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January 28, 2016

Prepaid Financial Services launches MasterCard prepaid cards for asylum seekers in Europe

Prepaid Financial Services (PFS), a London-based e-money provider specialising in prepaid card issuing, has rolled out a national government payment card programe for asylum seekers across the EU.

By Verdict Staff

Prepaid Financial Services (PFS), a London-based e-money provider specialising in prepaid card issuing, has rolled out a national government payment card programe for asylum seekers across the EU.

The new MasterCard-branded prepaid cards will be offered to immigration processing centres.

The cards will be distributed simultaneously as the claimants are being processed in the centre, which will phase out the requirement for the disbursement of cash.

The project forms part of a broader implementation of e-money and prepaid solutions across various government divisions.

PFS CEO Noel Moran said: "At a crucial time in the immigration crisis in Europe, PFS is pleased to provide a prepaid product to help National and Local Governments across Europe manage funds disbursements to asylum seekers and refugees as they are being processed.

"It is important to provide claimants with a payment product that enables them to receive payments instantly from the Government. Asylum seekers are often in a vulnerable position when they first arrive, and can be targets for theft if they carry cash. Cards eliminate this threat.

Set up in 2008, PFS offers a broad range of e-money and banking solutions such as e-wallets, physical and virtual prepaid cards and current accounts across the UK and the Eurozone.

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