Author: Bread4Scrap Team

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Scrap Payments

Revolutionising Scrap Metal Payments: Introducing Bread4Scrap

The scrap metal industry, a vital cog in the manufacturing and recycling sectors, has seen significant changes in recent years. One critical transformation is the shift towards cashless payments. This pivotal change, enhancing transparency, increasing security, and improving regulatory compliance, propelled the industry into the modern era.

Enter Bread4Scrap, a revolutionary solution that offers a modern, compliant, and efficient payment method for scrap metal transactions. The platform heralds a new era in the scrap metal industry, offering a modern, compliant, and efficient method for managing scrap metal transactions. But Bread4Scrap is not just a payment solution. It’s a comprehensive system that addresses multiple areas of scrap metal operations, making it an invaluable tool for businesses seeking to streamline their processes and boost their performance.

In this article, we delve into the features, benefits, and workings of Bread4Scrap. We explore how it enhances various roles within the industry, compliance with Home Office regulations, seamless integration with other management platforms like FRED5, and the platform’s transparent pricing structure.

Bread4Scrap: Smart and Secure Scrap Metal Payments

Bread4Scrap is an innovative payment solution trusted by hundreds of scrap metal and recycling yards across the UK, helping to streamline their operations and optimise their performance. Brought to you by B4B Payments and leaning on 17 years of experience in the payments industry, Bread4Scrap offers two easy options for fast, secure scrap payments.

Using a secure, simple, and cashless system, Bread4Scrap refines the transaction process for both buyers and sellers of scrap metal, offering several benefits to different roles within the scrap ecosystem.

  • For Managing Directors, it ensures compliance with financial regulations, provides transparency, and streamlines processes, ultimately enabling better decision-making.
  • Yard Managers benefit from a user-friendly interface, real-time updates on payment statuses, and reduced paperwork.
  • Depot Managers can efficiently manage payments, automate workflows, and gain enhanced visibility into payment activities across multiple locations.
  • Finance Managers experience financial accuracy, improved cash flow, seamless integration with existing systems, and enhanced reporting capabilities.

Multiple Payment Methods for Convenience and Flexibility

Distinguishing itself with smart and flexible payment options, Bread4Scrap enhances user convenience by allowing prepaid card and business payments through its straightforward payment platform. With full compliance with Home Office regulations and no hidden fees, it ensures a smooth and efficient payment process.

Bread4Scrap allows users to load funds onto prepaid Mastercards, enabling customers to withdraw cash from ATMs or spend globally. The flexibility and convenience of prepaid cards position them as an attractive payment method. Simultaneously, businesses can make direct transfers into customers’ bank accounts, promising lower transaction costs and thus yield substantial savings compared to traditional banking methods.

Transparent Pricing: Eliminating Hidden Costs

Transparency is key with Bread4Scrap. The pricing structure is clear, eliminating surprise costs.

For scrap yards, each card costs £6.50, requiring a minimum order of 100 cards without additional setup or loading fees. Cardholders incur a 2% transaction fee (min £0.20, max £1.50), a £1.50 ATM withdrawal fee, and a £1k total daily withdrawal limit.
The cost of business payments is both competitive and transparent. Faster Payments/SEPA cost 35p, Swift Payments £10, while foreign exchange transactions are marked up by a mere 1%.

How Does Bread4Scrap Work?

It’s easy to start with Bread4Scrap, with three short steps to complete before funds are ready to spend: sign up, add customers, and load funds. 

Bread4Scrap ensures a seamless user experience. After signing up, security checks are conducted, and a comprehensive management platform is created for straightforward card and business payments. Prepaid cards are shipped ready for customer distribution.

Customer details are captured, and Know Your Customer (KYC) checks are run through a secure management portal. Customers receive a card pack containing a prepaid card and PIN. The management portal can instantly load cards 24/7 or make direct bank payments with swift processing times and low fees. Customer notification of fund loading is sent via text or email, and they can manage their accounts through the cardholder portal. Cards can be reloaded repeatedly, enabling customers to make recurring transactions and continue using the service.

To sign up, simply visit Bread4Scrap and punch in your details. From here, we can run through our security checks and start your payment journey.

Opting for Bread4Scrap: An Intelligent Decision

Bread4Scrap presents the capability to issue cards to customers, catering to underbanked individuals. With over 17 years of experience in the payments industry, B4B Payments ensures a reliable and efficient service. Payments can be made within minutes, and card delivery to scrap yard sites is typically completed within two days upon dispatch.

