Simplify the disbursement of funds with security, compliance and control
Physical and virtual prepaid cards are the payment vehicle of choice for customer compensation programs, particularly for large and complex payouts surrounding goodwill, class action, and recall payments.
Visa and Mastercard prepaid cards and virtual cards are easily customized, accepted anywhere in the world and online, and are widely preferred by consumers over other forms of compensation.
Using branded money enhances the payout experience with custom card and collateral design, redemption and claims sites, virtual wallets, cardholder account websites, and more.
With your payments program, configure program parameters to align with both business objectives and reprieve for consumers.
Intermediary funds during recall events
Large scale class action payouts
Auto industry temporary car rental allocations
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Nissan dealerships hand out prepaid Visa cards to promote test drives, drive foot traffic, and reward service techs
With custom branded cards, you can ensure that your brand remains top of mind and top of wallet throughout the entire payment experience. Prepaid payments programs can effectively aid in complex class action settlements with a variety of disbursement and management options, including restricted access cards that can only be used at certain locations.
Direct mail or instantly issue physical prepaid cards with generic, logo or fully customized designs
Email customers a virtual card that has all the functionality of a prepaid card, and that can be used to make purchases online or by phone
Issue goodwill or class action payments on-the-spot when consumers return products in-store
To win back the public’s trust, Volkswagen disbursed $100MM to consumers affected by it’s 2015 emissions scandal.
As you work to issue innovative solutions for your settlement payments, consider setting the parameters of your program within Campaign Manger to ensure all requirements have been met.
Create geographic-specific parameters for settlements that fall within a specific region allowing consumers to spend the card within that region
Limit card load maximums for instant issuance capabilities to ensure that the right people are getting the right money
Restrict MCC codes for programs that require/allow for consumers to spend the settlement funds at merchant category specific locations
Dive into a trove of data points to gain valuable insights about consumer behaviour and post-settlement activity
With prepaid card programs, you can track the lifecycle and card activity of each card issued allowing you to follow spend behaviour, transaction data and use it to inform future programs
Employ Insights to see where consumers spend their settlement funds, and use this data to form strategic partnerships
Restrict consumers who receive fully custom cards spend their goodwill or settlement money with your brand versus those who received generic cards?
Perhaps you want to know how settlement funds are being spent based on the restrictions and parameters you set on the first card, versus the second unrestricted card? Now you can compare and contrast the two cards data to see how funds were spent
Have some goodwill and class action cards expired? You can recoup unused funds from expired programs so the funds don’t end up as lost dollars thereby reducing risk factors involved in disbursements
Learn about products that bring your payments solution to life:
Payout via mail or on-the-spot with different types of Visa and Mastercard prepaid cards
Payout via email with flexible virtual Visa and Mastercard prepaid cards
Payout via your own systems to enhance and scale your payment capabilities
Pay individuals in real time and on-the-spot
Build and manage multiple ongoing payments program
Track and manage your payment card lifecycle from end-to-end
Get a deep dive into your business’s strategic payment needs
Mine and extract powerful business insights from millions of payment data points
Contact a Payments Expert
Berkeley is an excellent solution provider. They were very helpful and accommodated all of our payment needs.
We needed a partner who could help us design a program to meet the needs of a diverse, informed, and critical membership. Berkeley is a great partner and we’re proud of our prepaid Member Rewards Card program.
I'm familiar with many prepaid solution providers, and Berkeley is excellent. They're keen, enthusiastic, and the most innovative player in the marketplace.
The province’s emergency cards promote dignity and choice by allowing beneficiaries to determine their own needs, help stimulate local economies where emergency goods and services are already available, and support Canada’s pre-existing social safety net system.
What We Learned About the Future of Payments From CES2018 CES, the Consumer Electronics Show came to a close last week and was without a doubt,...