More Companies Look to White Label Prepaid Cards to Drive New Revenue Growth
Axiom Focuses on Digitally Driven Technology to Give Clients a Competitive Edge
BRUSSELS, September 10, 2019 (Newswire.com) - The number of consumers who use prepaid cards has been rapidly escalating year over year since 2006. As a result, white label card programs are being adopted at a faster rate by savvy businesses that recognize the potential for a new revenue stream. And Axiom Prepaid Financial, LLC is taking a leadership role in helping clients across Canada and Europe to elevate their brands to gain a competitive edge via innovative digitally-driven white label prepaid card programs.
“New revenue from white label card programs can range from six to seven digits per year depending on card spend and the number of cards issued so more and more businesses are seizing the opportunity,” explained Steven Foster, co-founder and president, Axiom – a global provider of end-to-end payment solutions for businesses – with prepaid cards as its primary tool. “Likewise, a standard card program can, quite literally, take years to complete, but white label solutions, like Axiom’s, can be finalized in just months.”
“White label” is the term given to products that are created by someone else but have the client’s branding on them. Axiom’s white label programs allow clients to create their own branded prepaid card programs to pay commissions, reward loyalty, and distribute compensation to their own customers, agents, affiliates while also offering a cost-effective alternative to traditional corporate payroll programs and investment advisory services.
Through Axiom’s white label programs, prepaid cards can be customized with client logos which boost brand visibility every time they are used. According to Foster, his company’s programs have also been proven to help businesses build brand awareness, loyalty and engagement, which create even more opportunity to increase revenue. In fact, according to industry experts, consistent branding can increase revenue by up to 23 percent in addition to strengthening relationships with target audiences.
The Axiom white label programs do not require prior experience or knowledge of running a prepaid card program; provide comprehensive reporting tools for efficient customer management; seamlessly integrate cardholder services to existing applications and websites; allow customization of cardholder fees and the revenue generated from those; while also reducing the time to market to approximately three to four months.
Program features include:
· Complete Infrastructure for Processing Operations. Its front-end comprises a customized website and web portal that is tied into iPhone and Android apps. These can be used for card management, sending payments, and any enhanced card services. Its back-end comprises administrative portals, API connections and secure encryption for sign-ups, KYC, sponsor banks, call centers and fulfillment centers.
· Full Customization. Each card includes custom card design along with current fee structure, fund distribution channel, rewards program, and mobile and desktop solutions.
· Standard Features. The white label programs include card-to-card payments, ATM access, direct deposit load, generated statements, 24/7 help, fraud protection, virtual card access and SMS/email alerts.
Axiom’s founders have more than 60 years of banking experience and are focused on using digital tools to enhance the banking experience. For more information about Axiom Prepaid Financial LLC and its white label program, go to www.axiompph.com or @axiompph on Facebook.
The EuroPYM Prepaid Mastercard is issued by Prepaid Financial Services Limited pursuant to a license from Mastercard International Incorporated. Prepaid Financial Services Limited is regulated and authorized by the Financial Conduct Authority, as an Electronic Money Institution, registration number 900036. Registered Office: Fifth Floor, Langham House, 302-308 Regent Street, London, W1B 3AT. Company Registration number: 06337638
The Ripae Visa Prepaid Card is issued by MetaBank®, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Card may be used everywhere Visa debit cards are accepted globally.
For media inquiries contact: Erin Andrews whitelabel@axiompph.com
Source: Axiom Prepaid Financial, LLC