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How to avoid invoice fraud

According to UK Finance, UK business lost a total of £93 million in 2018 to invoice fraud, with the average payment to fraudsters being £20,750. To help you avoid losing potentially thousands of pounds, we’ve put together a list of things that you can do to avoid invoice fraud.

Scrutinise all invoices

It’s extremely important for you to scrutinise all of the invoices that you receive. The differences between a false invoice and a real one will be subtle, but if you look closely, you should be able to identify a fake. Common indicators of a fake invoice include a different phone number or contact name for correspondence, a change in payment methods, changes in the amount to be invoiced, a new signature, blurred logos, the addition to bank details that didn’t appear previously and email addresses with small changes.

Listen to your instincts

This might seem trivial, but it is important to listen to your instincts when analysing invoices. If an invoice does not seem genuine, it is probably a good idea to take a closer look at it. In order to stay in control of your payments, try and be more confident when refusing payments or unexpected information requests so that you don’t end up making a mistake under pressure. It’s better to be safe than sorry!

Don’t click suspicious links

This is a general rule of thumb for using the internet, but in order to avoid invoice fraud, never click on the links that appear in an unexpected text or email. Fraudsters are becoming more sophisticated than ever and it is now incredibly easy to create email addresses that look genuine upon first glance, but if you look closely, you might notice that certain names or words in the address are spelt incorrectly.

Check on suppliers

Fake invoices are often issued under a legitimate name with a fake bank account number or email address or under a false business name. When you’re taking on a new supplier, it’s a good idea to do your research into their business to ensure that they are legitimate and to search for their business address on Google maps. If their address is a PO box or a residential address, this could indicate that they are committing fraud. Where possible, if your existing suppliers get in touch claiming that they are changing their bank account or address, contact them directly to make sure.

Conduct multiple-stage authorisation

If you have the staff capability, it’s a good idea to hold multiple people responsible for the authorisation of payments. You could give the department or person associated with the expenditure responsibility for authorising the payment. The more people you have on hand to check each invoice, the more likely it is that someone will spot something suspicious.


If you’re looking to take control of your company spending in a secure and safe manner, get in touch with our expert team at B4B Payments today.

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How to be a top performing CFO

If you are currently a Chief Financial Officer (CFO) or hoping to secure a CFO role for yourself, you may be wondering how to be the best, top-performing CFO possible. Below we outline just some of the skills and characteristics a CFO should have to ensure they bring as much value as possible to their organisation.

1. Transparency

It is important a CFO knows how to create and maintain a trusting, transparent environment. The financial status and figures of a business are an essential element of its foundation. If a CFO is able to be transparent about the financial position of its company, it helps to build trust and ensures all departments and employees are working on the same page towards the same goals.

2. Communication

While it may seem obvious to say that a CFO should have good communication skills, simply being able to communicate well is not enough for a CFO. A CFO should have a flexible communication style that allows them to adjust their communication techniques when working with different departments or individuals. Throughout the course of a day, a CFO may need to communicate with subordinates, board members, business partners, suppliers and the media, making a flexible communication style essential to ensure they can build strong, lasting relationships with everyone they communicate with.

3. Solution-orientated

In a leadership position, such as a CFO, many people will look to you for business solutions, not problems. For this reason, a CFO must adopt a solution-orientated attitude and not fall into the habit of being rule or compliance-orientated, as this can limit the effectiveness of their decisions.

4. Teamwork

Many managers and those in a leadership position may think teamwork is a basic skill that everyone should have mastered in adulthood. In reality, however, it can be difficult for many CFOs to be able to adapt their understanding of teamwork in a leadership position. As a CFO, it is your responsibility to build and strengthen your team. For this reason, a CFO should never look to shine individually or expect personal praise, they should focus their time and energy on ensuring their team is as functional and efficient as possible, rewarding them rather than looking for individual praise.

