Ray Brash, CEO of PPS spoke to Payment Expert about the prepaid payment sector and why the firm’s collaboration with Tide has positioned it well for growth.

Payment Expert: Can you tell us more about the role you believe PPS will play when it comes to increasing payment efficiency?

Ray Brash: Payments processing can be complicated because there are a number of different factors to consider at any one time. Whether it’s security, network connectivity, technology or regulation, all must be balanced with what consumers actually want. PPS provides its clients a single engagement point, enabling them to focus on user experience while we deliver the best service for all other aspects.  

To help us achieve this, we developed our own bespoke processing architecture which is PCI level one compliant and are a fully regulated entity both in the UK and in the EU. As well as this, we are connected to the major card banking networks, and are members of card and banking schemes in both the UK and the EU.

PE: How can PPS continue to innovate and stay ahead in the prepaid payments sector?

RB: The concept of prepaid originally started as a new way of delivering financial services that is predominantly online and delivered in real-time. Its architecture is typically very open, and available to specific use cases. At PPS, we built on these fundamental principles to ensure that we can take payments to the next level and enhance the user experience.

For example, PPS created  the ability to instantly deliver a virtual MasterCard to a mobile phone which can then be provisioned immediately into Apple or Google pay. This has allowed end users to transact straight away without any need to wait for a physical plastic card.

PE: What makes PPS such a fruitful partner for firms within the payment sector?

RB: Fundamentally PPS has a very successful track record of delivering programmes that are innovative but also deliver scale. Many players can do one or the other, but few do both, and this is therefore a true strength of PPS. Furthermore at PPS  we pride ourselves on the quality of our service and ongoing product development once clients are launched.

‍PE: How positive is the Tide collaboration and in what ways can we see this evolve?

RB: Our journey with Tide has been particularly important for us because it reflects our ability to develop strong partnerships and grow with our clients. We first started working with Tide when the company had just one employee, and since then we have grown their services in line with its evolving product offering.

This demonstrates PPS’ unique ability to provide a wide range of services for customers who need to get into the market quickly and, as they mature, work with them to develop their payment services according to their strategic plans or customer proposition.

PE: PPS and its partners picked up a plethora of awards at the Card and Payments Awards, how much of an affirmation are these to the positive work you’ve done?

RB: The Card and Payment Awards are one of the industry’s biggest events, with some incredible companies and achievements being recognised on the night. To have come away with three trophies, including two wins, is an honour.

It’s testament to the role PPS has played in helping continually drive innovation within the industry, as well as the achievements of our partners, Tide and Countingup, who we stood up on stage with.