Paystream – PaysU Card

Overview

Paystream operate a tailored accountancy service for contractors across the UK. They wanted to streamline the way they rewarded client referrals which are received from the branch staff within recruitment agencies and approached Inconnection for some ideas.

Their existing voucher scheme was difficult to manage, heavy on administration time and didn’t stand out as the vouchers were quite restrictive as they could only be used with certain companies. They wanted something to replace this scheme, whilst still offering the same benefits as the voucher – flexibility, security and motivation.

The Solution

Inconnection’s solution was their newest product, the PaysU prepaid MasterCard ®. This unique product allows Paystream to load cash onto the card for instant use in over 28.5 million outlets Worldwide, including online. Due to the chip and PIN technology it is a safe and effective way to reward. Unlike other prepaid cards currently on the market, PaysU isn’t a closed loop scheme; it allows users the flexibility of spending their reward absolutely anywhere.

Inconnection fully administrate the scheme for Paystream, with a bespoke web platform built in-house to gather the information needed to issue a card. Once the users receive their card they can access an online account management platform, dedicated to PaysU customers. From here they can activate their card, request a new PIN and view their balance.

The Results

Paystream are now fully loaded! They are reaping the benefits of instantly rewarding the branch staff within recruitment agencies and have seen referrals increase as a result. As part of the PayStream strategy to increase referrals PaysU has supported a 100% growth.

The Feedback

The PaysU card has become an important sales tool for our Customer Relationship Managers. The flexibility and freedom of spending the reward virtually anywhere has been one of the main reasons as to why the PaysU card has been so well received by the recruitment agencies.

MasterCard is a registered trademark of MasterCard International Incorporated. The PaysU Card is issued by Newcastle Building Society ("NBS") pursuant to licence by MasterCard International. NBS is authorised and regulated by the Financial Services Authority as an issuer of e-money (registration no. 156058). NBS subscribes to the Banking Code, copies of the Code are available upon request.