5. Innovation

As a CFO, you have the power to make innovative financial decisions and revolutionise your department. For example, a CFO could introduce prepaid business cards that save their financial team significant time and money. The CFO must choose where to include innovation carefully, to ensure these changes help improve the efficiency of their company.


If you’d like to learn more about how prepaid business card solutions could benefit CFOs, do not hesitate to get in touch with B4B Payments today. We ensure CFOs can keep control over corporate expenses in one, convenient platform, ensuring to improve the efficiency of their department. For more information, contact B4B Payments.

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The Pros (and cons) of being a cashless organisation.

It’s not uncommon for businesses to question whether they should adopt a cashless policy or not. Recent global events, such as the coronavirus pandemic, have led to an increase in credit and debit card payments. Digital wallet services like Apple Pay are also experiencing exponential growth, as increasing numbers of consumers and vendors embrace cashless payments.

However, in some industries – particularly in business-to-business environments such as wholesalers or supply merchants – cash is still commonplace. This article covers the pros and cons of switching to a cashless payments model and is designed to help you to determine whether going cashless is the right solution for you.

The pros of adapting a cashless policy

Save time – and money!

While businesses are expected to pay fees on credit card transactions, it’s worth noting that processing cash sales can take much longer. Ultimately, the time spent processing physical cash transactions could be better spent elsewhere. With cashless transactions, you’ll spend less time making trips to the bank, counting cash at the end of the day, and entering cash transactions into your accounting software.

Increased efficiency

A simple tap or swipe of a prepaid business card, credit card, debit card or mobile phone is much more efficient than giving out petty cash. If your business frequently experiences last minute or on-the-spot purchase needs, you may find that a cash-free solution helps to alleviate backlog in accounting.

Easier accounting and money management

If you’re frequently spending time poring over transactions while trying to determine why your expenses aren’t tallying correctly, it’s time to think about going cashless. With a cashless solution from B4B Payments, each transaction is tracked and receipt uploads are a breeze with the mobile app. This makes accounting more accurate and increases efficiency in the workplace.

Reduced risk

If your business keeps cash on the premises, you’ll always be vulnerable to theft. By switching to a cashless policy, you’ll improve the physical security of your staff and customers. Cashless transactions are also more hygienic – and your team and vendors will value this in a post-pandemic world.

Enhanced expense management

Going cashless isn’t all about finances coming in – it concerns your outgoings, too. Whether you’re purchasing from suppliers or covering the corporate expenses of field agents and reps, your expenses are easily tracked and managed when you go cashless.

Access valuable data

Cashless transactions generate a multitude of valuable consumer information. This data allows you to analyse the purchasing trends and spending habits of your card recipients and employees, which can be used to improve your financial strategy.

Cons of adopting a cashless policy

Increased card fees

One of the biggest bugbears for small-medium enterprises is the dreaded card transaction fee. To combat this, some companies factor card fees into their pricing structure, which could mean having to slightly increase the amount you charge your customers for your products.

*Pro tip- Read the fine print. Many prepaid card programmes offer cheaper rates from the outset, with hidden fees or margins on FX rates for transactions. Ω`

Some people prefer cash

For some organisations depending on who you’re distributing your cards to, cash is still king. In particular, older recipients of funds, are more accustomed to paying with cash and could feel alienated by your decision to adopt a totally cashless policy.

Is going cashless right for your business?

There are a lot of variables to consider before going cashless. Businesses in certain industries might benefit from going completely cashless, while others might still want to hold out before no longer utilising cash payments.

Whether you’re ready to take the plunge or not, having a cashless payment solution can certainly increase efficiency, provide you with better understanding of where your money is going, and streamline your accounting process. If you’d like more information, why not contact us to find out how B4B Payments could transform your fund disbursement today?

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How to cut business costs

No matter how established a business is, regularly looking for ways to cut and control costs and eliminate unnecessary expenditure is good business practice. In uncertain times, and when faced with an uncertain economy, every penny truly does count and even successful businesses should re-evaluate how they can cut costs.

