Prepaid card 1
What You Should Know About White Label Prepaid Debit Cards
October 23, 2017
Prepaid Purchase Card 1
Technological Advancements in Digital Payment Solutions
December 6, 2017
Show all

What You Need to Know about Prepaid Cards

Does your business have employees who travel frequently? Do you have business dealings around the world? Are you simply looking for an easy way to pay your employees or contractors for their services? If so, your business would benefit greatly by finding a digital payment solution to help move your business to the next level: corporate prepaid cards! Read on to learn facts about these cards and why it would be beneficial for your business to make the switch.

Lower Operational Expenses for Your Business

By using corporate prepaid Mastercard to pay your employees as well as outside contractors, your business will save time and effort by avoiding check processing and extra paperwork. You’ll be able to seamlessly transfer money anywhere in the world in a matter of minutes. Conventional banking processes, such as regular paychecks, cost much more on a day-to-day operational basis. By using prepaid cards, you will lower your operational expenses, and in turn, increase your overall bottom line.

Employees Can’t Overspend

Unlike a debit or credit card, prepaid cards allow the user to spend only the amount that is loaded onto the card and not a penny more. If you have employees travel for business frequently and don’t want to have to worry about the amount they’re spending, simply give them a prepaid card to take care of expenses while traveling. You can easily budget travel expenses, and your employees will know exactly how much they are allotted for the trip.

Immediate Availability of Funds

Corporate prepaid cards are very convenient not just for your business, but for anyone you pay around the world. The funds are available almost instantly and are completely secure.

Not only is this feature great for global payment solutions, but it can be used locally as well for promotions, incentives, commissions, and more. You will, of course, be able to control the amount of the incentive, and it can be used as a gift card, travel voucher, or rewards program for your employees. Everyone wins; they’ll get the payment or reward quickly, and you don’t have to pay any extra processing fees.

No Credit History or Bank Account Required

When someone receives a prepaid card or is listed on an account, no background information is necessary for that specific individual. If a person has bad credit and wouldn’t be able to open a bank account otherwise, they are still able to keep and manage their money on a prepaid card.

Even if a person is able to open a bank account without a problem, having a prepaid card where money can easily be loaded won’t add any complications to their finances. There is no need to get any bank account information from your employees in order to do direct deposit, and you won’t have to go through the hassle and expense of distributing paychecks.

Other Cardholder Benefits

Money is easily transferred worldwide onto prepaid cards, and cardholders also have the option to get cash from any ATM if needed.

As a prepaid cardholder, you won’t have to pay any additional fees for retail purchases. You can also access the amount on your card at any time by checking your account on the mobile app. Support is available at all times should you run into any problems with your card.

MyChoice Brand Features

With the MyChoice brand corporate prepaid cards, standard features include the following:

  • MyChoice Preferred Mastercard
  • MyChoice business portal
  • MyChoice email and text alerts
  • MyChoice cardholder website
  • MyChoice mobile app
  • Interactive voice response access

The process of opening an account couldn’t be simpler. With MyChoice Preferred cards, you can make an account quickly and easily, then credit funds into your account electronically. Then, you’ll be able to add other cardholders onto your account, such as your employees or anyone around the world you need to pay. Once on your account, they stay there unless you remove them. Payment distribution is quick and secure.

Those on your account will have both a physical card and a virtual card account. As a business owner, you will have access to an administrative option to track all of your spending and allotments on each account.

Manage your money easily with a MyChoice Preferred account and give your business the advantage with very little effort on your part.Prepaid cards make payment processes much easier, and your employees and contractors will enjoy the convenience as well. As a result, productivity is likely to rise.

Leave a Reply

Your email address will not be published. Required fields are marked *