Case Study: Branded, Reloadable Prepaid Card

Client Description

Multiple leading Money Service Businesses (check cashers) with a combined store count of over 2,000 locations.

Challenge

Money Service Businesses (MSBs) have long been a primary source of financial services for consumers who are underserved by traditional banks. However, in recent years, MSBs have found themselves in competition with alternative products, including general purpose reloadable cards available from a wide variety of retail outlets.

To address that competitive issue, our MSB clients needed a flexible, integrated prepaid card solution that was uniquely adaptable to their specific business models and technology. The solution needed to provide compliant access to cards, reduce internal overhead and fraud, and increase value to consumers over cards available from other sources.

Solutions

Prepaid Solutions USA worked with the client to define their unique business requirements. We then designed technology plans to develop card programs that integrated with their approach to the MSB business, and deployed the solution to the market. The cards are sold through their retail locations to help drive customer loyalty, increase revenues and reduce cash handling requirements.

Prepaid Solutions USA combines flexible functionality, including direct deposit capability, with smart, appealing brands to help drive sales, offer compelling consumers experiences, ensure compliance, and offer system efficiencies that keep cost and fraud low.

Result

Since 2004, the integrated card product solutions that Prepaid Solutions USA helped develop have allowed our MSB clients to sell premium-branded, exclusive card products that are compliant and offer instant-issue capability.

Click here to contact us and learn how Prepaid Solutions can help your business thrive.