Co Meath-based Prepaid Financial Services has recorded a significant 107.28% spike in usage of the smart payment solutions since the outbreak of Covid-19.
Prepaid Financial Services provides e-wallets and digital banking software among other services.
It said it has added a premium business current account product to its prepaid offering which is also available through Fitbit Pay, Garmin Pay and Google Pay.
PFS said that during the Covid-19 restrictions, off-the-shelf prepaid business accounts have become popular with start-ups and SMEs who want to navigate the complexities of the coronavirus-era with safe and transparent cash-free efficiencies.
The prepaid element has become attractive for businesses focused on sticking to budgets via limits that can be set on the accounts, the company added.
Amanda Harrison, Head of Business Development at PFS, said that Covid-19 has proven that multi-channel, digital solutions are essential to move money faster and safer around the world.
"With our framework, technology, and partnerships in place, PFS has also been able to provide rapid response solutions to our customers to reach the vulnerable via emergency fund disbursement in these challenging times," Ms Harrison added.
