Tuxedo Money Solutions

What Tuxedo Money Solutions does

Tuxedo Money Solutions Ltd is a UK-based e-money and prepaid card solutions provider, founded in 2006 and headquartered in Chester, England. The company operates a platform-plus-products business centred on its proprietary *e*ccount® secure online wallet, which lets consumers and corporate clients allocate and move funds, issue and block cards, run bulk uploads for payroll or incentives and manage multiple cards and currencies from a single account. Card programs are issued through three regulated banking partners (IDT Financial Services Limited, Newcastle Building Society and Conister Bank) under Visa and MasterCard licences, giving Tuxedo authorised e-money reach across 32 European countries.

The product set spans two direct-to-consumer core products (a Sterling/Euro/USD Travel Currency Card and a General Spend MasterCard), a Corporate Solutions suite covering payroll, expense management, incentive/reward cards, debt management and rebate payouts, and a white-label / licensing layer through which Tuxedo builds branded prepaid programs for major UK partners including The AA, Tesco, Phones 4U, Sainsbury's, STA Travel, Endsleigh Insurance, the Camping and Caravanning Club, SLC Group and EMR. Distribution is multi-channel: white-label co-brand deals, direct online sales through tuxedomoneysolutions.com, an agent network, retail placement (e.g. 500+ Phones 4U stores) and platform licensing (for example, the exclusive NovoPay deal taking *e*ccount® into Middle East payroll and expenses).

Monetisation combines one-time card issuance fees (£19.95 for the travel card with £10 cashback, £4.99 per additional card), transaction and loading fees (e.g. £1.50 ATM, 2.95% UK purchase, PayPoint 3%, Post Office 99p, credit-card load 4%), corporate programme fees on payroll and expense programs, and recurring platform licensing revenue from financial institution partners. The company was recognised as 'Leading Prepaid Organisation in Europe 2010' at the European Prepaid Awards and 'Best Pre-Paid Card Provider' at the 2011 Consumer Moneyfacts Awards.

Name

Tuxedo Money Solutions

Legal name

Tuxedo Money Solutions Ltd

Website

https://tuxedomoneysolutions.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

Tuxedo Money Solutions is a UK-based e-money and prepaid card provider, operating the proprietary *e*ccount® platform to issue white-label travel, general spend, payroll and corporate prepaid cards for major brands, consumers and businesses across 32 European countries.

Ownership category

akta.pro rank

Product category

Prepaid Payment Platform

NAICS

Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Travel Money Cards & Multi-Currency Prepaid (FSAMANAI)

akta.pro secondary industries

Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB), Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE), Virtual Card Issuance & Tokenized Corporate Cards (THACAJAA), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Prepaid card solutions
• E-money platform
• White-label card issuing
• Corporate prepaid cards
• Travel currency cards

Headquarters

HQ city

Chester

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Card Issuance Fees: Fees charged when customers purchase prepaid cards. Travel cards priced at £19.95 with £10 cashback; additional cards at £4.99
2. Transaction and Loading Fees: Fees on card usage including ATM withdrawals (£1.50), UK purchases (2.95%), and various loading mechanisms (PayPoint 3%, Post Office 99p, credit card 4%)
3. Platform Licensing: Licensing *e*ccount® platform to financial institutions and partners. NovoPay uses Tuxedo platform under exclusive license for Middle East markets
4. Corporate Solutions Fees: Fees from corporate prepaid solutions including payroll cards, expense management, incentive/reward programs, and rebate/payout cards

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Tuxedo Money Solutions develops and operates the proprietary *e*ccount® e-money platform, providing prepaid MasterCard and VISA card programs in partnership with three card-issuing institutions. The company delivers direct-to-consumer General Spend and Travel Currency cards, a suite of Corporate Solutions (payroll, expenses, incentives, rebates), and white-label branded prepaid card programs for major UK brands. The platform enables multi-card, multi-currency management, instant fund allocation, bulk uploads and remote card blocking, with operations spanning 32 European countries.

Product overview

Tuxedo Money Solutions is a UK-based e-money solutions provider offering a platform-plus-products model centered on the proprietary *e*ccount platform. The *e*ccount platform serves as the core infrastructure enabling fund allocation, instant card management, and multi-currency support, upon which all products and white-label solutions are built. The product portfolio comprises two core branded products (General Spend Card and Travel Currency Card in Sterling/Euro/USD), a comprehensive Corporate Solutions suite (payroll, expenses, debt management, rebates/payouts, incentives), and Licensing services for financial institutions. Tuxedo also delivers numerous white-label branded cards for partners including AA (Spend and Earn, Travel Currency Cards), STA Travel, Sainsbury's, Phones 4U (Escape, Neon), Endsleigh, Tesco, SLC Group, and EMR, with additional mobile contactless payments capability developed via Proxama partnership.

