Getting Down to Business: How Financial Institutions Can Attract and Retain Business Clients with Reloadable Cards
February 01, 2011
Prepaid cards are the fastest growing of all electronic payments with transactions increasing more than 20 percent annually over a three-year span. And reloadable cards represent only one of the many ways companies can use prepaid cards to improve – and even grow – their businesses.
By issuing reloadable cards for an employer, Financial Institutions become an indispensable partner to the business. Not only do they ease some of the administrative time and hard-cost issues inherent to payroll management, they give the business a way to endear itself to its employees. Reloadable cards save employees’ time and give them the features of a traditional Visa debit card without the risks of overspending.
To grow business from business relationships, a credit union or community bank must demonstrate its ability to ease day-to-day operations so that the company’s leadership can focus on its own growth. Among the more burdensome of these operations is the management of payroll – a system that can be greatly streamlined with the use of reloadable cards.
TMG-Reloadable Cards and Financial Institutions-Study