What Are Prepaid Cards?
Prepaid cards are broadly defined as any network branded (Visa, American Express, Mastercard or Discover) card that contains a stored balance. These cards are commonly referred to as “open-loop cards” because they can be used most places where the logo of the payment network is accepted. Most consumers are not aware of how large the prepaid card market in the US has grown—in 2017 there were over $325 billion issued in prepaid cards alone. Prepaid card growth in the United States is forecasted to increase by 2% through 2023, reaching a total of $402.8 billion according to an article by Business Wire.
Common types of prepaid cards include cards that are often found on supermarket shelves (e.g. Visa gift cards, Visa Vanilla, Vanilla One, American Express gift cards and MasterCard gift cards); rebate cards used by various companies to provide incentives to consumers (e.g. Sprint rebates, Verizon rebates and Comcast rebates); and payroll cards used to pay employees or provide them with incentive bonuses. These types of prepaid cards all come with different rules limiting where and how they can be used, as well as what types of annual and monthly fees are associated with them.
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Starting Your First Prepaid Card Transaction
To start a new transaction, click on the New Transaction button on the bottom of the user dashboard. On the next screen, select Prepaid Card. This will bring up the Prepaid2Cash card scanner, that uses your mobiles device's camera to scan your card. ...My Prepaid Card Is Not Scanning. What Should I Do?
If your prepaid card is not scanning, try to find an area with good lighting and start a new transaction. Hold your prepaid card in front of your phone's camera and make sure the corners of the card align with the green corners on your screen. Be ...How Much Does A Prepaid Card Transaction Cost?
Prepaid2Cash is the lowest cost and fastest delivery option possible for obtaining cash for your prepaid cards. Pricing is based on how fast you would like your funds delivered. See below for our current delivery options and their respective price: ...How Much Will I Get For My Prepaid Card?
Prepaid2Cash is the lowest cost and fastest delivery option possible for obtaining cash for your prepaid cards. How much you receive is based on how fast you would like your funds delivered. See below for our current delivery options and their ...Do You Accept Virtual Cards?
We do accept virtual prepaid cards. In order to complete a transaction for a virtual card, you will need to do the following: Select a prepaid card transaction Leave the card scanner open for 20 seconds - this will prompt manual card entry Enter ...