Lloyds TSB Commercial Finance introduces pre-paid program with CredEcard

by LJ Miehe on March 11, 2009

CredEcard specialises in creating ‘white label’ prepaid card programmes for a variety of diverse payment solution requirements. The recent development of a new payroll prepaid card application for Lloyds TSB Commercial Finance has enhanced their present portfolio of financial service products offering an efficient and cost effective payment solution onto a prepaid card.

The Acorn prepaid MasterCard card was launched on 20 February 2009 to complement the current portfolio of products that Lloyds TSB provides via its recruitment finance division.

Lloyds TSB Commercial Finance supplies a comprehensive range of payroll solutions for agencies providing specialist financial advice and services to companies of all sizes, and in all sectors. The recruitment finance division services around 15% of recruitment companies in the UK, and offers a product portfolio consisting of invoice discounting and factoring, plus payroll finance from its Cash Friday operation.

The Acorn prepaid card enhances and extends the current features offered by the recruitment finance service. The card delivers a prepaid application supporting an efficient and cost effective method of payroll provision in combination with a prepaid card facility.

Lloyds TSB Commercial Finance has introduced the Acorn prepaid card to enable agencies to pay their temporary unbanked staff in the same way as banked staff. Employees receive instant access to their wages and gain the added flexibility of a card that can be used to pay in both real and virtual environments where MasterCard is accepted and withdraw cash from ATMs.

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