The Challenge
Creating an advantage in the prepaid card sector amongst ever increasing competition is becoming more and more difficult. Coupled with consumer expectation to use financial products however and wherever they want, having the infrastructure to rapidly expand your offering is essential.
The Freemarket Solution
Freemarket’s Managed Banking Platform gives prepaid card programs that the ability to send and receive payments in over 30+ currencies to over 100+ countries without the need for local market addresses. Combined with the wholesale currency exchange rate, opportunities for efficiencies and opening new revenue streams are abundant.
Freemarket has the flexibility to plug into the Prepaid card stack at any point with a single API. Card programs can connect directly, giving their customers access to cross-border payments and currency exchange facilities in their own names via Freemarket’s network of global banking partners and suite of vIBANs. Alternatively Processors or Issuing Banks can make the connection earlier in the chain, bringing access to a global payments network to multiple card programs simultaneously, whilst keeping reconciliation simple and under control.
