BankWorld Pre-paid Card suite is a set of solutions based around a standard pre-paid card module, enabling banks to offer convenient new services to corporate, retail and government customers.
As payment cards become an increasingly popular way of paying for goods, customers' demand for more convenient and flexible card solutions continues to grow.
BankWorld Pre-paid cards offer banks the ability to generate revenue through a variety of fees that can be charged to cardholders at different points throughout the life cycle of the card. These fees include administration fees as well as transaction fees. They also provide a new source of large groups of employed account holders for the bank to target with offers.
Pre-paid cards are reloadable through all BankWorld self-service banking channels ranging from cash acceptors at ATMs to BankWorld Internet funds transfers. Cards are created using the bank's existing card production mechanisms and both magnetic stripe and chip and PIN technologies are supported.
Corporate Pre-Paid Cards
For companies seeking a faster and cheaper replacement for cash and cheque salary payments, pre-paid salary cards are a safer and more cost-effective alternative.
- An ideal payroll solution for companies who would like to replace cash and cheque salary payments with a cheaper alternative.
- Corporate pre-paid cards can be issued to employees as a method of payment for corporate expenses and instead of traveller's cheques or foreign currency for international and domestic business travel.
- Customer Acquisition – Employees paid with pre-paid cards are instantly new customers with the bank.
- Revenue Generation through customer fees, card transaction and management fees.
Retail Pre-Paid Cards
For customers seeking a lower risk alternative to credit cards for online shopping and other internet based payments, pre-paid cards are the ideal solution.
BankWorld Pre-paid Consumer Reloadable Cards are a CR2 pre-paid card solution which enables the bank's Retail customers to have a simple card-based account, separate from their main bank accounts. This system allows them to transact securely in the knowledge that this card cannot be used to access any of their other accounts.
Pre-Paid consumer cards offer significant fee opportunities as well as facilitate the service of new customer segments.
- Ideal solution for parents: allowing them to open a pre-paid card account for a dependant which can be easily and securely funded.
- Foreign Travel: Pre-paid card users can use their cards in ATMs and at retail outlets abroad as an alternative to procuring traveller's cheques or foreign currency in cash.
- Secure Payment Cards: Ideal for any purpose where payments need to be made but security is considered a concern, such as when travelling or using the Internet.
- Customers with poor credit rating: Especially suitable for new customers who either have no credit rating, a poor credit rating, or where the bank is unable to establish a credit rating. These cards offer an ideal solution for the under-banked.
Government Pre-Paid Cards
Pre-paid cards can be loaded with credit and used by government departments to issue regular payments to welfare recipients.