Solutions | Brandable Prepaid Cards & Card Programs

By: Hyperwallet  09-12-2011

Overview

Harness the power of prepaid, globally

In 2008, Mercator estimated total prepaid volume across the world’s top 30 markets was US$762.2 billion across six major segments.

Clearly, the market for prepaid cards is exploding. How will your business capture a share of this growing market?

Why Prepaid?


Prepaid cards offer an enormous opportunity for businesses and banks to capture new revenue streams, enhance brand loyalty and deliver value.

The start of any pre-paid program is the business case:

  • Who is your target customer?
  • What is your value proposition?
  • How will your program compete in the market?

Obviously, pricing is much different for an employee card than one targeted to your customers, and this needs to be factored into any decisions about the type of program being implemented.

hyperWALLET can create multiple programs and sub-brands, each with unique capabilities. You control the brand, fees and services, while we handle the rest.

Prepaid Card Programs

Prepaid Card Opportunities

  • Pre-Funded: As a “pay first” business model, prepaid cards help manage and limit user spending from the beginning of the transaction chain.
  • Spend Control : Users can only spend the amount of funds pre-loaded onto their cards and thus fraud, debt and overspending can be significantly reduced or eliminated.
  • Privacy & Security: Prepaid cards do not require a bank account, providing exceptional privacy and security benefits.
  • Branding & Loyalty: Prepaid cards are easily brandable and can help organizations extend brand equity internally or into the marketplace, to drive customer/staff loyalty and retention.
  • Commissions
  • Expense
  • Government
  • Healthcare
  • Incentive
  • Insurance
  • Loyalty
  • Payroll
  • Retail
  • Rewards
  • Travel
  • Unbanked
  • Underserved
  • Youth

hyperWALLET Prepaid Cards

 

Why hyperWALLET?

Since 2000, hyperWALLET has been a leading provider of card solutions. We are a vertically integrated program manager to world-class customers globally.

hyperWALLET’s integrated prepaid card service is designed for businesses, governments and NGOs who need to provide unbanked or temporary beneficiaries with additional value redemption options.

Unified Prepaid Card Programs

  • Multi-currency: hyperWALLET is a global program manager of pre-paid cards in multiple currencies.
  • Integrated: Our clients focus on brand -- we focus on delivering everything you need to launch a prepaid card, from fulfillment to multilingual customer support.
  • Control: hyperWALLET provides a flexible multi-lingual, multi-currency white label platform which provides you with control over brand, services and fees.
  • Flexible: Our flexible prepaid card programs allow any business to develop and launch multiple pre-paid programs, from a USD consumer gift card to a reloadable remittance card in a foreign currency.

 

 

Issue cards in local currency

hyperWALLET's domestic prepaid card service is underpinned by multiple integrated bank partnerships, in which all cards are issued in local currency through local regulated financial institutions.

This approach greatly reduces beneficiary and program costs when compared to dollar-denominated prepaid cards that are issued by a U.S. bank and utilized by a foreign beneficiary.

Locally-issued card products are not subject to foreign exchange levies (often in excess of 5%), nor do they attract high “foreign” ATM withdrawal fees.

 

Remain fully compliant at all times

In addition to program cost savings, hyperWALLET's service ensures that sponsoring organizations remain in compliance with local financial and “Know-Your-Customer” (KYC) regulations, as well as card network issuing policies.

Integrated Pay Portal

Cardholders can easily check account balances, transaction history, enable
payment notifications, and manage their spending via a white-label Pay Portal
that reflects your organization's brand in the marketplace.

Benefits

 

Enable enhanced prepaid card programs

hyperWALLET's prepaid cards provide both the cardholder and business with significant benefits:

For Cardholders

  • Reduced fees (compared to debit)
  • Cardholders are protected – they can only spend money that’s on their card
  • Cardholders get immediate access to funds 24hrs/day, 7 days/week, 365 days/year
  • Mobile balance and transaction alerts
  • Reload/Auto replenish
  • Multi currency
  • Multi language support
  • Convenience - access cash anywhere, anytime through worldwide ATM and POS
  • Eliminate the need to carry cash or checks
  • Cardholder funds are protected by a personal, private PIN (Personal Identification Number)
  • Cardholders can view and track transactions and balances via an online account or mobile phone
  • Cardholders can easily report a lost or stolen card through a toll-free 24/7 hotline

For Business

  • Provides an instant and cost effective recurring payment option for your employees, agents and beneficiaries
  • Reduce dependency on checks, save time and lower administrative costs
  • Improve expense management with reloadable prepaid cards and control spending
  • Increase efficiency of your cash management strategy
  • Easy and efficient instant activation of prepaid cards via secure web interface
  • Our ready-to-use management interface provides detailed online reporting for easy reconciliation
  • Upload transaction data to existing financial management and reporting systems
  • Secure and seamless integration of card programs with existing business processes
  • Expand your marketing reach with branded reward, gift and purchase rebate cards
The information in this article was current at 06 Dec 2011


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