The new offering is an extension of the HP Cards and Payments Services portfolio, which supports a range of debit, credit and now prepaid options, including the capability to use multiple currencies on a single card.
HP Prepaid Card Services provide clients with:
- Increased simplicity by using a platform that provides a single view of the portfolio.
- New market opportunities by allowing banks to provide card-based payment services, regardless of a consumer’s credit eligibility.
- Inventory management that allows clients to deploy cards that contain no value until assigned and activated. A logistics management function tracks inventory levels, automatically reorders cards and dispatches cards when they are needed.
- Fraud protection that reduces client exposure to losses by applying advanced fraud monitoring tools on the transactions.
- The HP Prepaid Card Services support the latest EMV Chip and Pin requirements, thereby reducing the possibility of creating counterfeit cards or fraudulent transactions.
HP Enterprise Services senior vice president for Industry Services Sean Kenny said as consumers and businesses increasingly use debit and prepaid cards as money-management tools, banks need the ability to provide their clients with cost-effective prepaid solutions.
"HP provides financial services clients with highly flexible prepaid card solutions featuring innovative self-service capabilities that increase cardholder satisfaction while lowering costs for call centers," Kenny said.
