Consumers purchase a number of goods and services with the help of varying payment methods that are available in today’s world. These methods of payments include a range of debit cards, credit cards, checks, cash, bank drafts, money orders, and prepaid credit cards. So the question arises that what are prepaid credit cards and how can your business benefit from them? Keep reading to find out.

What Are Prepaid Credit Cards? Prepaid credit cards are not genuine credit cards as there is no money lending applicable here. A prepaid card is simply a means of using the money that you have within your account via a credit card without overspending your account finances.

Co-branded Prepaid Cards. Some companies provide their customers and employees with the opportunity to apply for a co-branded card, on which more than one brand logo is symbolized. The brands logos are usually of the business itself, along with the logo of MasterCard or Visa, the two major prepaid card program providers in the world.

Hence, a co-branded prepaid card works as a partnership between the enterprise, the card program provider and sometimes, even the bank where the account has been registered. The card will have as many logos as the numbers of brands that have combined together to produce the card in its current form.

You or your customers can deposit money in to the account corresponding to the card and the cardholder can then use it to make transactions from stores online as well as internationally.

Co-branded prepaid cards are a beneficial investment for your business to make. Following are reasons stating how your business can benefit from the use of a co-branded card:

It is a safe way of making transactions and can easily be used by your customers and employees at all stores worldwide.

– It is a safer means of making purchases and thus, will be used more easily by your customers, increasing profits for your store as well.

A credit card provides the cardholder with immediate access and control to their money, so that they can shop with ease without carrying cash.

As MasterCard and Visa are available worldwide, you can be sure that the card will be fully functional no matter where it is used.

By collaborating with MasterCard and Visa, your employees and customers will be able to make transactions from the card no matter where they might be present, as both these brands have a presence in more than 100 countries in the world. Thus, opting for a co-branded prepaid card is a good choice for businesses everywhere.

All co-branded prepaid cards are a source of any sourceicular card program. The most popular used prepaid card program are of MasterCard and Visa, as they work globally.