Government Prepaid Card
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Government Prepaid Card PowerPoint PPT Presentation


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Government Prepaid Card. Presented by: Bank of America. Why choose the Government Prepaid Card?. Reduces expenses associated with disbursement activities Effective tool to achieve charge card delinquency goals Offers a tool to improve management oversight of programs and processes

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Government Prepaid Card

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Government prepaid card

Government Prepaid Card

Presented by:

Bank of America


Why choose the government prepaid card

Why choose the Government Prepaid Card?

  • Reduces expenses associated with disbursement activities

  • Effective tool to achieve charge card delinquency goals

  • Offers a tool to improve management oversight of programs and processes

  • Population of non-charge card travelers increasing

  • Offers an immediate, reliable funding source

  • Offers immediate load and unload functionality

  • Leverages commercial charge card controls

  • Authorization controls available

  • 24 hour on-line WEB and live customer service


Product offering and servicing capability

Product Offering and Servicing Capability

  • The prepaid product is a non-chip, magnetic stripe card without the extension of traditional credit.

  • Provides ability to issue Visa or MasterCard branded cards and pre-fund the card account for the purchase of goods and/or services.

  • Value decreases as spending occurs.

  • Product allows for additional dollar value to be placed on, or removed from the card.

Annual Servicing

  • Monthly online Statement

  • 24 / 7 Customer Service

  • Cardholder Web Access

  • Program Manager Web Access

  • Electronic Reporting

  • Fraud & Lost Card Protection

  • New account set up

    • Plastic/Plastic Printing

    • Card Mailers

    • PIN / PIN mailers

  • Disputes processing


Government prepaid card funding

Government Prepaid Card Funding

  • Funding Options include:

    • ACH Debit (On-Us)

    • ACH Debit (Not-on Us)

    • ACH Credit

    • Charge Card (Bank of America CBA)


Control features

Control Features

  • Reporting (transaction history, card balances, audit report, value load and unload, residual balance)

  • MCC Controls

  • Merchant authorization spending controls

  • Merchant blocking controls

  • Online transaction history

  • Card Cancellation Functionality

  • Ability to view all cardholder balances within a hierarchy point


Acceptance

Acceptance

  • Visa or MasterCard Card:

    • Accepted Everywhere Visa or MasterCard is accepted

    • Credit Card Bank Identification Number (BIN)

    • Includes acceptance at rental car agencies

    • Can be used in any ATM with applicable network access


Ease of maintenance

Ease of Maintenance

  • Clearing Negative Balances

    • Why negative balance?

      • Paper Transactions

      • Forced Authorizations

      • Timing Issues

    • Options for Cardholders to Clear Negative Balances

      • Personal Charge Card

      • Personal Debit Card

      • Personal Check

      • Agency Value Loads More Funds


Issuance options

Issuance Options

  • Cardholder name embossed on the card

    • Cardholder would receive the card much as he/she would receive any other kind of payment card (7-10 business days from enrollment)

    • Expedited cards available for a $20 fee

  • Generic Cards

    • Card can be embossed with generic names

    • Single cards can be used by multiple cardholders


Personal prepaid overview phase 2

Personal Prepaid – Overview(Phase 2)

  • Debit Card Bank Identification Number (BIN)

  • Provides ability to issue Visa or MasterCard branded cards

  • Can be used in any ATM with applicable network access

  • Offers an immediate, reliable funding source

  • Authorization controls available

  • 24 hour on-line WEB and live customer support

  • Cardholder names can be embossed on the card

  • Instant issue cards without names embossed

  • Flexible funding options: CBA or DDA

  • Supports Hierarchy level reporting


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