As part of this program, adhering to MasterCard standards of program design, implementation and ongoing management, ECS will provide customized prepaid services through its electraPREPAID platform to issuers across regions.
According to ECS, electraPREPAID is a prepaid card solution that is designed ground up for multi-institution, multi country, multi-lingual, multi-currency environments. It manages and supports various flavors of prepaid cards such as payroll cards, gift cards, travel cards, and supports end-to-end requirements of the prepaid card issuer including program management, agent management, card production, registration, fee management, authorization, transaction processing, account funding, dispute management, agent services, customer care and cardholder self care.
Robert Walls, senior business leader for debit and prepaid product management for Asia/Pacific, Middle East & Africa at MasterCard, said: “With prepaid programs growing in popularity in the region, we at MasterCard consider it critical that our customers have trusted partners offering best-in-class processing solutions and ongoing operational support.”
Ramesh Mengawade, CEO of ElectraCard Services, said: “We are proud to be providing end-to-end support to MasterCard for their first ever partners in prepaid program. With relevant expertise and a distinguished product, we will create the right platform for issuers to tap the growth potential of the prepaid segment.”
