BVIRTUAL Prepaid Card
Overview
Visa Prepaid cards have all the benefits you would expect from Visa and are simple and convenient to use — even if you do not have a bank account or an established banking history.
With a Visa prepaid card, you can only use the amount loaded onto it, which helps to control spending. Prepaid cards are a safer alternative to gift vouchers, checks or cash and can be used at millions of shops and other outlets around the world.
Simply request a card, provide the money to be loaded on to it - and it is ready to use.
The Program
The BVirtual program brings a distinctly differentiated product and related services to the market.
The BVirtual Prepaid Card is designed to link internationally accepted Visa Virtual Prepaid Cards to mobile money. This means that customers or users of the program will be able to acquire valid virtual MasterCard / Visa cards (accepted globally by online merchants) via a mobile application, satisfying all KYC and industry security requirements.
The card concept provides an important added security intervention that insulates cardholders from the know risks of card transactions. Due to its prepaid nature, traditional and actual bank accounts of customers are not involved during transaction processing. Funds are loaded onto the virtual cards ahead of any purchase or transfer transaction.
Value Proposition
Real-time issue improves cash flow
The Quest for “immediacy”. Bvirtual cards are issued, funded and delivered electronically in real time, almost at zero cost, transforming users and businesses’ cash flow management.
Frictionless user activities
Since reloading the virtual card doesn’t require access to physical financial institutions for funds. Besides the typical card use, a whole new world of payments and financing possibilities (Remittance, Payroll, Disbursement) become possible.
- Educational support (Pocket money)
- Social intervention support (Health, pensions, scholarships)
- Ad-hoc payroll delivery for casual work
- Employee reward schemes
- Emergency relief support
- Simplify business and leisure travel financing
- Prompt and easy payout of insurance claims
Fine-grained card control and user management
At the time of issuing, clients have instant control over card use through a time-validity window that enables value updates, cancellation, and user-defined use life-style patterns.
Pay for your trip
Bvirtual card enables you to keep your travel expenses separate from your other expenses. It also offers an easy and safe alternative to carrying large amounts of cash for people who do not have a traditional bank account or an international payment card.
New Customer acquisition opportunities.
The bank with the Visa Virtual Prepaid Card issuing BIN will acquire more customers through mobile money subscribers who ordinarily will not be required to have an account with the bank to own a Visa Virtual Prepaid Card. A potential group are the tertiary, secondary institutions and customers in the middle income bracket and below.
Revenue Generation
Provides additional revenue streams through increased transaction activities on highly sought after m/e –commerce commodity platforms.
Value added services
Other values added services such as creating co-branded Visa Virtual Prepaid Card programs and closed looped virtual loyalty initiatives will open up the opportunity to drive virtual gift cards with shops and stores and other e-commerce syndication opportunities.