UPayCard is a brand belonging to Moorwand Limited, which has received contracts from three UK-based companies to provide prepaid payment services and products to customers from different parts of the world. The company complies with the UK's Data Protection Act of 1998, which requires all organizations that process personal data to register their details with the Information Commissioner's Office (ICO) unless specially exempted from doing so. UPayCard has also been accredited by the PCI-DSS, a set of strict security requirements for the payment industry. To get accredited, a company has to undergo an exhaustive scrutiny of its information security policies, IT environment, procedures, and hosting environment.
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Where to Use UPayCard
From August 1, 2017, PSI-Pay Limited issues UPayCard MasterCard cards under a license granted by MasterCard International Incorporated.
Consumers can obtain physical as well as virtual cards. They can use the latter to make secure payments online instantly, safely, and securely. The virtual card is meant exclusively for payment for goods and services online. It is accepted wherever MasterCard is accepted. Consumers can use the physical UPayCard at physical as well as online stores that accept MasterCard. They can also use it to withdraw money at ATMs worldwide bearing the logo of MasterCard.
UPayCard also has another service-the eWallet, which allows account holders to move funds on their UPayCard to secure locations. Since account holders cannot use the funds stored in their UPayCard eWallet through their virtual or physical cards, these funds remain safe even if account holders lose their cards or have it stolen. To use their funds, account holders must first transfer them to their cards.
Advantages of UPayCard
The following are the advantages of using UPayCard:
- Instant: Fund transfer between two UPayCard accounts is easy, safe, and instant.
- Affordable: UPayCard charges affordable fees and also helps customers save money on their transactions.
- International: Holders of UPayCard accounts can send and receive money from other account holders residing in different parts of the world.
- Safe and Secure: UPayCard uses a variety of operational, technical, and fraud prevention measures to keep account holders' funds safe and secure.
- Support for Multiple Currencies: Consumers can pay and receive funds in different currencies.
- Make Multiple Payments: UPayCard comes with a multiple payment feature that enables account holders to transfer funds to multiple accounts easily.