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What You Should Know About White Label Prepaid Debit Cards

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White label prepaid cards offer a unique solution for companies looking to launch and promote their own prepaid solutions. Instead of developing software and merchant accounts, and obtaining the necessary licenses, businesses can simply apply for an already-established program. Because the terms, conditions and portals are already up and running, it’s easy to implement the prepaid solution and integrate it into any business model. While these custom prepaid cards are all ready for use, it’s still important to have a basic understanding and knowledge of them.

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The Process

While implementation of your new prepaid card service is easy, the process may take some time. Besides the initial application, the issuer of your cards has to review your business profile and grant approval. From start to finish, it usually takes a few months for a new prepaid card service to become activated. If you’re thinking about embarking on this new business venture, it’s beneficial to start sooner rather than later. With the help of WaveCrest, you can begin the process and have your new white label prepaid card in your hands quickly.

Fully Customizable

One of the biggest draws of white label prepaid cards is their ability to better represent your brand. White label cards can be embossed giving you the opportunity to put your company name, logo, or slogan on the front of the card. These unique, branded cards can be given out to employees, clients or as a financial solution for customers. No matter who is using your prepaid cards, it’s an excellent way to boost your brand recognition and bring in more business.

No Experience Necessary

When launching your own prepaid card product, you may assume that you need some sort of financial experience. With white label card programs, no experience is needed. The coding, development, and financial specifications have already been set up by WaveCrest. Day-to-day management and logistics aren’t something you need to worry about. Whether you need to troubleshoot a card or have questions regarding a rewards program, a team of specialists working behind the scenes ensures that you receive the solutions needed without having to do the hard work.

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Create Your Own Program

A white label prepaid service isn’t a one-size-fits-all program. Different businesses are looking for different features. Some companies wish to collect more revenue by charging fees each time customers use their card. Others prefer to limit fees. With a white label card, you have the freedom to create your own fee schedule. On top of establishing which fees your users will be charged, you can also set up a revenue sharing program to ensure that all owners of the program are properly compensated.

Effectively Monitor and Use Your Data

Once your prepaid program has launched, WaveCrest will monitor the use of your cards. Not only will the spending patterns and merchant classes be carefully tracked—the information will also be compiled into an easy-to-read report. By reviewing this information regularly, you have the opportunity to adjust your prepaid service and market it to different individuals. Correctly utilizing your data will put your card in the hands of more users and expand your prepaid business.

Increased Loyalty

With your new prepaid card service, you have the opportunity to establish various rewards programs. You can create your own program or partner with other businesses to offer incentives, points and other various forms of rewards. By creating a rewards program, you build brand loyalty. Customers are more likely to use your white label card if they’re working toward a reward. By opting for a white label service, it’s easier to coordinate these rewards, track them and develop new strategies to help your business grow.

There are numerous benefits to starting your own prepaid card service with WaveCrest. To ensure that you’re choosing the right provider, consult with the experts. WaveCrest is proud to offer expert assistance to clients and prospective customers. With offices located around the world, receiving support is quick and easy. Whether you have questions regarding white label prepaid debit cards or you’re looking to start the application process, allow the professionals at WaveCrest to help.

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