1. Look for ways to be environmentally friendly

While swapping your bulbs for LEDs and installing solar panels may seem like unnecessary business expenses, in the long-term, they can help your business to save a significant amount of money. You can also encourage your employees to make better eco choices, such as switching off their computers rather than leaving them on stand-by and opting for digital documents rather than using paper. Buying reusable mugs and cups for your workplace is much more cost-effective and environmentally friendly than constantly buying single-use supplies. In a post-covid workplace, we recommend ensuring each member of staff has their own supplies to ensure the safety and health of your team.

2. Negotiate supply expenses

It never hurts to try and negotiate a lower price with supply vendors to see if you could get a better deal. If you have been with a vendor for the long-term, you can ask them to reward your loyalty and retain your custom by offering you a lower, more affordable price. If they are unable to do this, shop around for another vendor, you may be surprised at the savings you could make by switching to another supplier or company.

3. Reduce overheads

Do you really need an office? Since lockdown measures were put into place due to the global pandemic, many businesses are re-evaluating having a physical presence at all. It’s clear employees are adapting and thriving in a remote working environment and surveys show that by continuing to give your employees the choice to work from home, you will not only have a safer, happier team, but can significantly reduce your overhead costs by moving into a smaller office space or none at all. If you choose to have a smaller office space with fewer employees working physically in the office, this will also help you to lower your energy bills and keep employee expenses low.

4. Control expenditure

If you’re looking for an easy and efficient way to control employee expenditure, you may wish to consider B4B Payments. Having spent the last 14 years developing a robust prepaid card solutions that allows businesses to view and control their employee expenditure in real-time, ensures your organisation has total control and transparency over their employee expenses.

5. Reduce travel

Encourage all meetings to take place via video call or conference call, rather than allowing employees to travel frequently. This not only saves a company transport costs, but it also reduces the time employees spend and waste travelling from location to location. If it is essential departments or employees meet in person, use to ensure tracking your employees’ transport expenses is easy and you can factor this expense into your monthly or quarterly budget.

To learn more about the prepaid business card solutions that can help businesses of all sizes cut costs, contact B4B Payments today. From payroll to employee expenses and employee incentive management, we can help you manage your finances in one, convenient platform. Get in touch today to learn more about our effective solutions.

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The benefits of a branded prepaid business card

To brand or not to brand?

Wait… Is that even a question? Brand! Brand everything!

Often when somebody goes on a company trip, they’ll travel out with a business credit card in order to cover their expenses. This has been the typical method of corporate expense management and keeping your spending on trips under control. However, the use of the branded prepaid business card is on the rise. Here are a few reasons that these cards are beneficial for both the brand, the business, and its users.

A high level of management control

Using business credit cards can often be a struggle, as too many cards being in circulation can be difficult to track. Using a management control platform such as B4B Payments means that you can keep track of all of your corporate expense cards, generate spending reports, and load cards individually or in bulk. This makes the amount of control you have over your corporate expenses far more secure and is a big step towards accurate real-time tracking of company finances and spending.

Personalisation can boost your brand

The improvement of your brand is always a big benefit to any company, and prepaid business cards are not exempt from this idea. When your employees go to a conference and need to cover for their expenses, they can reach down into a wallet and show off your company’s brand whilst paying for anything they get when away. This is a quick and easy way to get your brand seen by more people, often industry professionals, whilst putting minimal effort into getting this exposure. With a colourful and vibrant company expenses card, your business can stand out from the crowd.

Control your expenditure

Everyone’s heard the nightmare stories. Employees often go on long trips to conferences or retreats and may overspend far beyond what the company initially anticipated. With a credit card, it is much harder to stay within these limits compared to a debit card. Using a prepaid business card, there is no credit involved. Your company’s representatives are limited by the amount that is paid onto the card, and therefore can’t overspend and leave your business in financial trouble. Peace of mind is valuable in business, and that is exactly what this card can offer you.

