New Way4 web services for the efficient issuing of prepaid cards in batches
Popular prepaid cards such as gift cards, travel cards, and general-purpose reloadable cards, are often issued in batches for various reasons.
Meeting the high demand for prepaid cards necessitates efficient batch issuance capabilities, allowing banks to quickly generate thousands of cards simultaneously and streamline processes to quickly meet customer needs.
The latest web services in Way 4 significantly expedite batch issuance of prepaid cards and enhance the management of associated contracts for specified account contracts. This streamlines the issuance process, promoting efficient and error-free management over manual methods.
The new web services are a valuable feature for rapid batch creation of prepaid cards. The bank can also issue virtual cards non-stop during system upgrades. Here are scenarios demonstrating the need for this functionality and highlighting the indispensability of the new web service in Way4.
Retailer gift cards
Scenario: a retail chain aims to issue a large number of gift cards ahead of the holiday season. Creating each card individually is time-consuming and inefficient. Batch creation is indispensable to save time and bolster efficiency when producing a large number of cards.
Employee incentive programs
Scenario: a company intends to distribute prepaid incentive cards to employees as bonuses or rewards. Batch creation facilitates the efficient distribution of cards to a large workforce.
Reloadable co-branded airline travel cards for customers
Scenario: a financial institution endeavors to provide reloadable co-branded prepaid cards to customers, offering a convenient alternative to traditional bank accounts. Batch creation expedites the process, simplifying the management of contracts associated with accounts.
Click below to discover further advantages that Way4 offers card issuers:
OpenWay is the only best-in-class provider of digital payment software solutions for card issuing, digital wallets, merchant acquiring, BNPL, transaction switching, tokenization, and fleet payments, and the best cloud payment systems provider as rated by Aite, PayTech and Juniper Research. Top-tier banks and processors, as well as ambitious fintech startups, have chosen OpenWay as their strategic partner. With its unique capabilities in rich functionality, fast-to-market, high availability and better ROI, the Way4 software platform guarantees an unparalleled customer payment experience.