• Product Reviews
• 13.02.2019 12:48 pm

What is the solution?

PrePay Solutions is one of the most complete and innovative prepaid platforms available in Europe. It is an in-house, multilingual, multicurrency-processing platform that is entirely designed for the prepaid market. The leading edge processing platform is created to support many different transactions, from card generation through to expiry. 

What is the demand for the service? 

Prepaid cards serve as an alternative to traditional bank accounts. The reduced risk of losing cash, poor exchange rates, and confusion over expenses is an important area every business usually wants to focus on. Global prepaid cards market indicates growing need for an ease-of-access, growing Internet users, rapid growth in e-commerce and demand for cash alternatives. These factors have contributed into the wide adoption of prepaid cards in corporate institutions, government bodies, financial institutions, and others. Although the market has already emerged, yet there remains a big room for further improvements, especially when it comes to smooth customer experience and security matters. 

What does the solution do?

PrePay Solutions offers a wide range of tools and applications to support clients’ programme and cardholders. Moreover, the PrePay Solutions platform supports a vast array of loyalty, virtual cards and multi currency wallets, including non-financial wallets for loyalty points and other non-financial instruments. It also offers full clearing and settlement services. The suit of APIs helps clients’ systems to interact with PrePay Solutions Systems. It works as interface between different software programs and facilitates their interaction similar to the way the user interface facilitates interaction between humans and computers. In order to provide superior transaction processing alongside other value added services, PrePay Solutions has integrated its processing platform with many clients and partners. If there are specific user requirements, clients can use PrePay Solutions APIs to properly communicate with the system and build their own tools and applications.

What are the key features?

·      Platform flexibility: The transaction processing platform is capable of handling all transaction types, including both full and partial redemption; it supports Mastercard®, ISO, APACS, XML web messaging and proprietary messaging formats where needed

·      Consistency for retailers: merchants can treat Mastercard® transactions in the same way as all other transactions

·      Built to banking standards: PrePay Solutions is PCI level 1 DSS compliant and certified by Mastercard

·      Compatibility with existing systems: It can work with proprietary formats and translate them into the appropriate messages within the platform

·      Service Availability: The platform operates 24/7, 365 days a year, to ensure peace of mind for customers and their cardholders

·      Resilience: Primary and backup systems run simultaneously in order to ensure full redundancy of all data. This way, all of the data is mirrored across duplicate sites in real time, so that all systems contain identical information

·      Global reach: All of the solutions are multicurrency and multilingual