A business requiring a prepaid card programme can either use an existing generic programme or a bespoke programme can be designed including the card scheme, the brand, the methods for loading funds onto the cards, the maximum amount which can be loaded, specific business rules for usage and reporting requirements.
The individual cards can either be distributed directly to the users (in the case of consumer, public and corporate cards) or via the corporate (in the case of employee cards).Security is maximised during the distribution process as the cards can be activated on receipt and funds transferred at a later date.
Funds can be loaded onto the cards by a number of methods depending on the specific programme requirements.These include over the counter at payment networks, via bank transfer, via a web interface and at a bank branch. The cards can be loaded individually, usually the case for consumer cards, or bulk loads can be made to an account from which individual cards are loaded with specific amounts.
Once loaded with funds the cards can be used to purchase goods and services at physical points of sale, on the web for e-commerce payments as well as being used to withdraw cash from ATMs. The cards can be used in the UK and internationally.
The cardholder can check their balance through a web site and via text messages as well as being able to view their spending history on a web site. Businesses using prepaid cards to provide new payment services to their customers can track the growth and usage of the new service through easily accessible online reporting. In the case of corporate and public sector services each portfolio of cards be tracked and managed through a web interface.