When you think about a prepaid card, what comes to mind? You might be wondering if people still use prepaid cards in a day and age saturated by credit cards. You might be surprised to know that you actually carry a prepaid card in you pocket in the form of a travel, gift rewards or company expense card. Chances are, if you are living in Sydney, you are one of the 3.7 million people that own and actively use an Opal card for travel. We simply never think of the mechanics behind how this card, or other prepaid card works.
Here at Vasco Pay we think it is time to shine a light on the humble prepaid (or general purpose reloadable) card. We want to showcase the variety of ways prepaid cards have been powering payments for businesses, governments, and a wide variety of consumer initiatives.
Incentives and rebates
Healthcare and Insurance
Public Benefit & Welfare Programs
Pension, Social Security
Payroll and Incentives
Public Transport Cards