| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2019 - 31 Dec 2019 | 02 Feb 2020 | 18 | 89% | 10% | 1% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 17 | 82% | 10% | 8% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 17 | 95% | 5% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We aim to pay all invoices within 30 days. Some suppliers have shorter payment terms due to the nature of our business.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
45
We are a small company. Disputes are escalated to the CEO or Commercial Director for resolving
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Prepaid Financial Services Limited, registered in London and incorporated in 2007, provides payment technology for businesses, organisations and local authorities. It issues physical and virtual payment cards and digital accounts, offering in-house processing and connections to Faster Payments for pay-ins and pay-outs. Its services support uses such as local authority disbursements, business expenses, payroll, earned wage access, insurance payouts and incentive or reward programmes. The company holds an EMI licence, is regulated by the Financial Conduct Authority, and is a Principal Member and certified processor of Mastercard. According to its own site, it processed £2.2 billion in transactions in 2023 across more than 400,000 service users and 5.6 million cards issued to date.
Generated from the company's website and Companies House records. Sources: prepaidfinancialservices.com