Smart2Pay - Prepaid cards

Prepaid Card Programms

Smart2Pay^TM can assist your organization in setting up and administering a prepaid card program. We help select the program best suited and the easiest for your organization to administer.

Who

Some organizations issue these cards to compensate independent sales agents, others to reimburse their travelling sales employees. Trusts with many beneficiaries have started using stored value cards as a cost effective way to distribute funds. Various ethnic, professional and labour groups have begun to sponsor the cards for their members. And, some merchants have issued cards to their valued customers as a way to build loyalty and simplify the payment process.

What

Think of the stored value account as a "check-less checking account". The Bank will issue a magnetic stripe card issued. The card is available in two forms: the ATM-PIN Based or the MasterCard Debit Card and Visa Electron Debit Card.

Deposits

1. Your organization can credit the cardholder's account.

2. Cardholders can add value to their account through deposits made at any one of 50,000 MoneyGram agent locations worldwide, bank wire transfers, or credit card. Funds will normally be available the following business day.

3. Cardholders can call and request an Automated Clearing House (ACH) transfer into or from their stored value account.

Withdrawals

1. The card can be used to withdraw cash from ATMs on the Star or PLUS networks worldwide.

2. The card may be used to make purchases at millions of retail locations around the world that accept debit cards.

3. Cardholders can safely use their account on the Internet with merchants that are subscribed to the system.