If you’re interested in a prepaid personalised business card in order to control your corporate expenses and get your brand out there, get in touch with B4B Payments. Our team of experts will help to explain all of the available options to you and find you a bespoke way forward.

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Wirecard Situation: Customer and Cardholder FAQ

Following the FCA’s decision on Friday to freeze all activity on accounts and cards issued by Wirecard Card Solutions Ltd, we have created a list of common questions asked by both B4B Payments and Bread4Scrap customers and cardholders.

What happened?

Who are Wirecard Card Solutions?

What does this mean to me?

Why didn’t B4B Payments warn me about this sooner?

Is it only B4B Payments or Bread4Scrap customers and cardholders that are affected?

So, where is my money?

When will I be able to access my account?

I am expecting a payment. What happens if someone sends money to my B4B Payments & Bread4Scrap card now?

How will you keep me updated?

If my money is safe in a Barclays bank account, why can’t the FCA just release it?

The issues facing Wirecard AG in Germany have been known for a week. Did you not see this coming?

What actions are B4B Payments & Bread4Scrap now taking to resolve the situation?

How do I know my money is safe in the Wirecard Card Solutions Barclays account?

I loaded a float payment to my B4B Payments or Bread4Scrap account on the morning of 26 June. It shows as sent at my bank, but it hasn’t arrived at my admin portal. What happened to it?

My card is showing as ‘cancelled,’ does this mean I will need a new card?


 
What happened?

On 26 June 2020 the Financial Conduct Authority suspended operations of Wirecard Card Solutions Ltd UK, our card-issuing partner.

 
Who are Wirecard Card Solutions?

Wirecard Card Solutions is an e-money institution. B4B Payments and Bread4Scrap use them to provide e-money accounts to our customers, issue debit cards and process customer payments. That means the money in a B4B Payments or Bread4Scrap customer or cardholder’s account is not held by B4B Payments or Bread4Scrap, but with Wirecard Card Solutions. This money is kept in a ring-fenced (safeguarded) Barclays bank account.

 
What does this mean to me?

The FCA action means the money in B4B Payments and Bread4Scrap customer and cardholder accounts is frozen. Your money remains completely safe, but the FCA action means that you cannot access it right now. Read more on the FCA website

 
Why didn’t B4B Payments warn me about this sooner?

The Financial Conduct Authority suspended its permission for Wirecard Card Solutions Limited to operate on the morning of 26 June 2020. We had no prior warning that this was going to happen and that the FCA would freeze cards during their investigation with Wirecard in the UK. As soon as B4B Payments or Bread4Scrap learned that the FCA was suspending operations of Wirecard Card Solutions, we contacted all our customers to let everyone know.

 
Is it only B4B Payments or Bread4Scrap customers and cardholders that are affected?

No. Quite a few UK-based companies and their customers have been affected by the sudden suspension of Wirecard Card Solutions. Other e-money providers have also been affected.

 
So, where is my money?

If you’re a B4B Payments or Bread4Scrap customer or cardholder, your money is held by Wirecard Card Solutions in a ring-fenced Barclays account. The FCA action means that Wirecard Card Solutions’s account is frozen, so you cannot currently access your funds. When the FCA allows the money to be released you will be able to access it.

For the most up to date information, we urge our clients to refer to the FCA website.

 
When will I be able to access my account?

We expect the FCA suspension to be lifted – and so your inability to access your account and card is temporary.  When we have absolute clarity on the timing of card reactivation, we’ll immediately let you know.

For the most up to date information, we urge our clients to refer to the FCA website.

 
I am expecting a payment. What happens if someone sends money to my B4B Payments & Bread4Scrap card now?

Unfortunately, if you are expecting any payments using Bread4Scrap or B4B Payments (ie. your employer) our admin accounts are temporarily blocked from uploading funds or sending payments. For urgent payments, we suggest contacting the sender and ask them if it is possible to send funds to a different account. Please keep in mind we expect this situation to be temporary and resolved soon. It may not be possible for those senders to process payments externally to their B4B Payments or Bread4Scrap platform as their funds are also frozen. 

