Importance Of Co-Branded Credit Cards In Todays Retail Market.
A co-branded credit card is a special form of credit card program that is issued by both a retail merchant and a specific network sponsor. It is premised on the fact that the retail merchant has an outstanding relationship with the specific network sponsor.
A prepaid card is like a top up card. It is not a credit card that gives you a spending limit as long as you can show liquidity to meet your outstanding obligations. In using a prepaid card, a customer tops it up with cash that he or she intends to spend within a given period and when the money is used up, he can choose to re-top it with cash.
An open loop prepaid card has a network logo on it, examples are visa, master card, American express and discover. These cards can be made use of, at any location that accepts that brand.
Visa has its special form of co-branded credit card which has developed some traction in the retail market. It is designed to help retail companies not only increase their sales, but attract new customers, whilst delivering value at the same time.
A reloadable prepaid card, is a type of prepaid card you can add money to and also known as a general purpose reloadable card. Some of this cards start out as a non-reloadable card, but become reloadable once you complete a registration process.
Young teenagers who are not generally eligible for a credit card can get a prepaid card. It can also be used as a tool to encourage a better saving culture in young adults.
How to make use of a prepaid card For people who can't acquire bank accounts, prepaid cards can be a way to manage money and do things like book hotels and rental car reservations, but be sure to use the card wisely to avoid costly fees. Just like credit cards, when shopping you can get things at stores, online shopping or even pay bills so as long as you don't exceed the amount you have loaded onto the card.
The benefits are indeed immense and there is little doubt that in the coming decades we would have a huge spike in prepaid card usage worldwide. The world is changing so are our habits towards money and making payments, it is hoped that there would be effective governmental regulation to ensure that prepaid card providers adhere to best industry practices.
A prepaid card is like a top up card. It is not a credit card that gives you a spending limit as long as you can show liquidity to meet your outstanding obligations. In using a prepaid card, a customer tops it up with cash that he or she intends to spend within a given period and when the money is used up, he can choose to re-top it with cash.
An open loop prepaid card has a network logo on it, examples are visa, master card, American express and discover. These cards can be made use of, at any location that accepts that brand.
Visa has its special form of co-branded credit card which has developed some traction in the retail market. It is designed to help retail companies not only increase their sales, but attract new customers, whilst delivering value at the same time.
A reloadable prepaid card, is a type of prepaid card you can add money to and also known as a general purpose reloadable card. Some of this cards start out as a non-reloadable card, but become reloadable once you complete a registration process.
Young teenagers who are not generally eligible for a credit card can get a prepaid card. It can also be used as a tool to encourage a better saving culture in young adults.
How to make use of a prepaid card For people who can't acquire bank accounts, prepaid cards can be a way to manage money and do things like book hotels and rental car reservations, but be sure to use the card wisely to avoid costly fees. Just like credit cards, when shopping you can get things at stores, online shopping or even pay bills so as long as you don't exceed the amount you have loaded onto the card.
The benefits are indeed immense and there is little doubt that in the coming decades we would have a huge spike in prepaid card usage worldwide. The world is changing so are our habits towards money and making payments, it is hoped that there would be effective governmental regulation to ensure that prepaid card providers adhere to best industry practices.
About the Author:
The advantages of having a Visa co-branded credit card cannot be over emphasized. In this age of competition amongst retailers, having a co-branded card program is one way to stay ahead of your competitors, whilst rendering the best services to your customers.
Comments
Post a Comment