre of B4B. The company has been operating for fifteen years, which shows significant experience and market resilience and we are delighted that two profitable organisations are partnering for continued growth.

“In a little over two years, we have not only quadrupled customer numbers in our London office to 120 but also significantly diversified our client base so that the companies we serve range from payment service providers to FX brokers and from startups to established financial institutions and unicorns. All our clients are subjected to comprehensive onboarding procedures and due diligence and encouragingly we have a growing pipeline of potential customers currently undergoing this process. I am therefore confident that the momentum behind our London operations will be maintained going forward.”

B4B CEO and co-founder, Paul Swinton said, “We looked at a number of providers to provide safeguarding and virtual IBAN capabilities. LHV came out on top due to their flexibility, functionality and value proposition. We migrated our clients easily onto the platform and we are very happy with the service to date. LHV will also be able to support us when we establish our European operation later this month with a one stop solution.”

Tags B4B News, Cashless, fintech, LHV, partnership

Case studies Insights Payroll & Payouts Uncategorised

Alpha Contract Solutions simplify and streamline payouts to their temporary and unbanked workers

Shot of a young woman working at a construction site

Alpha Contract Solutions is a dynamic HR company, supplying civil engineering consultants and contractors to prestigious projects across Europe. They needed a smart, flexible and secure payment system to manage their payroll of UK contractors, many of whom are working on temporary projects in other countries, without local bank accounts. The innovative and award-winning prepaid Mastercard solution from B4B Payments turned out to be a great fit for their business.

The next level in employee satisfaction

Prior to turning to B4B Payments, ACS used the legacy banking system of international transfers across borders, but found that the process was difficult and time-consuming for both management and the contractors out in the field.

Managing director Sefton Hanley said: “The service we received from banks was slow and expensive with payments sometimes taking days. We need to look after our people, and delays like that are unacceptable.”

With prepaid cards, the process is fast and easy. ACS contractors are issued with an ACS branded card, which can be loaded with funds quickly and securely. There is no requirement from the employee to fill in any paperwork and recipients receive an SMS notification once the payment has been made. They can then use the card to pay for goods and services anywhere a Mastercard® payment is accepted, online or in-store. The funds are immediately available, and the card can be used worldwide 24/7.

Secure, efficient and fraud-proof

The B4B Payment system eliminates the complicated accounting processes involved when handling cash and expense forms. ACS management found the process, with its clear audit trail, an ideal way to streamline their payroll system. If a card is lost, it can be easily replaced, with no risk to the business. The card is sent directly to the employee and usually arrives within 24 hours. If there is an emergency, top-up funds can be loaded onto the card quickly and securely and the system is fully controllable. Incentives, expense costs and rewards are also all easily incorporated and managed.

Outstanding service and support

The management of ACS is dedicated to being hands-on and detail-oriented, with a commitment to supporting complex projects that operate around the clock, in multiple time-zones. This means that they require very high standards of support from all of their suppliers. They found the team at B4B Payments more than equal to the task. From initial meetings to the system going live, the process was smooth and effective.

“The service we’ve received from the team is great – the whole thing has worked well right from day one,” added Sefton Hanley.

For ACS, partnering with B4B Payments has clearly proved to be a winning strategy in managing their payroll efficiently and cost-effectively, with maximum benefit and satisfaction to their employees.

Replacing flawed paper systems for school meals, with easy to use cards

There is huge pressure on schools to find reliable ways to enforce social distancing and infection control measures, and one of the most debated ‘hot spots’ will be around the serving of meals.

Cashless payment is now common in canteens, but in some instances still relies on paper – such as free school meal vouchers – or some handling of coins and notes. Both of which we will address in the article.

Existing systems to pay for food in school canteens – and recently in the wider community – have already caused education managers and headteachers countless headaches.

Recent press headlines show that users of free school meal vouchers have run up against system failures that left them embarrassed – and potentially hungry!

This shows that investment in the latest cashless payment systems is necessary for a number of different but equally important reasons, particularly to iron out issues with free school meals.

The free school meal fiasco

The technology exists to enable the Government to provide help for low-income families within schools, discreetly and reliably. Also, in B4B Payments, the Department of Education, local authorities, and schools have a supplier who can provide secure and hygienic payment cards within days.

Yet, the way meal vouchers have been distributed during the pandemic crisis has largely revolved around printed slips. In many cases, already challenged and stressed school staff have been tasked with printing off free school meal vouchers.

As the national media coverage has highlighted, this has left some parents with paper vouchers that don’t work when they try to redeem them in shops. A cause of massive confusion and upset.

Some schools have even resorted to creating their own systems to help low-income families, necessitating large payouts and deals with local food retailers and supermarket chains.

