A co-branded credit card is a special form of credit card program that is issued by both a retail merchant and a specific network sponsor. It is premised on the fact that the retail merchant has an outstanding relationship with the specific network sponsor.
Types of prepaid cards Basically there are different types of prepaid cards, they can be open loop or a closed loop, a reloadable or non-reloadable prepaid card and some special cards like a payroll card or college ID cards.
In the subsequent paragraphs we would examine some of the types of prepaid credit cards that are available for customers today. Closed System Prepaid Card. This is a prepaid card that can be used only at a single merchant. It is similar to the co-branded credit card but only with respect to the fact that it originates from the relationship a merchant has with a financial institution. A majority of the close system prepaid cards are stored value cards and external records of transactions do not exist.
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.
Visa as an establishment has the requisite experience and expertise to ensure that your desire to have a co-branded card program not only comes to light, but also succeeds. We have a team of financial experts who are tasked with helping merchants and retailers not only develop their co-branded business plans, but also prepare a request for proposal to potential issuers.
Young teenagers who are not generally eligible for a credit card can get a prepaid card. It can also be used as a tool to encourage a better saving culture in young adults.
A major advantage of having a prepaid card is that it is a viable alternative to having raw cash on you. It works perfectly for those who may want to keep their purses a little neater, or are too busy to go to the bank to withdraw cash.
Visa's card linked services come on a sophisticated platform that enables a retailer to have a loyalty campaign specifically engineered to incentivize consumer spending styles of his customers. Staying true to the purport of having a co-branded credit card, Visa has a reward redemption policy that offer customers more endless alternatives when it comes to claiming their rewards points which can either be online or in the store.
Types of prepaid cards Basically there are different types of prepaid cards, they can be open loop or a closed loop, a reloadable or non-reloadable prepaid card and some special cards like a payroll card or college ID cards.
In the subsequent paragraphs we would examine some of the types of prepaid credit cards that are available for customers today. Closed System Prepaid Card. This is a prepaid card that can be used only at a single merchant. It is similar to the co-branded credit card but only with respect to the fact that it originates from the relationship a merchant has with a financial institution. A majority of the close system prepaid cards are stored value cards and external records of transactions do not exist.
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.
Visa as an establishment has the requisite experience and expertise to ensure that your desire to have a co-branded card program not only comes to light, but also succeeds. We have a team of financial experts who are tasked with helping merchants and retailers not only develop their co-branded business plans, but also prepare a request for proposal to potential issuers.
Young teenagers who are not generally eligible for a credit card can get a prepaid card. It can also be used as a tool to encourage a better saving culture in young adults.
A major advantage of having a prepaid card is that it is a viable alternative to having raw cash on you. It works perfectly for those who may want to keep their purses a little neater, or are too busy to go to the bank to withdraw cash.
Visa's card linked services come on a sophisticated platform that enables a retailer to have a loyalty campaign specifically engineered to incentivize consumer spending styles of his customers. Staying true to the purport of having a co-branded credit card, Visa has a reward redemption policy that offer customers more endless alternatives when it comes to claiming their rewards points which can either be online or in the store.
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The benefits of having a Visa co-branded credit card cannot be over avoided. In this age of competition between retailers, having a co-branded card program is one way to stay ahead of your competitors, whilst rendering the best services to your customers.
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