 For the most up to date information, we urge our clients to refer to the FCA website.

 
How will you keep me updated?

We will be informing our clients via emails, in the app and by posting the latest information here on our website. For our cardholders, we will keep you up to date via Twitter as well as here on the website. When cards are reactivated, we will send an SMS. Please ensure your mobile number is up to date by logging into your account and accessing your personal details. We know how difficult this situation is, and we are trying to keep you as informed as possible. As soon as we know more, we pass the information on to you.

 
If my money is safe in a Barclays bank account, why can’t the FCA just release it?

We believe that the FCA will eventually do this. They are reviewing the situation with Wirecard Card Solutions and need to make sure everything is in order before they can release the funds. At this stage the FCA have not told us how long this will take.

For the most up to date information, we urge our clients to refer to the FCA website.

 
The issues facing Wirecard AG in Germany have been known for a week. Did you not see this coming?

We were aware of the situation with Wirecard AG in Germany; however we were repeatedly reassured by Wirecard Card Solutions Ltd that this would not affect operations in the UK.

 
What actions are B4B Payments & Bread4Scrap now taking to resolve the situation?

Our goal is to give you access to your money as quickly as possible. We are speaking to the FCA for further guidance. With regards to future plans, B4B Payments has been planning an updated long-term solution for when the UK leaves the EU at the end of the year. We can confirm we have accelerated these plans. Our goal is to continue providing a stable platform that will allow our customers uninterrupted use of their cards and funds moving forward (UK and non-UK). At this time, we are unable to give definitive timelines – but will have an update for you in the coming weeks. We assure you that the B4B team are working around the clock to resolve this situation.

 
How do I know my money is safe in the Wirecard Card Solutions Barclays account?

It is a requirement from the FCA that funds are stored in a ring-fenced account, and the FCA supervises regulated entities to make sure they comply with the regulation and store the funds correctly. All funds in the Barclays account belong to B4B Payments and Bread4Scrap customers and cardholders and cannot be used for any other purposes. Although the account was officially attributed to Wirecard Card Solutions, B4B Payments and Bread4Scrap had visibility of the Barclays account prior to the FCA suspension, and we saw no unusual activity.

 
I loaded a float payment to my B4B Payments or Bread4Scrap account on the morning of 26 June. It shows as sent at my bank, but it hasn’t arrived at my admin portal. What happened to it?

If you sent it out before 10am on 26 June it should have been delivered to the destination.

If you sent it after 10am 26 June it will not have gone. Unfortunately, we weren’t aware of that at the time that cards would be frozen. These funds are still in the ring-fenced Barclays account and should eventually be credited back to your B4B Payments or Bread4Scrap account and made available to you.

 
My card is showing as ‘cancelled,’ does this mean I will need a new card?

No. This is only a temporary measure put in place by the FCA to ensure cards are not used during this time. Once the FCA release their suspension of funds held by Wirecard, your card will be reactivated. 

 For the most up to date information, we urge our clients to refer to the FCA website.

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Replacing flawed paper systems for school meals, with easy to use cards

There is huge pressure on schools to find reliable ways to enforce social distancing and infection control measures, and one of the most debated ‘hot spots’ will be around the serving of meals.

Cashless payment is now common in canteens, but in some instances still relies on paper – such as free school meal vouchers – or some handling of coins and notes. Both of which we will address in the article.

Existing systems to pay for food in school canteens – and recently in the wider community – have already caused education managers and headteachers countless headaches.

Recent press headlines show that users of free school meal vouchers have run up against system failures that left them embarrassed – and potentially hungry!

This shows that investment in the latest cashless payment systems is necessary for a number of different but equally important reasons, particularly to iron out issues with free school meals.

