The Financial Concept

Prepaid cards are the fastest growing area of payment cards and can extend your business brand recognition and provide an innovative way to serve existing customers as well as reach out to new markets. Prepaid Cards do not require cardholders to have bank accounts or to be credit-worthy, which immediately presents a huge global market. Advantages of positioning a prepaid card program for your business are as follows.

The Benefits of Prepaid

Prepaid cards are the fastest growing area of payment cards and can extend your business brand recognition and provide an innovative way to serve existing customers as well as reach out to new markets. Prepaid Cards do not require cardholders to have bank accounts or to be credit-worthy, which immediately presents a huge global market. Advantages of positioning a prepaid card program for your business are as follows.

Benefits for Organisations

  • Implement loyalty and reward programs that increase customer retention, drive repeat purchases and create awareness of new products and services
  • Ability to “close loop” and restrict usage of card to specified outlets; or use “open loop” and enable use at over 24 million global outlets that accept MasterCard® or Visa®
  • Creates brand recognition for your business
  • Implement loyalty and reward programs that increase customer retention, drive repeat purchases and create awareness of new products and services
  • Ability to significantly decrease costs associated with disbursing funds to members or affiliates that are globally dispersed

Benefits for Retailers

  • A card program allows clients to have access to card activity data, and when used as part of a Customer Relationship Management campaign creates increased up-selling/cross-selling opportunities.
  • A Unique competitive advantage allows the card to be disabled at any competing stores, if required. Also promotions can be switched on or off, helping drive transaction volume, where and when desired
  • Revenue opportunity through issuance of a universally accepted card program. Transaction revenue is earned at a number of transaction points
  • Improvements to client acquisition, retention and wallet share – the products can capture previously unattainable clients from the youth, transient and un-banked communities retention is assisted by providing greater convenience and “pay-out” speed