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What Are the Differences Between Prepaid Card Types & Uses?

Prepaid cards divide into two families: open-loop cards carry a payment network brand and work anywhere that network is accepted; closed-loop cards are restricted to one merchant or group. Within open-loop, the distinctions that matter are reloadable versus single-load and whether restrictions apply. Thanks to their versatility in rewards and various programs, prepaid cards have become widely popular. Yet, many people are unaware of the range of prepaid card types and their uses. These cards provide a simple, adaptable payment solution for both individuals and businesses. Convenient? Absolutely. Most cards either fall into open-loop cards or closed-loop cards. A person can use open-loop prepaid cards nearly anywhere. Closed-loop cards have restrictions on their uses, such as only being usable at specific stores, networks, or services. Understanding how these prepaid cards differ helps ensure you choose the ideal option. Here are some of the most popular types of prepaid cards. General Purpose Reloadable (GPR) prepaid cards are extremely flexible. These prepaid card types typically load funds from multiple sources, including direct deposits, cash reloads, and bank transfers. GPR cards are ideal for everyday use. The cardholder owns the funds and can use them with very few restrictions on how to spend their money. […]

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Live Well Reward ™ Card – Health Reward Card backed by VISA

Health and wellness incentive programs have been proven to be an effective way to create a healthier, more productive workplace. One of the most popular ways to reward health and wellness program participants are with Health Benefit Cards ie. prepaid rewards cards. These cards are popular because of their ease of use, perceived value, and universal acceptance. Additionally, health and wellness incentive programs that use prepaid cards for their rewards show high levels of engagement amongst participants. A quality health and wellness incentive rewards program management company can create fully customized and branded rewards cards for your company’s health and wellness incentive program. At All Digital Rewards, we recognize and appreciate your commitment to improving your participant’s health and wellness. With our Live Well Reward ™ card you can go beyond traditional health reward cards. Live Well Reward ™ cards allow you to reward your health and wellness program participants as they complete program objectives, such as check-ups, screenings, or wellness visits. Each time participants complete their objectives, cash will be added to their Live Well Reward ™ card, which they can then spend like using a debit card. We partner with Visa® to offer a wide variety of prepaid […]

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Include a Prepaid Reward Card as the Incentive When Creating an Award-Winning Consumer Promotion

Consumer sales promotions are a great way to entice consumers to purchase a product – does your incentive reward provider offer Prepaid Rewards Cards?  Did you know that prepaid Rewards Cards are known to be one of the top preferred reward types for consumer incentive programs? There are lots of reasons why consumers love prepaid cards and a quality prepaid reward card provider can help take your next consumer promotion to award-winning levels! But what are the real benefits of using VISA prepaid incentive reward card in you consumer promotions? The main benefit of a Prepaid Card is that the branding of the card can mirror your company. Why is this such an important factor as a business? It’s simple! This is a fantastic brand awareness tool and also encourages your consumers to keep coming back for more! While Prepaid Cards may be a great option for your Loyalty Program, there are several important details to consider, for example: These cards are super simple to become accustomed to, but it’s important that the cards are loaded and ready to activate the second your customer opens it. People want instant gratification. This also ensures that the customer will not have to deal […]

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6 Things to Expect from Your Reward Card Vendor

The incentive industry has undergone a complete transformation since gift cards,and prepaid cards hit the scene. Case in point – reloadable prepaid cards have become the favorable choice amongst not only incentive providers, but also participants being rewarded. Why? Who doesn’t enjoy utilizing instant currency right at the tips of their fingertips versus waiting on a check in the mail? Or what incentive provider doesn’t like low-cost incentives and higher engagement, which translate to more saving more $$$? Exactly. Incentive purchasers are counting on vendors to establish an Incentive Plan that clearly identifies the best prepaid card and gift card solution for consumer, employee and Channel Sales incentive programs. What should you expect to be on your vendor’s radar in order for them to help you develop that best prepaid incentive plan strategy? Below are six things to expect from your prepaid provider: Partner with a vendor who knows their stuff. A currency provider should have an extensive reward portfolio, vast knowledge of prepaid reward options available or up and coming options, along with a great strategy that works for what your participants want. A prepaid card provider should be able to offer you: The Platform and Reward Mock Up […]

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The Ezeprepaid™ Visa Prepaid Card and Ezeprepaid™ Visa Virtual Account are issued by The Bancorp Bank, N.A.; Member FDIC, pursuant to a license from Visa U.S.A. Inc. Purchase, acceptance or use of the card constitutes acceptance of the Cardholder Agreement and Virtual Accountholder Agreement. The Visa Virtual Account may be used for electronic commerce, mail order and/or telephone order transactions everywhere Visa debit cards are accepted. The Visa Prepaid Card may be used everywhere Visa debit cards are accepted. The Bancorp Bank, N.A. does not endorse or sponsor, and is not affiliated in any way with this offer.