Now that cash payments for scrap metal are illegal, the industry has needed to change how it handles funding quite significantly. We have developed a solution that is simple and cost effective for dealers, while being secure and convenient for customers.
Our new MasterCard or Visa prepaid bank card program has been developed with scrap merchants in mind, allowing you to issue prepaid cards in place of cash to any customer regardless of credit history. These cards can be loaded with the required cash amounts instantly and then issued to customers without anyone having to undergo credit checks or any type of referencing. Customers can withdraw the funds from any ATM in cash or spend the funds in stores or online just like any other Visa/MasterCard backed card.
As a leading bank agent ISO/MSP within the payments industry, we have vast experience and have been facilitating these types of prepaid card programs for over 7 years. The cards are reloadable and anonymous. You can purchase these cards in small batches ready to hand to customers in place of cash and if you wish, you can pass on the initial fees to the cardholder. By offering a user friendly solution for sellers, it encourages relationship building with sellers, the reloadable cards make repeat sales extremely easy to administer and reduces overheads for all parties. The lack of physical funds also enhances security for all parties in the transaction with easy management and control of the funding.