PFS Sees 107% Increase in Prepaid Business Account Usage
Co Meath-based prepaid financial services have seen a significant 107.28% increase in the use of smart payment solutions since the Covid-19 outbreak.
Prepaid financial services provide e-wallets and digital banking software, among other services.
It said it added a premium business checking account product to its prepaid offering, which is also available through Fitbit Pay, Garmin Pay and Google Pay.
PFS said that during the Covid-19 restrictions, ready-made prepaid business accounts have become popular with start-ups and SMEs that want to navigate the complexities of the coronavirus era with safe and transparent efficiency. without cash.
The prepaid element has become attractive to budget-conscious businesses via limits that can be set on accounts, the company added.
Amanda Harrison, business development manager at PFS, said Covid-19 has proven that multi-channel digital solutions are key to moving money faster and more securely around the world.
“With our framework, technology and partnerships in place, PFS has also been able to provide rapid response solutions to our clients to reach vulnerable people through the disbursement of emergency funds during these challenging times,” added Mrs Harrison.