The free school meal fiasco

The technology exists to enable the Government to provide help for low-income families within schools, discreetly and reliably. Also, in B4B Payments, the Department of Education, local authorities, and schools have a supplier who can provide secure and hygienic payment cards within days.

Yet, the way meal vouchers have been distributed during the pandemic crisis has largely revolved around printed slips. In many cases, already challenged and stressed school staff have been tasked with printing off free school meal vouchers.

As the national media coverage has highlighted, this has left some parents with paper vouchers that don’t work when they try to redeem them in shops. A cause of massive confusion and upset.

Some schools have even resorted to creating their own systems to help low-income families, necessitating large payouts and deals with local food retailers and supermarket chains.

Is this really necessary, when a system exists to connect, streamline and simplify free school meal provision using prepaid cards from B4B Payments? Cards that can be used in shops, or within school canteens, with the minimum of admin and hassle!

Curious about the tends in cash vs card?

How clean is cash?

The World Health Organisation (WHO) and other authoritative bodies are urging everyone to wash their hands well after handling coins and notes – especially in situations where you are eating and drinking. There has also been a widespread surge in moving towards payments via a smart device, credit or debit card, or prepaid card.

In a school, moving wholesale to prepaid cards limits contact between the children and cashier. It also means less likelihood of infection transmission on alternative payment tools or money. Another reason why the Department of Education and local authorities must take secure, easy-to-clean and convenient prepaid cards seriously.

Perhaps, this is one time when the ‘pester power of parents’ needs to come into play. They can persuade the Government to use the simplest and best technology to make school meal payment systems problem-free, with cards from B4B Payments that can be delivered in days.

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How to maintain customer service in challenging times

Due to the unprecedented situation of COVID-19, many businesses are struggling to maintain their customer service standards while complying with social distancing rules.

B4B Payments, who offer businesses smart, flexible payment solutions, were one step ahead of the cashless trend and recently shared their insights into maintaining customer service whilst co-hosting an online panel with PIF (Prepaid International Forum.)

During the first few weeks of the UK lockdown, demand for customer service surged as the UK public were unsure how nationwide restrictions would affect their day to day lives. Essential businesses who were still able to open, struggled with the demand for digital payments, as the government advised to limit the exchange of cash where possible. B4B Payments have been providing their services to help businesses with outdated payment systems to be able to offer digitised payment options. CEO of B4B Payments, Paul Swinton said, “We have always digitally engaged with our customers, and now with less time spent on commuting we have more capacity to identify opportunities where we can help customers.”

B4B Payments were able to effortlessly transition to working under the government’s new guidelines as they had created a COVID-19 crisis plan when news of the virus first hit UK headlines. The team were forced to put this plan into effect early when Paul learned one of his team had been exposed to the virus.

Early adaptation for remote working ensured his team were ready and prepared to quickly adapt to working from home. For example, each team member had access to well-configured technology to ensure they could work from home safely and productively. Technology the business is currently using includes Slack, VOIP telephony and signal encrypted chat software.

When the government announced working from home was essential, B4B Payments were able to confidently assure their customers they were offering business as usual. On the priorities of the company Paul said “Most importantly, robust steps had been taken to control the potential spread of the virus and to protect our valued staff members and their families. Our second priority that day was to underpin services offered to clients.”

In fact, the B4B Payments team were so efficient at transitioning to remote working, Paul has raised the question of how easily and willingly workers will transition back to the office environment. He explains, “We were concerned that some people would find it uncomfortable, but we are seeing quite the opposite…We need to be very aware of this because the crisis could trigger a shift towards more home working. Businesses will need to think carefully about this and develop interim plans.” Employees may be reluctant to return to a workplace due to fears of public transport and because they have enjoyed the flexibility that comes with remote working.

