Background

CCS Prepay was approached by a micro loan company based in the Nordic region. The objective behind the request for Euro prepaid debit card program was to streamline the payout of short term loan disbursements. In the existing framework the loan applicant receives their loan by bank transfer. However because a significant proportion of loan account holder base are consumers with an “impaired” credit status a significant aspect will not have a credit card and thus the provision of a Loan based card will contribute to the value proposition of the client whilst at the same time increasing customer retention since card reloading is dependant on the client.

The Solution

CCS Prepay was able to facilitate the provision of the required closed user solution in which the customer when completing the online loan application will be able to choose payout to card as an option for receipt of the loan. This model will also appeal to those loan applicants who are un-banked and thus unable to receive a loan by existing traditional methods (i.e. bank transfer). Since most of the customers have already been declined for mainstream credit cards, the ability to gain access to a major global payment brand provides additional product appeal in addition to the loan.

Benefits to the card holder

  Ability to receive a global payment branded prepaid card without any credit checks
  Ability to receive a global payment branded prepaid card even if un-banked
  Major global payment brand providing global acceptance for card holder transactions

Benefits to the client

  Significant and immediate revenue stream generated from card usages
  Preload of cards ensures significant card retention and incentive for card usage
  Increased brand equity by aligning with a major global payment brand
  Reporting data to identify additional trends in customer spending behavior
  Additional marketing opportunities from reporting data
  White label program helps client to reaffirm its brand and position in the marketplace

If you are interested in the provision of a similar closed user payout scheme then please contact sales@ccsprepay.com for further details.