Prepaid cards have been the focus of a lot of discussion among corporate payments innovators in just the last few months. Some startups envision prepaid cards as a way for companies to manage payroll, expense management or procurement.
This week, Payment Data Systems announced its own contribution to the corporate prepaid card evolution.
On Thursday (Sept. 24), the company’s subsidiary, FiCentive, revealed the launch of its Stream Prepaid MasterCard product and service, a tool that facilitates corporate’s access to prepaid cards for the purpose of disbursing funds.
According to FiCentive, the Stream Card can be used for commissions, rewards or an array of other disbursement needs, making funds available to the recipient of a payment one day faster than ACH payment processes.
But the true value of the service, FiCentive said, is within the crowdfunding and crowdsharing economies, in addition to traditional business usages which sees businesses making regular payments to individuals, whether they be employees or contractors.
[bctt tweet=”But the true value of the service, FiCentive said, is within the crowdsharing economy.”]
"Imagine if you’re a rideshare driver and you could receive the money from a fare in seconds after you’ve dropped off a ride,” mulled Corporate Development SVP Houston Frost in a statement.
It’s a solution, the firm added, that can be used either instead of or in partnership with traditional banking solutions. Users of the prepaid card connect it to their own information, allowing funds on the card to be deposited via direct deposit, bank transfer or other tools in person or through a mobile device.
"The Stream Card is the first of a series of new solutions to be offered by Payment Data Systems which will increase the speed and convenience of money disbursements and outgoing payments,” said FiCentive President and COO Louis Hoch. “This solution combines FiCentive’s front-end technology with Payment Data’s back-end processing capabilities, which allows us to bring some exciting payment solutions to the marketplace."
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