Pre-Paid and Stored Value
This solution is meant for financial institutions who wish to provide pre-paid and/or stored value cards as an in-house managed service. In this scenario, the balance of the cards would be established at a predetermined value and decremented upon usage unlike an ATM or debit card whose card limits would normally be refreshed upon each new business day. Cards could also be established where funds could be reloaded to the card.
SWITCHWARE® controls the direct interfaces required for the external authorization gateways like MasterCard or Visa. Backend card management functions are provided by the pre-paid and stored value card system.
- Acquirer processing
- Issuer processing
- Magnetic stripe support
- EMV smart card support
- Card balance decrementing without daily cycling for pre-paid
- Card balance decrementing and reloading as deposits are made to the card
- In-house autonomy and control
- Improved customer dispute resolution
- Faster speed to market
- Enhanced CSR knowledge
- Improved customer support services