Is this really necessary, when a system exists to connect, streamline and simplify free school meal provision using prepaid cards from B4B Payments? Cards that can be used in shops, or within school canteens, with the minimum of admin and hassle!

Curious about the tends in cash vs card?

dOWNLOAD OUR GUIDE TO CASHLESS

How clean is cash?

The World Health Organisation (WHO) and other authoritative bodies are urging everyone to wash their hands well after handling coins and notes – especially in situations where you are eating and drinking. There has also been a widespread surge in moving towards payments via a smart device, credit or debit card, or prepaid card.

In a school, moving wholesale to prepaid cards limits contact between the children and cashier. It also means less likelihood of infection transmission on alternative payment tools or money. Another reason why the Department of Education and local authorities must take secure, easy-to-clean and convenient prepaid cards seriously.

Perhaps, this is one time when the ‘pester power of parents’ needs to come into play. They can persuade the Government to use the simplest and best technology to make school meal payment systems problem-free, with cards from B4B Payments that can be delivered in days.

Tags Cashless, money management, prepaid

Company News Insights Newsroom Tools & Guides Uncategorised

How to maintain customer service in challenging times

Due to the unprecedented situation of COVID-19, many businesses are struggling to maintain their customer service standards while complying with social distancing rules.

B4B Payments, who offer businesses smart, flexible payment solutions, were one step ahead of the cashless trend and recently shared their insights into maintaining customer service whilst co-hosting an online panel with PIF (Prepaid International Forum.)

During the first few weeks of the UK lockdown, demand for customer service surged as the UK public were unsure how nationwide restrictions would affect their day to day lives. Essential businesses who were still able to open, struggled with the demand for digital payments, as the government advised to limit the exchange of cash where possible. B4B Payments have been providing their services to help businesses with outdated payment systems to be able to offer digitised payment options. CEO of B4B Payments, Paul Swinton said, “We have always digitally engaged with our customers, and now with less time spent on commuting we have more capacity to identify opportunities where we can help customers.”

B4B Payments were able to effortlessly transition to working under the government’s new guidelines as they had created a COVID-19 crisis plan when news of the virus first hit UK headlines. The team were forced to put this plan into effect early when Paul learned one of his team had been exposed to the virus.

Early adaptation for remote working ensured his team were ready and prepared to quickly adapt to working from home. For example, each team member had access to well-configured technology to ensure they could work from home safely and productively. Technology the business is currently using includes Slack, VOIP telephony and signal encrypted chat software.

When the government announced working from home was essential, B4B Payments were able to confidently assure their customers they were offering business as usual. On the priorities of the company Paul said “Most importantly, robust steps had been taken to control the potential spread of the virus and to protect our valued staff members and their families. Our second priority that day was to underpin services offered to clients.”

In fact, the B4B Payments team were so efficient at transitioning to remote working, Paul has raised the question of how easily and willingly workers will transition back to the office environment. He explains, “We were concerned that some people would find it uncomfortable, but we are seeing quite the opposite…We need to be very aware of this because the crisis could trigger a shift towards more home working. Businesses will need to think carefully about this and develop interim plans.” Employees may be reluctant to return to a workplace due to fears of public transport and because they have enjoyed the flexibility that comes with remote working.

Download the PIF White-paper

As a company who offers financial solutions to businesses, B4B Payments are no strangers to dealing with sensitive information about payouts and anxious clients. During this time, the demand for charities to deliver prepaid card solutions to those in need has skyrocketed and B4B Payments are working tirelessly to ensure these payments can be made. Paul ensured every member of the B4B customer service team had refresher customer service courses to ensure they could help vulnerable, scared customers during this unprecedented time. He explained why these refresh courses were essential to his business as “With these rapid digitisation projects come many thousands of potentially very vulnerable cardholders who may need technical and other help from our customer support team.”

Of course, with COVID-19, businesses who were well prepared for the pandemic are not just scrambling to provide adequate customer service, they are quickly adapting to the new measures to enhance how they operate as a business. B4B payments, for example, are finding faster and efficient ways to adopt a pragmatic response to emerging client queries. As businesses are more readily available to discuss their specific needs during a pandemic, B4B Payments have found they are able to quickly spot ways they may be able to help a business.

So, how have B4B Payments managed to maintain their customer service standards during the pandemic? The answer lies in the early adoption of fintech. Paul explains “We all agree that it hasn’t been a massive change for us, but that’s because we sit in this highly innovative fintech space.” The pandemic may encourage more businesses to adopt cashless solutions in the future so they can stay ahead of the curve, rather than waiting for them to be enforced.

Tags Cashless, COVID-19, PIF, prepaid