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50 Most Trustworthy Companies of the Year 2020

A forerunner in the digital payment solutions segment Prepaid Financial Services (PFS)


E-money is one of the newest payment instruments. As an integral part of the new electronic payment system, e-money is gaining professional interest in its further development of banking functions in the networked economy. The telecommunication network and the internet is used to transfer the electronic money while it is stored on the server. E-money is mostly offered in the market through the nonbanking institution. In recent times, e-money and electronic payment systems are on the top-ten list of issues for those with significant interests in financial services. Breakthroughs in technology have promised a secure payment environment for consumers. The dynamic nature of the emerging market has given rise to new challenges. Dynamism is already present in the payments area, and for the next decade, we are well settled for the changes in the payment landscape. Cutting edge technology will completely alter the next-gen payment systems. FinTechs and established players in this field will drive innovation. Due to the regulatory interventions, the payment ecosystem will be redefined.

The world of payment will look completely different from what it is today, and Prepaid Financial Services (PFS) is expected to play a crucial role in the development. The company provides multi-award-winning payment technology solutions by offering comprehensive innovations in e-money. PFS was founded in 2008, and it is based in London, England. The company is delighted to be a payment provider of choice. It powers complex payment solutions that they make simple for end-users through their market-leading prepaid platform and payments technology. PFS’ service line includes its own label and white label e-money financial solutions, including e-wallets, prepaid cards, and current accounts. The company provides complete end to end solutions for clients by designing, developing, implementing, and managing these programs.

In conversation with Noel Moran, CEO and Founder of Prepaid Financial Services (PFS)

Q. How do you define the current global financial and e-money payment landscape?

PFS is an exceptional leader in delivering rapid relief and emergency funds disbursements to a diverse range of companies to help vulnerable and clinically vulnerable people and their carrier's gain access to our prepaid solutions - fast, especially during the COVID-19 pandemic which hit the UK and European economies hard in H1 2020. As a way of background, PFS is a true pioneer in pushing forward FinTech for social good, which is deeply embedded in our DNA and our company culture and values. We are proud to be a workplace of choice for payments professionals in Europe and around the world. We place considerable emphasis on our corporate values and Corporate Social Responsibility policies in our operations and in our valued partnerships.

Q. Do you provide tailor-made solutions depending on the clients' requirements?

'Bespoke' is in our DNA as PFS is chosen by other FinTechs to revolutionize the digital economy in real-time. The company develops a range of trendsetting mobile payment and wearable solutions securely and seamlessly by providing quick and easy integrations into mobile payment applications.

Q. Internet banks or banking process creates a lack of personal relationships with bank personnel. How do you leverage modern technologies to bridge this gap?

Agility means we move faster than traditional banks and ship products out the door faster than they can put a development plan in place. Governments trust PFS' products and state-of-the-art technology platforms, Local Authorities, Non-Governmental Organizations (NGOs), Mobile Network Operators (MNOs), Traditional Banks, and a comprehensive list of Corporates.

Q. How do you gain sustainability, speed, and cost out in order to expand in the payments sector—particularly with the small-to-medium enterprise (SME) segment?

Speed and affordability make us the first choice for fast, world-class FinTech solution deployments worldwide for this important segment that traditional, larger organizations have underserved for years.

Q. Cybersecurity is the top priority of any financial services company. How do you secure your clients' data without increasing the complexity of financial activities?

We constantly invest in making our robust infrastructure ready for the demands of a future cashless society where the need for cash-free has accelerated during the COVID-19 pandemic.

Q. How do you resist the ever-growing global political and economic factors that affect the financial/ payments sector?

We are proud to work in a highly regulated financial environment and thrive on successfully navigating the complexities and various regulatory structures from country to country and continent to continent. We work with regulators to enhance financial technology for everyone.

Q. Transparency and hidden charges are the main concerns of customers in the e-payments industry.

As an entity regulated on several continents, we follow best practices and expected transparency directives. We are mindful of remaining customer/consumer-friendly in our interactions and with our solutions.

Meet the leader behind the success of Prepaid Financial Services (PFS)

Later this year, Noel Moran will write himself into the history books when he is unveiled as the European Entrepreneur of the Year for the third year in a row. The CEO kickstarted his Financial Services career after leaving Saint Patrick’s Classical School in Navan, County Meath, Ireland, aged 17. He worked with two of the main traditional Irish banks, Permanent TSB and AIB. From there, he enjoyed a rapid ascent within the banking world in the United Kingdom, working at Lloyds Bank, Royal Bank of Scotland, Co-Operative Bank and MBNA. Since founding Prepaid Financial Services (PFS) in 2008, Noel has been instrumental in the evolution of the FinTech industry. Within just a few years, he was the CEO of one of the fastest Financial Technology companies in the world to become profitable. PFS has returned profits for 11 consecutive years and has been awarded a list of major accolades for its innovative electronic money solutions. In 2019, the prestigious European Business Awards named PFS the Business of the Year in the UK. Noel’s expertise in FinTech, innovation, e-money, banking solutions, e-wallets, physical and virtual prepaid cards, and current accounts in the UK, means he is a regular guest in-studio on TV, radio, newspapers, and magazines. Noel is an Official Member of the Forbes Finance Council in the United States, and he writes about the international payments industry for

PFS has invested considerably in building and developing its own technology assets. Our customizable platforms have been built with our partners' unique requirements in mind.”