As a company who offers financial solutions to businesses, B4B Payments are no strangers to dealing with sensitive information about payouts and anxious clients. During this time, the demand for charities to deliver prepaid card solutions to those in need has skyrocketed and B4B Payments are working tirelessly to ensure these payments can be made. Paul ensured every member of the B4B customer service team had refresher customer service courses to ensure they could help vulnerable, scared customers during this unprecedented time. He explained why these refresh courses were essential to his business as “With these rapid digitisation projects come many thousands of potentially very vulnerable cardholders who may need technical and other help from our customer support team.”

Of course, with COVID-19, businesses who were well prepared for the pandemic are not just scrambling to provide adequate customer service, they are quickly adapting to the new measures to enhance how they operate as a business. B4B payments, for example, are finding faster and efficient ways to adopt a pragmatic response to emerging client queries. As businesses are more readily available to discuss their specific needs during a pandemic, B4B Payments have found they are able to quickly spot ways they may be able to help a business.

So, how have B4B Payments managed to maintain their customer service standards during the pandemic? The answer lies in the early adoption of fintech. Paul explains “We all agree that it hasn’t been a massive change for us, but that’s because we sit in this highly innovative fintech space.” The pandemic may encourage more businesses to adopt cashless solutions in the future so they can stay ahead of the curve, rather than waiting for them to be enforced.

If you’re interested in hearing more about how B4B Payments have navigated customer service during the pandemic, watch the full digital panel here.
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Simple alternative to cash for tour guides

Cash causes so many problems for tour guides out in the field from security issues to admin issues and fraud. It can become extremely complex and troublesome when tour guides are a part of your business model and are out in the field or are working remotely.

Tours and holiday activities were the 2nd fastest growing sector in the world in 2018. The sector has grown from strength to strength as people look to for more authentic and local experiences. The market is now estimated to be around a staggering $150 billion.

Due to this increased demand and opportunity, travel and tour guide companies are now looking at alternatives to streamline their processes, reduce stress and improve business administration, as cash is often a headache to administer and audit. It is also open to fraud and expensive to manage. Cash is a complication that shouldn’t exist in the travel and tour guide sector.

Businesses in the sector are starting to turn to prepaid cards to eliminate cash-based problems and to provide an expenses solution that makes operations smoother.

Solving payroll and funding issues

Prepaid cards allow travel companies to send funds electronically to tour guides or guests, instantly anywhere in the world 24/7. It can also remove any delays caused be traditional banking processes or cash distribution. Eliminating any potential payroll and funding issues can increase employee motivation and as a result, have a positive effect on your business’s customer service.

Increase security and protect your employees

Cash is outdated. Instantly eliminate the burden and risk of carrying or storing cash when travelling is involved, for both tour guides and guests, by using a secure prepaid card. Moreover, prepaid cards are reloadable 24/7 so your employees will only need one card at a time saving your business time and money.

No need for any pesky administration

Prepaid cards can replace petty cash completely. Once combined with expense systems and powerful receipt management tools, companies can manage all of their expenses, payroll, funding and much more on one system. Furthermore, you are able to monitor spending in real-time and integrate with any existing accounting or ERP systems in your business, giving you full peace of mind.

Other benefits

Prepaid cards have obvious cost-based benefits however removing the hassle and headaches associated with inefficient cash-based systems can lead to happier employees. Moreover, this can free up time for your employees and tour guides so that they can focus on their job to create entertaining experiences for tourists and not on their finances. This can lead to higher retention rate with higher performing tour guides who are often difficult to source.

How to choose a prepaid card solution for your travel company

The prepaid solution from B4B Payments offers a Mastercard prepaid card that can be used in the millions of locations globally that accepts payment by Mastercard. Funds can be spent in-store or online, meeting the needs of tour guides, travel companies and other travel stakeholders.

The B4B solution is currently enabling travel companies, tour guides and tourism establishments to replace inefficient cash-based systems for the past 5 years. It was named winner of the Best Prepaid Card Programme category of the Card & Payments Awards 2019. To find out more about how we work with travel companies and tour guides, and how we can help you, call us on 020 3137 3420 or email us at sales@b4bpayments.com.

