Financial institutions need to expand their product suite to remain competitive and acquire new commercial customers, and prepaid payments cards generate significant opportunity.
But as increased regulatory oversight put more demand on banks to invest in specialized resources and navigate myriad requirements, many banks realized there’s a better way to offer prepaid.
Complexities of the Gift Card Act, the Durbin Amendment, FinCin, the creation of the CFPB and greater FDIC and OCC inquiries create significant potential risk for banks if not managed appropriately.
Over the past six years, Prepaid Technologies has helped more than 100 institutions offer a suite of bank-branded commercial prepaid solutions, all backed by a seasoned team of prepaid professionals who manage every detail of the program and provide sales support. And because our team was founded by a banker, and all employees have worked for or with financial institutions during their career, Prepaid Technologies understands banking better than any other prepaid program partner.
Prepaid Technologies is the banking industry’s choice for prepaid program management, because we allow banks to:
- Maintain recurring card revenue without expense
- Eliminate all program management and issuing responsibilities
- Remove risk and compliance obligations
- Reduce compliance burden: your bank becomes a marketing distributor, not the card issuer
Financial institutions of all sizes can now offer robust new treasury management solutions including payroll cards purchasing cards and reward and incentive cards.
Prepaid Technologies makes prepaid easy, profitable and compliant by managing all of the systems, processes, technology and regulatory considerations behind every program so you can minimize the time and resources spent on day-to-day product and technology management.