Differentiator

Problem solved

Functional benefit

Brands

• *e*ccount®: Core platform for all Tuxedo products and services, providing a secure online master account for managing prepaid cards

Products and services

• *e*ccount® Platform Proprietary secure online master account platform that enables allocation and movement of funds, instant card blocking/unblocking, balance updates, bulk uploads for payroll/rebates/incentives/payouts, and supports multiple cards and currencies per account. Licensed to financial institutions and used to power all Tuxedo consumer, corporate and white-label card products.
• Corporate Solutions

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered supporting and core.

• EMRsupportingStrategic or Co-development Partner · 1 December 2012Partnership with EMR, one of world's leading scrap metal recyclers, to provide prepaid MasterCard solution for cashless payments following UK government cash ban legislation. Tuxedo integrated card issuing and loading platform into EMR core business systems for real-time card issuance and money loading.
• The Apprenticeship TrustsupportingStrategic or Co-development Partner · 1 October 2012Charity using Tuxedo general spend prepaid card for apprentices. Trust provides wages loaded onto cards, educates on financial management, and earns cashback on card spend.
• ProxamacoreTechnology or Integration · 1 February 2011UK and Europe first partnership bringing contactless, prepaid and mobile technology together. Joint solution leverages MasterCard PayPass technology running on Tuxedo's *e*ccount platform, enabling mobile contactless payments on NFC handsets.
• NovoPaycoreOEM/ Whitelabel/ Licensing Partner · 1 January 2010Exclusive license contract where Tuxedo develops, maintains and supports *e*ccount technology on behalf of NovoPay for Middle East markets. NovoPay uses Tuxedo platform to offer payroll and expenses cards.
• Newcastle Building SocietycoreOthers · 1 January 2010One of three issuing institutions for Tuxedo prepaid cards. Cards issued pursuant to MasterCard licence. NBS is authorised and regulated by Financial Services Authority as issuer of e-money (registration no. 156058).
• IDT Financial Services LimitedcoreOthers · 1 January 2010Card issuing institution regulated by Financial Services Commission, Gibraltar (Registered No. 95716). Issues cards pursuant to MasterCard licence.
• Conister BanksupportingOthers · 1 January 2010One of three issuing institutions enabling Tuxedo prepaid card and e-money products across European countries.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Marqeta: Modern card-issuing platform providing API-based prepaid and debit card infrastructure to fintechs and brands. Highly comparable to Tuxedo's *e*ccount® white-label platform model, though scaled to a much larger enterprise customer base.
• Galileo Financial Technologies: Back-end card issuing and processing technology used by banks and fintechs globally. Closely comparable to Tuxedo's role as a third-party processor powering branded prepaid card programs for partners.
• Payoneer: Prepaid multi-currency card program targeted at freelancers, marketplaces, and SMBs. Comparable in product (prepaid USD/EUR/GBP cards) and corporate payout/rewards use cases overlapping with Tuxedo's payroll and incentive solutions.
• Revolut: Direct-to-consumer multi-currency prepaid card offering FX spending and ATM withdrawals with no conversion fees. Competes head-on with Tuxedo's Travel Currency Card on price, app experience, and currency breadth.
• Wise (formerly TransferWise): Multi-currency card with mid-market FX rates and global spending. Comparable product overlap with Tuxedo's Sterling/Euro/USD Travel Currency Card, though targeting more digital-native and remittance use cases.
• PrePay Solutions (Edenred): European white-label prepaid card issuer and program manager for corporate and consumer brands. Directly comparable to Tuxedo's white-label/embedded model and its 32-European-country reach via partner issuing banks.
• PaySafeCard (Skrill/Paysafe): Prepaid payment solutions (vouchers, cards) for online and travel purchases in Europe. Comparable to Tuxedo's consumer prepaid and travel money products and historically overlapping customer segments.

Emerging players

• NovoPay: Middle East prepaid/payroll provider that licenses Tuxedo's *e*ccount® platform. Comparable as a regional rollout of the same technology stack and a proof point for Tuxedo's licensing business model.

Broad incumbents

• Green Dot Corporation: US-listed prepaid card issuer and program manager with banking-as-a-service offerings. Comparable at the prepaid program-management and direct-to-consumer card layer, though operating primarily in the US rather than Europe.
• NetSpend (TSYS/Fiserv): Prepaid debit card program manager for underbanked consumers in the US. Comparable product (general-purpose reloadable prepaid cards) and corporate-program distribution model, but US-focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/tuxedoemoney
• LinkedInlinkedin.com/companies/tuxedo-money-solutions

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tuxedo Money Solutions