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Eliminate payroll pain for Christmas events

According to the 2018 Pulse Report, the UK events industry is estimated to be worth £42.3bn and much of that figure is likely to be spent on corporate Christmas events. Not only is organising festive events a significant expense but it also can be an organisational headache, especially payroll for temporary or seasonal staff.

With December rapidly approaching, now is the ideal time to look for new ways to make your Christmas party planning simpler and more efficient for this and coming years.

Eliminate the inefficiencies of cash

The security risks, painful administration and accounting complexities have made paying people in cash unviable with company credit cards being even more frustrating. Prepaid cards are the first choice for companies looking for new and more versatile ways to manage corporate expenses, payroll and incentives.

The ideal tool for event organisers

Give your event organiser a prepaid card loaded with an amount you decide and keep track of their spending in real-time. It also means that you are not putting your team in the position where they have to fund expenses out of their own pocket and go through a time-consuming and frustrating manual expense claim process.

Also, you might need to enable multiple people or departments to pay for different aspects of the event such as travel, venue management or sourcing gifts. In that case, it would be impractical and undesirable to issue more company credit cards for a short-term project. With prepaid, you can instantly issue additional cards with different amounts loaded to other team members. This allows you to make completely bespoke employee incentive programmes instantly.

If you are arranging an event abroad where card payments aren’t always accepted, your team can always withdraw cash using their prepaid card from a local ATM, usually incurring lower fees than if withdrawals were made using credit cards.

Stay on budget

While everyone wants their event to be a great experience, nobody wants to find they have gone over budget to achieve it. One of the many drawbacks of paying with cash is that you’ll find it almost impossible to tell if you are nearing or exceeding your staffing budget. Using prepaid cards from B4B Payments would enable you to see exactly how much is being spent in real-time.

Pay a few or a few thousand staff

Whether you’re hosting a Christmas party, impressing your clients or putting on an awards evening, prepaid cards can help you manage events where you are employing a few to a few thousand temporary staff. As you can re-load cards remotely, you can pay staff via a prepaid card once or multiple times using the same card.

Another important advantage is that prepaid cards don’t have to be physical plastic. Today, you could issue virtual prepaid cards that can be issued instantly to anyone in the world. It’s the ideal solution for when you need to set up a method of payment fast for workers in other geographies.

Maximum spending appeal

Some prepaid cards, such as the ones you can issue to staff via B4B Payments, can be used to pay for goods and services anywhere that accepts payment by Mastercard online or offline. That means that you are well positioned to attract temporary staff for your event, especially those who don’t have bank accounts. Your seasonal workers will enjoy the benefit of being able to spend their pay immediately, virtually anywhere.

Expenses for staff

In addition to payroll for seasonal staff, you might also need to cover their expenses incurred such as travelling to your venue or meal allowance. The process of claiming staff expenses is quick and simple for both you and your employees with the ability to upload receipts electronically. No more inefficient manual processes or paper receipts to process and file.

Celebrate your brand

An event is a great opportunity to show off your brand. If you are looking for some extra visual impact, your cards can be branded with your logo as part of a production run from just a few hundred units.

An event is a great opportunity to show off your brand. If you are looking for some extra visual impact, your cards can be branded with your logo as part of a production run from just a few hundred units.

Prepaid cards – not just for Christmas

Mastercard published details of how more companies than ever are finding they can benefit from financial services from suppliers other than traditional banks. The Mastercard Prepaid Consumer Experience Index stated that prepaid use is predicted to grow by 133% in the next five years globally. The figures state that using prepaid cards to manage expenses is likely to be the number one reason why more companies will begin using prepaid cards.

B4B Payments is a multi-award-winning provider of Mastercard prepaid cards to companies, government departments and other types of organisation for uses such as expense management, gifting and payroll. To hear more about B4B Payment product updates, the latest Fintech news or how clients use our products get in touch with us on Linkedin, Twitter or via our website.