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Product and Service Offering
The Prepaid Card
Overview
The prepaid debit card is a flagship product. POS is able to process both branded and
unbranded cards. However, in most markets Visa and MasterCard products are best positioned for wide market acceptance.
The Visa and MasterCard prepaid cards are:
 Fully functional prepaid embossed or un-embossed cards.
Issued by association member banks and processed and supported by POS.
Accepted at over millions of merchant locations and over 1 million ATMs worldwide.
Able to be used online by the cardholder.
Both the Visa and MasterCard unembossed cards:
Satisfy client requirements through multiple applications and loading options.
Provide enhanced issuer control for debit prepaid.
Leverage on new opportunities through almost instant issuance.
Increase the percentage of more profitable point-of-sale and ATM transactions.
The POS processing platform encompasses a complete solution for prepaid debit card
transaction processing. Our card programs acquire BINs from our issuing Bank Partners
required to effect the movement of transactions across the card association networks. The
POS platform creates cardholder account numbers, produces plastics generation media,
including debit card PIN numbers and provides IVR support for cardholder PIN management
and inquiries. The platform also authorizes all POS and ATM transactions presented by the card association networks, and effects end-of-day settlement with merchant banks causing funds movement between cardholder accounts and affected merchant accounts. Cardholder funds are maintained in a settlement account at the issuing bank, and cardholder funds are settled less processing fees and system operator card use fees; those fees are automatically placed in bank accounts owned by each constituent via ACH.
Each system operator seeks to innovate in its market by providing bundled services for
cardholders, such as long distance phone calls, wireless replenishment, healthcare services,
payroll services, and so forth. As a result, proprietary closed-loop integration (APIs) is normally developed between POS and its system operators or their vendors. Due to POS'
focus on stored value programs, it builds the required closed loop integration facilities for its
customers and, once completed, the integration facilities effectively act as a barrier to entry for any competitor seeking to displace POS or its partners.
Only POS provides stored value card program transaction processing services on current
generation technology platforms - providing the flexibility this emerging market requires. Other processors in this market provide stored value transaction processing services as an "also ran" to their core services of providing outsourced banking platforms. Our proactive approach gives its clients the technological edge in this innovative transaction processing market.
POS provides cardholders with a service that combines numerous applications into one
prepaid platform. This synergy has created a product that increases utility, customer retention and revenue per customer. POS offers the following services and card types all of
which can be tied to the prepaid cards:
Debit Card- ATM / POS / Online eCommerce use.
Payroll Card.
Telecommunications.
Affinity Group Cards.
Travel Cards.
Money Remittance.
Student Cards.
Gift Cards.
Loyalty Cards.
Electronic Benefits Payment Card – Government benefits, social security benefits,
pensions, payroll.
Card Loading
POS offers a variety of methods for loading prepaid cards processed on the platform.
Our API enables us to easily and securely connect to new loading partners. The ability to load and reload the cards easily is an important benefit to the cardholder making the card more desirable than other cards in the market. Currently, cards can be loaded:
Via the Internet (card based): The POS API enables cards to be loaded from
anywhere in the world via an existing credit or debit card.
Via the Internet (account based): The API enables cards to be loaded from
anywhere in the world via an existing US bank account.
At retail locations via the various networks tied to our processing platform.
At participating banking institutions.
Batch file load – for payroll and other applications.
Via the Internet via a POS eWallet balance.
Our current loading partners are:
Bank First: Enables cards to be loaded via ACH through our API.
Security Bank: Offers a web-based tool that enables a merchant to act as a payment agent allowing their customers to pay their bills or load pre-paid debit cards.
PAGO/Deutsch Bank "high Risk" card loading via Internet merchant accounts.
Green Dot: Offers over 35,000 retail loading locations throughout the United States.
NEXT: eCommerce acquiring |
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