The system’s full compliance with Home Office regulations and secure portal for payment tracking make it a trustworthy solution. Opting for Bread4Scrap not only offers modernised payment methods but also signifies a move towards a safer, more efficient, and regulatory-compliant business operation.

Discover the Potential of Bread4Scrap

Bread4Scrap stands poised to revolutionise the scrap metal industry with our innovative, reliable, and compliant payment solutions. If you don’t want to get left behind – find out more about Bread4Scrap and explore what it can offer your business.

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case study

Scrapco Metal Recycling case study

Scrapco Metal Recycling has seen the benefit of Bread4scrap cards

About Scrapco Metal Recycling

Scrapco Metal Recycling Ltd is a highly respected family-run business, established in 2006. They now have three UK sites: Erith in London and Paddock Wood in Kent. Scrapco Metal Recycling Ltd specialise in nationwide garage scrap metal collections, scrap metal purchasing across the country, and scrap car processing throughout London, South East & East Anglia.

The situation

With the introduction of new regulations in recent years, selling and purchasing scrap metal has become a much more heavily regulated industry. Violations can often result in hefty fines for those who fail to abide by these laws. Keeping up with the ever-evolving scrap metal trading rules is critical for both dealers and customers to ensure successful transactions

For Scrapco, adhering to the law is imperative however, this shift away from cash posed a difficult obstacle for the scrap metal industry which had been relying on it as its primary form of payment before the regulations were introduced.

The solution

B4S stands at the forefront as a provider for industry-leading prepaid cards and payment solutions to support businesses in the scrap industry. Bread4Scrap simplifies and streamlines the scrap payment process, providing our clients such as Scrapco with a secure, reliable solution that allows them to instantly make payments to secure and compliant payments to customers. Our Bread4Scrap card is convenient for scrapyard customers who sell scrap metal to yards such as Scrapco, and can now make use of their funds instantly. It’s a straightforward, compliant alternative to cash and a safer way to pay.

Danny Hunn at Scrapco was clear about the benefits of the B4S system:

It has allowed us to grow our customer base. The prepaid cards are simple to set up, load and our customers find them easy to use. We would definitely recommend B4S.

Dan Hunn at Scrapco

In addition, our recently launched Bread App is a smart and secure way for B4S cardholders to manage their Bread cards on the go.

The benefits

B4S solutions allow Scrapco to save time and money with a seamless all-in-one payment process by securely loading funds onto a prepaid Mastercard or making payments directly into a customer’s bank account; all from an easy-to-use existing management portal. Leveraging on B4S fast and secure cards and payment solution Scrapco.

Scrapco is one of our most loyal clients and we continually have them in mind when we develop our product. The relationship has been built over many years and I’m looking forward to growing it in the future.

Tim Robson Director of Accounts for B4B Payments

B4S commitment to excellent service has led our team to create a convenient, simple and consistent prepaid cards and payment solutions system for the scrap industry.

If you would like to find more about Bread4scrap cards, please get in touch here.

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case study

Chase Metal Recycling case study

How one of Bread4Scrap’s longest-standing clients, Chase Metal Recycling use prepaid cards for scrap metal payments.

We have found Bread to be an easy system to use, it complies with the law regarding photo ID, and enables our customers to receive funds quicker than a bank transfer.

Chase Metal Recycling

About Chase Metal Recycling

Based in Staffordshire, Chase Metal Recycling takes all grades of scrap metal and scrap vehicles. They are also an authorised ATF with the DVLA. Established for over 23 years, they have a wealth of experience servicing domestic, commercial, and industrial sectors and have a reputation for providing environmentally friendly recycling. They bring their experience and expertise to recycle all types of metal, including end-of-life vehicles and domestic, commercial, and industrial metal waste products.

The situation

Since 2013, cash has been completely removed as part of the Scrap Metal Dealers Act 2013, and dealers can now pay using prepaid cards or an electronic transfer of funds. The legislation was intended to minimise instances of fraud, metal theft, and other crimes from the scrap industry by bringing in auditable systems.

B4B – trading as Bread4Scrap – is one of the primary providers of prepaid card products and payments for the scrap industry following this legislation. Working with our many scrap clients, Bread4Scrap provides an easy-to-use turnkey solution that allows scrap merchants to quickly make payments to secure and compliant payments to customers.

