UltraPoS in the Pre-Paid Card Market
Pre-Paid debit cards are set to be the 'Next big thing' in the world of finance.
With its ability to manage itemised inventory across multiple locations and connect seamlessly to issuers' activation and back-office systems, UltraPoS is the natural choice to automate pre-paid card programmes.
Following are some details of the types of cards that are becoming available and that UltraPoS is supporting.
Travel Funds Cards
Both the major travellers cheque issuers, as well as a number of smaller players, have recently launched plastic cards that they hope will eventually supersede their paper products.
These cards combine the familiarity, ease of use and wide acceptance of a debit/ATM card with the security, flexibility and additional services (such as 24 hour replacement, passport/medical services etc) offered by travellers cheques and their issuers.
SCL are working with both American Express and Travelex automating the sale & activation of their respective cards in various markets around the world.
Gift Cards
Another major application for pre-paid cards is the world of gifting. Following the lead of the US, gift cards are set for massive expansion in the UK & European markets.
Once again replacing existing paper products such as gift vouchers & book tokens, gift cards are a natural progression and an attractive option both for retailers and their customers.
Already widely used in the US gift card market, processing millions of cards a year for some of the largest shopping malls, UltraPoS has recently been chosen for the launch of a new European gift card.
Other Applications
In coming months a wide range of different uses for pre-paid cards will be reaching the market, including employee incentives, hybrid loyalty and promotions programmes as well as the expansion of the gift card arena.
Needless to say, SCL are bringing their depth of experience in card processing to enable many of these initiatives.