Most times a prepaid card is easily mistaken for a credit card, neither is it a debit card. This is because, basically a prepaid card is not linked to any bank account, any money put in it doesn't fall under of the financial services. When your money is loaded into a prepaid card it isn't earning interest as it could do in a bank account.
This has led to the emergence of the co-branded credit card. It is a specially branded retail merchant credit card that is issued jointly by a retail merchant and a payment network provider. As the name implies the co-branded credit card is specially branded with the logos of both the network provider and the retail merchant.
Co-branded credit cards are becoming popular these days mainly as a way of appearing more appealing in today's market. As at 2014, 31% of all payments made using credit cards were made by co-branded credit cards. They require a complex range of relationships across institutions. This could be a reason why it is mainly used by large scale retail outlets.
A closed loop prepaid card can only be used at certain locations, they don't usually have a network logo on them. Which means a close loop card might be useful only at a specific store or a group of stores or on your public transport system.
If you wish to stay away from the banking halls, or your daily schedule doesn't give you the chance to stand in line at the bank waiting your turn to withdraw from your checking account, then you are encouraged to try out the prepaid card.
If you use the VISA co-branded credit card program, you would be guided on how to develop a viable co-branding business plan that meets your expectations.
How to make use of a prepaid card Check your balance before making use of your card, because a prepaid card is funded with the money you load unto it. Before you make purchase of anything you should be sure of your balance.
Users of VISA co-branded credit cards also have the opportunity to be on a sophisticated platform that enables users to have card linked campaigns that are perfectly suited to incentivize spending behavior in chosen categories.
With the VISA co-branded credit card program, you can stand out by giving your customers great alternatives when it comes to the redemption of their bonuses. VISA, offers you excellent cost effective programs, that would ensure that you give your best to your most loyal customers, whilst attracting new ones.
Benefits attributed to a prepaid card As no credit facility is involved, you can't be credit checked and you can't get into debt. Prepaid card can be used abroad, this cards are issued in a specific currency so be sure to check that the card you are getting covers the currency you need.
This has led to the emergence of the co-branded credit card. It is a specially branded retail merchant credit card that is issued jointly by a retail merchant and a payment network provider. As the name implies the co-branded credit card is specially branded with the logos of both the network provider and the retail merchant.
Co-branded credit cards are becoming popular these days mainly as a way of appearing more appealing in today's market. As at 2014, 31% of all payments made using credit cards were made by co-branded credit cards. They require a complex range of relationships across institutions. This could be a reason why it is mainly used by large scale retail outlets.
A closed loop prepaid card can only be used at certain locations, they don't usually have a network logo on them. Which means a close loop card might be useful only at a specific store or a group of stores or on your public transport system.
If you wish to stay away from the banking halls, or your daily schedule doesn't give you the chance to stand in line at the bank waiting your turn to withdraw from your checking account, then you are encouraged to try out the prepaid card.
If you use the VISA co-branded credit card program, you would be guided on how to develop a viable co-branding business plan that meets your expectations.
How to make use of a prepaid card Check your balance before making use of your card, because a prepaid card is funded with the money you load unto it. Before you make purchase of anything you should be sure of your balance.
Users of VISA co-branded credit cards also have the opportunity to be on a sophisticated platform that enables users to have card linked campaigns that are perfectly suited to incentivize spending behavior in chosen categories.
With the VISA co-branded credit card program, you can stand out by giving your customers great alternatives when it comes to the redemption of their bonuses. VISA, offers you excellent cost effective programs, that would ensure that you give your best to your most loyal customers, whilst attracting new ones.
Benefits attributed to a prepaid card As no credit facility is involved, you can't be credit checked and you can't get into debt. Prepaid card can be used abroad, this cards are issued in a specific currency so be sure to check that the card you are getting covers the currency you need.
About the Author:
Co-branded prepaid cards are here to maintain, the convenience and access of using them constantly pull at the heart strings of the public. This is one of the most innovative payment solutions that the Fintech industry has yet come up with credit card programs.. This article, Co-Branded Credit Cards: Helping Retailers Maintain Relevance In Changing Market Dynamics. has free reprint rights.
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