The solution

Chase Metal Recycling chose Bread4Scrap as an easy alternative to cash for scrap metal payments to improve customer satisfaction and retention. The yard can now load funds onto the prepaid B4S MasterCard, allowing customers to either withdraw funds from an ATM or spend at millions of locations worldwide. B4S also recently launched services to allow yards to make payments directly into their customers’ bank accounts with no hidden fees and lower transaction costs than the local bank.

A fully FRED5-integrated Bread4Scrap portal allows scrap yards such as Chase Metal Recycling to weigh scrap and issue payments from one platform, saving time and money.

The benefits

We hope to maintain a healthy working relationship and continue to please our customers with quick and easy payments using their Bread cards. We would recommend Bread to other companies.

Chase Metal Recycling

Chase is among a growing number of scrap yards who use Bread cards – and increasingly direct bank payments – to power the circular economy. We’re proud to have them as our long-term customer.

Director of Accounts for B4B, Tim Robson

If you would like to find more about Bread4scrap cards, please get in touch here.

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Uncategorised

Why Brits still don’t know how to recycle

We have to admit – the world’s efforts towards recycling have never been better. Major companies are contributing towards the issue, for example, Adidas, who manufacture shoes from ocean plastic that has been recycled. The bad news: it’s still not enough. Recycling goals are difficult, but many of the issues are extremely easy to overcome. For the UK, there are two significant problems that stand in our way: a lack of education and being too stuck in our ways.

Recycling in the UK

When asked, 60% of Brits said that they make an effort to buy products that have been packaged using recycled materials. So, what’s going wrong?
For one, a study in 2019 discovered that 86% of London citizens want to recycle, but don’t know how.

When the UK first started recycling, all materials were separated. Eventually, recycling became easier, and a system was put in place where people could put everything in a single bin. This would then be separated by members of staff at the recycling centre. However, instead of deciding whether something could be recycled before they tossed it in the bin, people became lazy, meaning lots of recyclable materials were ruined.

Common confusions 

In general, people are unsure as to what plastics are recyclable. This can also be said for wood and metal. An unexpected addition to this list is crisp packets, which are not actually able to be put in a recycling bin. To make matters more confusing, you can actually recycle crisp packets, but you’ll have to find a collection point near your home. Luckily, most UK residents have a collection point within four miles of their address.

But a crisp packet is only small, right? Surely it can’t do that much damage to a recycling bin. However, statistics show that 93% of UK households buy and consume crisps. This is a pretty impressive figure, but one that can cause some serious recycling issues.

Brit’s bad habits

For some reason, many of us assume that magazines can’t be recycled. Just because they’re glossy, they’re still made of paper, meaning this assumption is wrong.

Another classic habit is to recycle our plastic bags. Even if it’s a bag for life, the whole point is to utilise these a number of times, not just to throw them in recycling.

Shredded paper is a no – this will definitely end up at a landfill if it finds itself in one of your recycling bins.

We’ve all seen the battery collection boxes in supermarkets, but how many of us use them? Batteries are not designed to be thrown in the bin, recycling or otherwise. They’re full of lots of harmful chemicals, so make the effort to take them to a collection point or supermarket.

Finally, if you think you’re helping the environment by recycling old clothes, you’re probably wrong. While the sentiment is good, they’ll a quarter of clothes in the UK end up in landfills. Luckily, there are plenty of alternatives for old clothes, Depop being a good one. There are also numerous charities that will take your clothes, and this way, you’re helping someone in need at the same time.

Recycling will always be a tough job and a big one. If you cut back on these small and easily-amended habits, you can contribute to a great cause. Tell your family and friends, and help to combat any recycling mistakes in the UK.

Statistics: https://www.recycling-magazine.com/2020/09/16/un-bin-lievable-brits-still-dont-know-how-to-recycle/

Bread4Scrap has been partnering with scrap metal recyclers in the UK since 2016, and we are here for you, whatever the situation may be. Don’t hesitate to contact us today for guidance.

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Uncategorised

The growth of the metal waste industry

According to a metal waste and recycling market analysis, the sector is showing impressive growth rates by 2024. This report utilises primary data, vendor briefing, the scope of the product and surveys to conduct a detailed study of the industry and its movements.

It also takes into account the effect of Covid-19, which is drastically changing global economies.

The recycling and metal waste market

Metal scrap refers to scrap that is both ferrous and non-ferrous, with ferrous scrap (irons and steels) being generated from old products or manufacturing processes. Non-ferrous scrap, however, usually comes from household appliances, railroad tracks automobiles, and more. These include copper, zinc, lead, and others, and aren’t affected through the process of recycling, meaning they can be recycled again and again without an issue. The research in question focuses on four key examples: iron, copper, aluminium, and lead.

