A prepaid card is essentially a debit card that is not linked to a bank account. One of the major advantages of prepaid cards is that they are safer to carry than cash.
Merchants from virtually anywhere in the world will accept these prepaid cards as long as these merchants support the various card schemes e.g. Visa, Mastercard, China UnionPay, etc, of which the prepaid cards belong to.
“The report advises that governments should consider replacing any remaining check-based payments with prepaid card programs in order to realize substantial savings for taxpayers, as well as benefits for payees.” – Bank Credit News Reports (12 July 2013) – Bank Credit News Reports (12 July 2013) – AGA Report Finds Government Prepaid Cards Offer Numerous Advantages
TRAXX offers bespoke white label prepaid card programs. Program owners will have control of the back-end administration, enabling them to have full management of their cards.