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11 Enabling payments through innovation In partnership with:

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1 11 Enabling payments through innovation In partnership with:

2 APS Overview Corporate Milestones APS founded (Jan 04) Launched first general purpose prepaid MasterCard in the UK (Aug 05) Established AFL and secured ELMI to directly issue prepaid cards (July 07). Updated to EMD2 (May 2011) c£1 Billion in card turnover & over 600,000 cards (2012) Now in contract with 15 Councils, including Bury, Nottinghamshire, Trafford, Lancashire, Plymouth, Merton, Islington and Lewisham. 2

3 APS Overview Product Milestones – Prepaid Payments innovator Achieved 10+ industry accolades and stand as the most awarded prepaid card in Europe 3 1 st general purpose prepaid card in the UK 1 st instant issue MasterCard prepaid card in the UK 1 st CHIP & PIN prepaid card 1 st to create reload network via the UK Post Office® 1 st and only gold prepaid card in the UK 1 st to offer Creditbuilder 1 st UK prepaid card to offer Purchase Protection 1 st prepaid issuer to gain MasterCard membership 1 st to offer an Integrated Currency product 1 st to deliver an online Bill Payment solutions 1 st true Banking prepaid product Unique sort code and bank account number Faster payments Direct Debit

4 4 Prepaid Card Solution Developed for Councils Local Authority Prepaid Card Solution Direct Payments & Personal Budgets Cash & Cheque Replacement / Social Fund Appointee-ships / Court of Protection Expenses Solving numerous Cash, Benefit Payments & Expense Management Challenges...Cost Effectively

5 5 How Prepaid Cards Work Why Cashplus prepaid cards are a powerful solution Direct Payment Programmes Better Engagement Simplification of process for Service Users & Council employees Increases speed of service provision – no need to wait for the service user to set up a new bank account Encourages financial responsibility More Control Access to all Cardholder spend/usage for monitoring & Auditing via electronic statements / data repository at ANYTIME! Limits the administrative burden around monitoring and audits Finance – check that contributions are paid & see balances real time – reducing fraud Care Teams – real time checks to confirm that the funds are being used in line with the original assessments. Enables claw back of funds – its Council money Limit type of merchant spend (e.g. Cash withdrawal) by blocking MCCs

6 6 How Prepaid Cards Work Why Cashplus prepaid cards are a powerful solution More utility than standard prepaid cards Sort Code & unique Account Number making it easier to receive & make payments Direct Debits Customer contributions available directly on to the card account Faster Payments Reporting Online real-time account / statements for individual accounts CSV daily / weekly reports – download from Secure Server (SFTP site) Standard Alerts & Top line reports (including payments, credits, refunds, renewals) Payment Options for Cardholders Payment for goods or services by using the card directly Set up Direct Debit with 3 rd party company that manage their payroll requirements Set up Direct Debit for required Insurance Policies Set up regular payments either online or over the telephone to pay carers Make one off &/or variable payments online or over the telephone

7 7 Implementation Set up and Launch of Council Programmes IT Requirements Minimal – Application System = software based Monitoring & Auditing real time = web based via standard site Access to APS Secure Reporting Server Processes Set up - DPA Waiver added to standard Service User, Council Contract Authorised Council employees – Council Helpline Fund Recovery Account limit increase Prepaid Card Account set up 2 to 3 minutes – card with Service User within 5 working days Online Account registration – 2 minutes Transfer of funds on to the card account Standard BACs / Faster Payment process utilised for standard bank accounts Internal Processes Existing Service Users - internal challenges around transfer of accounts New Service Users – very straightforward process

8 8 Prepaid Card Solution: Fee schedule to deliver a complete end to end payment solution Programme Set up Fee - £1,000 Annual Fee - £29.99 per account Card Account volume discounts apply on card orders greater than 500 (£25 per acct) & 1,000 (£20 per card acct) Additional Card (Companion Card) Issue fee / Card Replacement- £4.95 ATM cash withdrawal fee - £0.99 – if applicable Card Transactions (payments using the card) - FREE Direct Debit Transactions - £0.35 per transaction Online Bill Payment Transactions - £0.35 per transaction Bill Payment Transactions via customer services - £1.00 per transaction Card Account loading – FREE Reporting (real-time by account & all account & transaction data) - FREE All card fees are either invoiced to the council or posted to the card

9 9 How Prepaid Cards Work Why Cashplus prepaid cards are a powerful solution Social Fund, Emergency Funds, Cash & Cheque Replacement Instant Issue Product Instant Issue Packs purchased up front by Council & held securely 2 x Products available – with ATM available or ATM withdrawals blocked Simple set up and loading process for Council 2 to 3 minutes to register / set up the Card Either load immediately or at a later stage Cardholder calls the customer services IVR to retrieve PIN Cardholder can then use the card at POS & / or ATM

10 10 Prepaid Card Solution: Fee schedule to deliver a complete end to end payment solution Programme Set up Fee - £1,000 Instant Issue Pack Fee - £4.95 per account (1 to 499) Card Account volume discounts apply on card orders greater than 500 (£4.00 per pack), 1,000 (£3.50 per pack) & 5,000+ (£3.00 per pack) ATM cash withdrawal fee - £0.99 – if applicable Card Transactions - £0.99 per transaction Direct Debit Transactions - £0.35 per transaction Online Bill Payment Transactions - £0.35 per transaction Card Account loading – FREE

11 11 APS vs. Competitors APS has numerous points of differentiation in the industry, especially against a core set of issuers and programme managers focused in the Electronic banking marketplace Product differentiators, especially Direct Debit and credit offerings are giving APS its Cashplus branded cards a clear position as best in market. Company differentiators, most notably being a directly regulated and licensed MasterCard issuer with Agency Banking, positions APS well not only against the competitors listed below, but more opportunistically against traditional high street banks who continue to disenfranchise both its consumer and business customers. Only company to currently compete effectively and successfully in all three markets Online Acquisition Bill Payment Purchase Protection Multi -Currency Direct Debit Faster Payments Overdraft Lending Post Office Branch Access Proprietary Load Network Direct MasterCard Member Agency Banking Enabled * European Licenced * Infrastructure to provide sort code and bank account number to each issued card, enabling true debit card and bank capability Consumer Focused Corporate/Public Sector Focused

12 Government Disbursement Partnered to migrate about £6B in government cash disbursement to card based solutions for local authorities due to big bank solution failing them Four Councils have signed with APS, with many more in the pipeline Direct Payments Disbursement - London Borough of Merton The London Borough of Merton have set up prepaid cards to make payments to clients in Adult Social Care with either Personal Budgets or Direct Payments. By paying the benefits directly on to the card account, the Merton has taken full control of the accounts, enabling real-time monitoring and auditing of expenditure Personal Budget & SDS Disbursement - Bury Council Bury Council have set up over 750 prepaid card accounts to make payments to clients & Carers in Adult Social Care with Direct Payments. The cards are a flexible way of ensuring that carers and customers of adult care services can access funding allocated to them in a convenient manner. The APS Prepaid card offer more choice of where, and when, a customer can spend this money. Direct Payment Disbursement - Plymouth City Council Plymouth City Council provide Direct Payment customers with a Prepaid Card, in the first 9 months, Plymouth has set up over 500 Service User accounts. Case Studies Current Public Sector partners 12


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