Latest news with #allpay
Finextra
3 days ago
- Business
- Finextra
AllPay launches Dosh prepaid card in the UK
Dosh, a prepaid Mastercard® account backed by allpay Limited and its 30-year public sector heritage, removes common barriers to entry, such as rigid ID and address checks, offering a more inclusive route to financial services for people often left behind by the mainstream, from those new to the UK to individuals in temporary housing. 6 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. In a market entrenched with surprise fees, gimmicks, bureaucracy, and barriers, DOSH arrives as the fintech challenger the unbanked have been waiting for. Backed by allpay's 30-year legacy of powering public sector payments, DOSH is a UK-focused prepaid Mastercard® account that upends banking norms with flexible ID options through its 'Vouch For' onboarding, alongside transparent pricing, financial literacy tools, and real UK-based human support. 'Traditional banks have built walls for the unbanked, DOSH's mission is to build bridges. We've created a fairer way to access financial services, designed for real life, not red tape. Whether you're paid in cash, don't have a standard ID, or just want a clearer way to manage your money, DOSH has been built to give you control, clarity, and confidence as your first step towards financial stability, all backed by allpay's three decades of trusted public service,' says Michelle Pacey, Managing Director of allpay. The Problem? In one of the world's leading economies, nearly one million people still live without access to a bank account. Across the EU, 13 million more are unbanked - relying on cash, costly credit, or informal workarounds just to get by. Without access to basic financial services, everyday tasks like paying rent, receiving wages, or building credit become significantly harder, deepening financial vulnerability. The unbanked in the UK are often among the most vulnerable, these include people experiencing homelessness, recent migrants, those in low-paid or unstable work, and individuals who lack the forms of ID or proof of address that traditional banks demand. For these individuals, being unbanked isn't just an inconvenience; it's a barrier to everyday life. It means struggling to receive wages or benefits, pay bills securely, or participate in the digital economy. This gap in access deepens inequality and leaves many stuck in cycles of poverty, excluded from the tools that help others build resilience and move forward. The DOSH Solution DOSH exists to challenge this norm, created not just as an alternative to mainstream banking but as a response to the systemic issues that keep people locked out of it. Designed to break down the real-world barriers that keep people unbanked. With flexible ID options, including the ability to be vouched for, and a fast, paperless sign-up process, it removes the red tape that often blocks access. Clear, jargon-free fees and instant transaction alerts build trust and financial confidence, while nationwide Post Office access will ensure cash-in and cash-out remain easy. Most importantly, DOSH puts its customers in control, from budgeting tools to real human support, it is a genuine first step towards financial inclusion and independence. Why It Matters Without access to a basic bank account, millions end up paying late-payment fees, falling into arrears, or resorting to high-cost credit. DOSH helps you build reliable payment habits and a strong money history, turning day-to-day stress into confident, future-focused planning. 'DOSH isn't just a product, it's a mission,' says Tony Killeen, allpay's Founder and Entrepreneur. 'It's the result of everything we've learned in 30 years of serving the public sector. We're building a platform that gives the most vulnerable dignity, access, and a path toward financial stability.' Availability & Next Steps DOSH launches across the UK later this year, with early-access and beta registration open now
Finextra
09-05-2025
- Business
- Finextra
allpay to help social housing providers tackle rising rent arrears
New findings from the National Housing Federation (NHF) reveal that rent arrears among tenants on Universal Credit remain significantly higher than those paying by other means - a challenge allpay Limited is helping social housing providers tackle head-on. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. According to the NHF's quarterly survey, over half (51%) of general needs residents now claim Universal Credit, a figure that continues to grow each quarter. Alarmingly, nearly half (48%) of those claimants were in rent arrears at the end of December 2024, compared to just 28% of tenants using other payment methods. Despite a modest reduction in overall arrears, Universal Credit recipients still owed an average of £641 in back rent, a substantial burden for both tenants and housing providers. A trusted partner in payment solutions With over three decades of experience in delivering payment services to the public and social housing sectors, allpay's mission has never been more relevant. allpay's secure, multi-channel payment solutions, including Direct Debits, online, in person and app-based payments, empower tenants to manage their rent more flexibly and consistently, helping to reduce arrears and ease pressure on landlords. 'As Universal Credit continues to reshape how tenants receive and manage their finances, we're committed to working closely with organisations to provide user-friendly, reliable payment options,' said Michelle Pacey, Managing Director at allpay Limited. 'By enabling choice and control, we help tenants stay on top of rent payments, reducing the risk of arrears and eviction.' Improving outcomes for tenants and landlords The NHF survey highlights that while the total arrears on Universal Credit accounts dropped slightly to £58 million in December 2024, this still far exceeds the £23 million owed by residents paying by other means. The consistent disparity in average arrears (£641 versus £468) underlines the importance of solutions that support financial stability. allpay continues to innovate in this space, offering tools that integrate seamlessly into housing providers' systems, while prioritising accessibility for all tenants - whether online, over the phone, in person, or via our app. Looking ahead As economic pressures continue and more residents transition to Universal Credit, the ability to offer adaptable, consistent rent payment methods will be essential. allpay remains at the forefront, supporting landlords in reducing arrears and improving tenant engagement through smarter payment technology.
