As the number of declined credit card applications increases and credit requirements become tighter, a general purpose prepaid card is becoming increasingly necessary for card issuers to offer their customers an alternative to credit, debit, and cash.
Unlike gift cards, the branded prepaid MasterCard® can be spent anywhere that a MasterCard® is accepted as opposed to just the store where it is sold, be used at any ATM where there is a MasterCard® and Cirrus logo, and is re-loadable so is not just a one-off use.
Advantages:
The right card delivery program at the right time for the right opportunity
Provides consumers with a payment alternative to credit, debit, and cash;
Enables Mint partner’s customers to do more via a prepaid program
