Monday, August 25, 2014

How Can Your Business Benefit From Using Co-Branded Prepaid Cards?

By Brian Moore


In today's world, consumers have many payment options available to them that they can use to purchase goods and services from various companies. These payment choices include; credit cards, debit cards, cash, checks, money orders, bank drafts, and even prepaid credit cards.

Defining Prepaid Credit Cards. Prepaid credit cards are not your typical credit cards, as the money you spend belongs to you and not the bank. For instance, if your budget for the month is $25,000, you will deposit that amount into the prepaid credit card for later use.

Defining Co-branded Prepaid Cards. Large and small businesses may provide their employees and customers with a co-branded prepaid card. When the employees and customers apply for the card, they will get the chance to use the card to make purchases globally.

On the co-branded card, people will find the logo of the company and the logo of the two leading prepaid card programs, MasterCard and Visa. The companies work in unison with card program providers to provide people with the opportunity to make a purchase.

In fact, numerous companies that have come together to produce the card have their logo present on the card. After the company distributes the card to their respective cardholders, the company or the cardholder can deposit money into it. Thus, allowing the cardholders to purchase from online retailers located across the globe. How Your Business Can Benefit from a Co-Branded Credit Card?

Co-branded prepaid cards are a beneficial investment for your business to make. Following are reasons stating how your business can benefit from the use of a co-branded card:

- A co-branded card allows you to collaborate with MasterCard or Visa to provide the services of prepaid transactions with the help of a prepaid card program.

A prepaid card program allows a business to work in partnership with Visa or MasterCard to provide customers with services similar to prepaid transactions.

Customers will be more reluctant to associate with your company if your company provides them with this option, as they would not have to go through a lengthy transaction process, but will get instant access to the money, thus can resume their purchases.

The prepaid card program allows employees to access their salary as soon as the company deposits it. No matter where your customers or employees are located, they will be able to use the card due to the company's collaboration with Visa and MasterCard, as these brands have garnered worldwide recognition in more than 100 countries.

Up and coming or established businesses should incorporate co-branded prepaid card into their business structure due to the multitude of benefits it provides them.




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