There is currently an explosion in stored value card technology. Stored value cards, also called prepaid credit cards, are very much like bank debit cards, but without the checking account features of that are normally tied to a bank debit card.
A couple of years ago, stored value cards with the Visa or MasterCard logo were primarily used by consumers as an alternative to a secured credit card or a bank account. You can usually get a prepaid Visa or MasterCard with only an identity check and no credit check. Additionally, businesses started to use stored value cards as an alternative to issuing payroll checks. Stored value cards allow for direct deposit without the employee cardholder having to have a bank account.
Now business are using stored value cards with the Visa and MasterCard for more than just payroll. The prepaid Visa and MasterCard are now becoming very popular as gift cards. Businesses are using the stored value cards as incentives for customers to buy products or even to refer-a-friend or as a rebate card. The cards are also being used for incentive payments to sales persons and as rewards cards for employees. Find out more about How Stored Value Card Technology Can Help Your Business.
Electronic Cash News Related Links: Stored Value Card Technology For Businesses | Consumer Prepaid Debit Cards | Electronic Cash