Prepaid cards can be especially useful for SMEs in need of a simple way to pay their employees. But a solution from Omni Prepaid is bringing a new product to small business owners that not only want to pay their employees but want to reward them.
Corporate rewards card firm OmniCard is introducing a new way for small and medium-sized businesses to access rewards and loyalty cards for their employees. In a statement, the company revealed a new venture with sister company GiftCards.com to provide SMEs with a Visa-branded loyalty card, which the company said helps companies reward their employees for their achievements.
OmniCard’s new Small Business Visa Prepaid Card Program will include an easy-to-use API platform that comes without minimum requirements often seen for larger corporate customers.
In a statement, Omni Prepaid CEO Jason Wolfe said the company has “high expectations” for its subsidiary’s new SME prepaid card program. “We have requests on a regular basis from small business owners interested in placing small orders,” he said. “In the past, we rejected these orders. With this new program, we no longer need to turn those thousands of orders away.”
According to the company, set-up costs and approval requirements stood as high barriers to SMEs that want to adopt a prepaid loyalty and rewards card program for their employees. Such a program, OmniCard said, offers an incentive for employees to support customer loyalty.
The SME-focused program has no minimum order, OmniCard said, and holds a maximum order of 50 cards, each with up to $500. The figures are perfect for independent, small businesses, the company said.