In recent years, chip card and magnetic stripe prepaid debit (stored value) cards have become a fast-growing and convenient way to access funds, make purchases, and complete payments via American Express®, Discover®, MasterCard® and Visa® cards, ATM networks, private networks, and the Internet. Combining the convenience and acceptance of debit cards with the simplicity of cash means prepaid debit cards have limitless possibilities. They’re safer than cash, more convenient than checks, and easier to obtain than credit or debit cards. Indeed, prepaid debit has the potential to radically impact the manner in which organizations deliver value and conduct business today.
Prepaid cards represent an opportunity for financial institutions to further capitalize on the growth of debit cards, which have surpassed credit cards as the most popular form of electronic payment (by transaction volume). Both chip and mag stripe prepaid cards provide a growing source of non-interest income portfolios, attract new customers, and strengthen existing relationships. Additionally, the unique nature of prepaid cards provides a channel to non-traditional and under-banked market segments – extending your reach into the marketplace.
Complete, End-to-End Open-Loop Prepaid Solutions
FIS understands that you need a dynamic payment card program to meet the evolving needs of the prepaid marketplace. As the largest and most comprehensive provider of open-loop prepaid card services, FIS is at the forefront of this trend, providing robust, end-to-end solutions for development, processing and administration of prepaid programs. Our end-to-end prepaid processing solution includes everything from account set up and management, card production and personalization, inventory management and customized distribution solutions, transaction processing, fraud detection and prevention, funds settlement, call center and IVR/VRU customer service, dispute processing, detailed reporting, to Web hosting services.
Whether you need a prepaid card solution for business or consumer use, feature-rich, end-to-end, market-ready programs from FIS provide you with affordable, easy-to-implement prepaid card programs that can start producing results quickly. FIS systems and services support multiple types of open-loop distribution models for financial institutions, resellers, commercial entities, retail and government. And because FIS prepaid cards are “open-loop,” they are accepted at millions of merchants worldwide – an important distinction from other providers offering closed-loop, single retailer prepaid solutions. Our programs are certified by Visa, MasterCard, Discover and China Union Pay. And, by virtue of our wholly-owned NYCE Payment Network, your prepaid program can include fund access and PIN payments at hundreds of thousands of ATMs and millions of point-of-sale locations worldwide.
Turn to the Leader
With over 200 million cards on our domestic and international platform, processing over 900 million transactions annually, supporting thousands of individual prepaid programs for our customers and boasting a significant international presence with cards issued in more than 36 countries and 14 currencies – FIS is clearly the world’s largest prepaid processor.
FIS is focused on delivering best-in-class prepaid solutions that are scalable, reliable, and comprehensive – supported by customer care excellence. Our integrated solution provides uncommon value to financial institutions, giving you the tools you need to easily integrate our prepaid solution into your existing operational or servicing tools. Superior integration means superior support and reduced expenses.
FIS Chip Cards ‒ Reduced Fraud , Greater Security and Peace of Mind
FIS offers the most up-to-date technology including prepaid chip cards. Chip or “smart” cards are fast becoming the global financial industry’s best practice in card security. That’s because the cards carry microprocessors that generate dynamic authentication values for each transaction while magnetic stripe cards carry static account information that can be stolen and used. Generating new authentication reduces the value of stolen cardholder data creating a global win-win for cardholders, financial institutions, retailers and other card issuers.
For more information about Prepaid Card Products, call us at 800.822.6758 or use the button below to email us.