The Stored Value Card and its cousins, the Gift Card, the Debit Card, and the combination Gift and Loyalty Card, are a runaway success in Canada, the USA, and Europe. Analysts try to predict market size, but the truth is nobody knows when this unbridled success will be challenged. SIT’s approach is simple. Don’t follow the analysts. Don’t follow anyone for that matter. Lead. If you sense that a stored value card, a loyalty card, a debit card or a combination of these is an opportunity for your company, explore it. Do it before your competitors do. At the very least you’ll educate yourself. Be aware, however. The killer applications for the stored value card require marketing skills and imagination, coupled with technical prowess. You supply the imagination and marketing skills, SIT and its partners will supply the rest.
To date, with our partners, we’ve been able to deploy over 130 variations of stored value card applications. You can leverage SIT’s experience with stored value cards and banking software to help achieve your goals. If you have questions regarding stored value cards, debit cards, gift cards or loyalty cards, give us a call.
Portfolio Plus integrates with the various components of your card payment system infrastructure to process data from switch providers, 3rd party ATMs, retailers, and banks.
If you are anxious to find out more about debit and prepaid cards in Canada please refer to our Canadian Debit and Prepaid Technology (PDF) white paper.
Stored Value Cards and Prepaid ATM cards are available for "closed-loop" and "open-loop" applications. These cards can also be specified as reloadable or non-reloadable cards."
The use of debit cards has become widespread and has overtaken the use of the traditional cheque. Customers want instant access to their funds as well as a fast and simple point-of-sale experience. Ensure your organization is maximizing its potential revenue stream by providing your clients with a retail banking debit card. Portfolio Plus enables the management of all your debit card transaction activity.
The business case for stored value cards (i.e. gift cards, coffee cards, phone cards, gas cards, etc.) has been proven time and time again. Stored value cards not only enable quick point-of-sale processing times, but they can be given away as gifts, thereby attracting new customers to your business. Grow your customer base by implementing a stored value card program today.
Loyalty-based card programs have gained immense popularity over the last decade—and for good reason. Customers want to be rewarded for their loyalty and business owners want to increase customer retention. Increase your sales and improve brand recognition by implementing a fully integrated Portfolio Plus loyalty card program solution.
In order to offer your customers PIN-based debit cards in Canada, your organization requires a Bank Identification Number (BIN). If this is something not inherent to your business, SIT recommends pairing up with an authorized financial institution to provide your customers with a solution. The financial institution maintains the cardholder agreement on your behalf, while you develop the look and feel that will reinforce your brand and message—a win-win combination! Contact SIT and we may be able to recommend a partner solution for your specific requirements.
When combined with the Portfolio Plus web banking and retail banking system, your debit card customers are able to access and administer their own accounts online. Free up your tellers and reduce transaction processing times by letting your clients manage their chequing, saving, and line of credit accounts.
The technology and security infrastructure that enables debit card and other payment cards can be complex. Don’t let this complexity intimidate you. Focus on the business plan and your potential added value. Perform your due diligence. Talk to SIT.
This page was created and/or refreshed on April 24, 2017 @ 10:26:24
by Strategic Information Technology (SIT) Ltd., Stouffville, Ontario, Canada
The page subject is: PrePaid ATM and Stored Value Card Administration