The scope of the report

Metals have high densities meaning they can be efficiently transported, making them one of the first materials to be utilised in the recycling process. In 2018, the scrap recycling industry was worth $26.83 billion in the US, amounting to 120 million tonnes of recycles materials on a yearly basis.

The report summarises that the recycling industry is expected to reach 688044K MT by 2025, meaning it will have grown at a CAGR of 1.46% since 2017’s statistics.

The metal waste and recycling market worldwide is estimated to increase at a CAGR of 2.9% by 2025, meaning the industry will hit figures of £340,600 million. This is a significant increase from today’s figures.

The report largely focuses on the global market in areas such as South America, Middle East, Europe, North American and Africa, distinguishing between different aspects of the market using applications, types, manufacturers and regions. More specifically, the analysis covers:

• Mexico, Canada and the US for North America
• Russia, Italy, France, Germany and the UK for Europe
• Japan, Korea, Southeast Asia, India and China for Asia-Pacific
• Colombia, Brazil and Argentina for South America
• Nigeria, South Africa, Egypt, Saudi Arabia, UAE for the Middle East and Africa

As mentioned above, the market is divided into segments. These are packaging, battery, shipbuilding, equipment manufacturing, building and construction, automotive, customer appliances, and others.

Questions the report addresses

This metal waste and recycling analysis is detailed and thorough, answering some of the industry’s major questions, such as:

• What manufacturing technologies does metal waste and recycling make use of?
• How are these technologies developing?
• Which companies are the key players in the recycling and metal waste market?
• What is the current status of the metal waste and recycling market, and what is its competition?
• What is the industry’s estimated cost and profit looking into the future?
• What is the economic impact on the industry?
• How should we strategise to combat these economic impacts?

If you are interested in the growth of metal waste industries, this report is an excellent read. 

Bread4Scrap has been partnering with scrap metal recyclers in the UK since 2016, and we are here for you, whatever the situation may be. Don’t hesitate to contact us today for guidance.

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Uncategorised

How Covid-19 is affecting the scrap metal shredder market

With the coronavirus pandemic affecting all aspects of the UK economy, the metal shredder market is no exception. With trade changing across a multitude of countries, the recycling market is near the top of the list of those to be affected. As the scrap market’s functionality is dependent on the prices of metal, a country’s economic position is a key component in its potential growth and success. Here we discuss how Covid-19 is taking a toll on the scrap sector and its businesses:

Changing currency values

Quite simply, if the currency value changes, the price of metal scrap will inevitably be affected and the general metal industry will take a hit. It goes without saying that the global economy is in disarray, and it’ll most likely take time for the value of currencies to be evaluated correctly. Plus, the situation is constantly changing, which makes this even harder to work out. However, the results of this will be crucial for the scrap industry and have the potential to determine the success of its future. This will then have a direct impact on any scrap metal shredders in the market.

Restricted movement

As the Government continues to encourage restricted movement where possible in an attempt to keep the spread of the virus to a minimum, the scrap sector is being hindered. If people are unable or unwilling to move between cities, their metal scrap will stay put along with them.

This means that scrap dealers are more inclined to shut down during the pandemic, which will further affect the scrap metal shredding market, as its revenue growth is limited.

There are small rays of hope, as can be expected with such a regularly changing situation. For example, since China has recently lifted its lockdown, they can now continue to drive the metal scrap market, offering hope for growth in the near future. However, we have seen countries lift their lockdowns only to reinstate it weeks later when cases begin to rise, meaning the situation is extremely precarious.

Shortage of workforce

As mentioned above, many scrap yards have made the decision to close throughout the pandemic. Even those that haven’t are now suffering from a shortage of workforce, meaning they are likely to follow suit. Businesses may be short on money and therefore cannot afford to pay every member of staff, and many people are still afraid to return to work, particularly those who fall in the at-risk category if they were to contract the virus. The Government approach to the scrap metal sector looks to be fairly lenient, with them being more focussed on safety and ensuring essential businesses are able to continue functioning to some degree of normality.

Less demand

As the economy slows to a stop, it is expected that the demand for the scrap market will decrease, meaning production levels will fall. Overall, the changing nature of the coronavirus pandemic leaves the scrap metal shredder market in a state of uncertainty for the foreseeable future.

However, all is not lost!

Bread4Scrap has been partnering with scrap metal recyclers in the UK since 2016, and we are here for you, whatever the situation may be. Don’t hesitate to contact us today for guidance.