White Label Programs Generate Revenue and Keep Brands Front and Center in Difficult Times
SALT LAKE CITY, March 25, 2020 /PRNewswire-PRWeb/ -- It's a delicate balance: Marketing one's brand to keep the business in the black; and doing it in a sensitive way. According to the experts at Axiom Prepaid Holdings, white label prepaid card programs are a viable option to do both.
Axiom Prepaid Holdings entered the global payment solutions arena in 2017 and introduced its white label program last year. The program has provided particularly possible fintech, education and microlender communities, the organization has expanded the scope of the service for 2020.
So, what exactly is a white label prepaid card program? White label card programs have proven successful in boosting revenue and improving brand visibility and loyalty, based on the particular business's goals. They allow businesses to have their name and logo embossed on a prepaid Visa® or Mastercard®. The cards - which encompass gift cards, travel cards and general use cards - are available via app or physical card and can be used to pay commissions and distribute compensation to affiliates, customers and agents; and offer an alternative to traditional corporate payroll programs and investment advisory services. Clients chose the fee structure, fund distribution channel and card features that work for them that include varied combinations of features that may include peer-to-peer transfers, direct deposit, spend tracking, microloans, credit monitoring and multi-currency options, to name a handful. The cards can be used at merchants and ATMs around the globe and are inclusive of 24/7 customer service, and fraud and theft protection.
White label cards have the added benefit of allowing businesses to collect data, analytics and tracking for use in improving customer outreach efforts. In the case of Axiom Prepaid Holdings, the company creates and manages its clients' program according to their specifications and is able to speed time to market while also ensuring that all compliance and regulatory requirements are met and maintained.
White label prepaid cards have become such a popular marketing and revenue-generating option because of the explosive growth of the payment method. The number of payments made with prepaid cards rose nearly 20 percent per year between 2006 and 2012 and their adoption has continued to grow year-over-year since then. To put that number in closer perspective, prepaid, debit and credit card spending is expected to top $10 trillion by 2023.
In a time of stress and change, branding a product that is in each customer or employee's wallet and frequently in-hand provides a subtle means of reminding them that the business is there for them. The tool also provides an opportunity to provide rewards to cardholders, further cementing a long-term relationship.
--------------------------------------------------------------------------------------------------------------------------------
About Axiom Prepaid Holdings:
Axiom Prepaid Holdings was born of the desire of two entrepreneurial-minded banking industry veterans to turn the prepaid card model upside down. To make banking simple. To give consumers and businesses around the globe access to innovative, easy-to-use, digitally driven, fun, flexible and secure products and services. Today, Axiom has 9 offices and conducts business in 20 countries. Every day, the Axiom team strives to create 100% turnkey solutions to help cardholders gain economic freedoms and help businesses achieve growth and success. To learn more about Axiom Prepaid Holdings, please visit: http://www.axiompph.com
SOURCE Axiom Prepaid Holdings
