Why Prepaid?

Is your business looking to drive sales, loyalty and brand awareness?
Are you looking for an efficient, scaleable payroll or expense management solution?
Want to reward staff and clients?
Your own-brand prepaid card programme could be the answer.

What is prepaid?

Prepaid cards are similar to credit or debit cards. They are safe to use and are widely accepted online, in stores, restaurants, cinemas…just about anywhere! The difference with prepaid is that the card is pre-loaded with cash. This means that:

  • Users can only spend the amount that is loaded onto the card
  • A prepaid card can’t go into debt
  • There are no interest charges or APR
  • A prepaid card is not linked to a bank account or credit card details

How can prepaid benefit your business?

  • Customer profiling: Gain insights into your customers purchasing decisions and patterns. What they spend, when and where…
  • Enhance brand awareness: Cards can all be fully branded and will enhance your brand/name recognition. You will also be aligning your business with the high profile and well-regarded MasterCard® brand.
  • Reward customer/staff loyalty: Enhance existing relationships, offer rewards and incentives, create loyalty clubs.. the possibilities are endless
  • Customer acquisition: Tap into new and lucrative market segments – those who are anxious about shopping online, those who are new to the UK, those who don’t have a bank account. Prepaid cards can make your business more accessible
  • Lucrative revenue source: Whilst relatively low cost to set up, prepaid cards can generate additional revenue through usage and transaction fees.
  • Payroll and expense management: Eliminate much of the administration associated with internal processes.

Who is prepaid for?

  • Prepaid cards are safe, secure and convenient. They can be used by anyone - for example those who:
  • shop online but are anxious about security when using credit cards or bank cards
  • are unable to get a traditional credit card or debit card
  • are new to the country and don’t have a bank account
  • want to keep a close eye on their spending (or someone else’s)
  • want a safe, yet flexible, way to give pocket money to teenagers
  • want to set aside some money from their bank/credit card

Opportunities in prepaid

There are many different types of prepaid card programme and IDT Finance will be able to ensure yours is aligned closely with the requirements of your target audience. Sample programmes include:

  • Everyday general spend
  • Travel
  • Payroll
  • Salary payment
  • Gaming
  • Youth Cards
  • Gift Cards
  • Corporate Incentives
  • Corporate Expense
  • Government & Benefit Payment
  • Remittance
  • Insurance Payout
  • Staff rewards
  • Client Thank-Yous
  • VIP/Loyalty Cards

IDT Finance is the trading name of IDT Financial Services Limited, which is a regulated bank, licensed by the Financial Services Commission (FSC), Gibraltar, under the Banking Act 1992. Our cards are issued under licence from MasterCard International. MasterCard is a registered trademark of MasterCard International Incorporated.