Prepaid Resources was formed in early 2007 by a group of independent prepaid debit card industry pioneers instrumental in developing and managing many of today's leading solutions. In short time, Prepaid Resources has established itself as a recognized leading resource provider for the prepaid debit industry offering a suite of innovative services benefiting all levels of the value chain: CONNECTIONS™ card program support groups and industry advisory council, PEARLS™ provider referral listing service, PORTABLES™ shared managed applications and INDUSTRY INSIGHTS™ prepaid card industry education.
Utilizing Prepaid Debit
Prepaid Debit, also referred to as “Stored Value”, is an alternative to traditional paper-based transaction systems. Closed-loop applications operate on a privately-controlled authorization environment. Open-loop applications utilize established payment networks such as Visa, MasterCard, American Express and Discover and can be used anywhere debit cards are accepted worldwide, including the Internet and ATMs. Prepaid debit applications cover practically the entire corporate, financial and consumer spectrums including healthcare, payroll, government, insurance claims, incentives, consumer promotions, teen, unbanked and gift. Although the industry is still relatively nascent, it is one of the fastest growing and emerging payment tools in the financial services market place. The benefits are vast. Prepaid Debit provides businesses with new revenue streams, reduced costs and increased branding, with added “touch-points” to consumers or employees to create motivating incentive, promotion and relationship building. As a financial tool, it opens the door to a large segment of society that lack traditional banking relationships and was previously unable to access financial products – the so called unbanked, underbanked, underserved or credit-challenged.
Prepaid Resources’ Role in the Value Chain
Prepaid Resources serves both card marketers and their supporting program managers. For the marketer (the party driving the opportunity), Prepaid Resources helps bridge the knowledge gap with industry education, advisory services, program planning and provider referrals. As pioneers of this rapidly emerging business, our team does its part to unveil the intricacies of prepaid. The better educated the market, the narrower the gap becomes between expectations and deliverables, thereby yielding a healthier and more vibrant industry. Prepaid Resources supports its network of member program managers with card program support groups, portable component technology and marketer leads.