HP Opens New Market Opportunities to Banks with Prepaid Card Services
AUCKLAND, New Zealand, March 23, 2011 – HP today announced new services that provide banking clients with a flexible,
secure, self-service and cost-effective payment delivery solution for prefunded cards.
The HP Prepaid Card Services provide clients with:
— Increased simplicity by using a platform that provides a single view of the portfolio, thereby driving efficiency in
customer service and standardising back-office operations across products.
— New market opportunities by allowing banks to provide card-based payment services, regardless of a consumer’s credit
eligibility. Prepaid cards create new revenue streams by enabling banks to meet unique market opportunities that exist
within corporations, retailers, healthcare organisations, transportation agencies, universities and government entities.
— 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.
“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,” said Dee McGrath, Director of Secured & Unsecured Lending, Enterprise Services, HP South Pacific. “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 centres.”
HP Prepaid Card Services add a comprehensive suite of modules across the entire life cycle of pay-before products,
offering web-enabled services such as:
— An inventory management system tracks the complete life cycle of the card, providing clients with the assurance that
they have card inventory ready for distribution;
— A self-service customer portal enables cardholders to easily enrol their cards securely with their issuing bank, view
their transaction histories, add funds, change their PIN and report lost or stolen cards;
— A client brandable customer service portal allows simple and secure access to cardholder profiles and transactions to
address customer inquiries.
HP Prepaid Card Services are an extension of the HP Cards and Payments Services portfolio, which supports an extensive range of debit, credit and now prepaid options, including the capability to use
multiple currencies on a single card.
By enabling funds to become immediately available to consumers, HP Prepaid Card Services help financial institutions and
businesses across a variety of industries and governments in their pursuit of an Instant-On Enterprise. In a world of continuous connectivity, the Instant-On Enterprise embeds technology in everything it does to serve
customers, employees, partners and citizens with whatever they need, instantly.
ENDS