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March 9, 2016updated 04 Apr 2017 3:59pm

Tuxedo launches ‘Live Load’ payments platform

UK-based payments provider Tuxedo has introduced its Live Load payments technology platform for pre-paid cards.

By Verdict Staff

UK-based payments provider Tuxedo has introduced its Live Load payments technology platform for pre-paid cards.

The PCIDSS-complaint platform is based upon a single, partner-issued Visa or MasterCard that is linked to existing payment sources of customers through Tuxedo’s own platform.

The technology has been designed to help customers load cards in real time, and link their existing debit and credit cards to their payment card online or via a mobile app.

Tuxedo draws the funds from the linked card in real time during the transaction, which completely eliminates the need to prepay.

At the broadest level, Live Load will allow customers to link all their debit and credit cards to a single card. As a result, customers need to carry only one card and decide which funding card to use and choose it with the help of the mobile app.

Tuxedo CEO John Sharman said: "With so many new market entrants into the UK from overseas, we are proud to be among the first to take this game changing technology abroad."

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