Offering Canadian businesses secure and
efficient payments solutions
TORONTO, Feb. 25, 2015 /CNW/ - Home Trust, a wholly owned
subsidiary of Home Capital Group Inc. (TSX: HCG), today announced
that it will offer corporate and government payments solutions
through an issuing relationship with Wave Crest Group Limited, a
multi-currency digital payments provider.
With this new agreement, Home Trust will become the official
issuer of Wave Crest's MyChoice and MyFare prepaid programs in
Canada, which provide corporate
payments solutions to businesses and governments.
The MyChoice card allows businesses to streamline commission,
business, incentive, reimbursement and travel payments and control
expenditures with enhanced convenience, flexibility, and security.
Wave Crest's MyFare card caters to transportation fleet owners who
want a more secure and efficient way to pay their drivers.
"We are pleased to announce this relationship and to be able to
provide alternative payments solutions to Canadian business and
government entities," said Martin
Reid, President, Home Trust. "Working with Wave Crest
solidifies our commitment to Canadian enterprises of all sizes by
giving them access to a trusted prepaid payments option."
Benefits of a prepaid program for businesses and government
agencies include:
- Reduced payment costs: with fewer paper and postage expenses,
and eliminates the cost of reissuing lost and stolen cheques
- Improved end-user experience and global capabilities: thanks to
more timely payments regardless of the cardholder's banking
relationship, with funds available right away and in multiple
currencies, and access to cash at more than 1 million ATMs
- Web-based administration: easy to use website allows businesses
to make funds available to payees within minutes of payment
confirmation
- Enhanced reporting and better compliance: businesses can track
and manage expenses through a convenient online console
"We are excited to be teaming up with Home Trust to bring our
corporate and government payments solutions to Canada," said Miles
Paschini, Wave Crest group president. "We know how important
it is for enterprises to cater to their employees, vendors and
suppliers and with the rapid changes in banking among millennials,
we anticipate that more and more individuals will look for
alternative solutions, including prepaid cards."
About Home Capital and Home Trust
Home Capital Group Inc. is a public company, traded on the
Toronto Stock Exchange (HCG), operating through its principal
subsidiary, Home Trust Company. Home Trust is a federally regulated
trust company offering residential and non-residential mortgage
lending, securitization of insured residential first mortgage
products, consumer lending and credit card services. In addition,
Home Trust offers deposits via brokers and financial planners, and
through its direct to consumer deposit brand, Oaken Financial.
Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia,
Quebec and Manitoba. For more information, please visit
www.hometrust.ca
About Wave Crest
Wave Crest provides award-winning digital payment solutions to
corporations and governments worldwide. Programs include
business-to-business payouts, employee, student and taxpayer
disbursements, mobile wallets, prepaid cards, lottery payments,
pre-defined and custom offerings. Wave Crest Holdings Limited in
Europe is a regulated e-money
issuer and a principal member of MasterCard and Visa EU. Wave Crest
Payment Services of the Americas, Inc. is a FinCEN-registered
prepaid access provider, and an issuer of Discover Network prepaid
cards. Visit us at www.WaveCrest.gi.
SOURCE Home Capital Group Inc.