What is an Open Loop Prepaid Card program?
Open loop and Prepaid programs are next generation assets that promise a digital transformation for organizations. An Open Loop Prepaid Card program is a strategic tool that delivers for multiple benefits including corporate benefits, facilitating receiving or making payments for gig workers or merchants, or simply all-purpose gifting. Payment instruments under this program can be issued, activated, managed, and monitored in real time and they are available both in Physical and Digital forms.
The Qwikcilver Advantage
Use Cases of Prepaid Cards
Fuel and Fleet Management Card
A cashless way to refuel your fleet of vehicles - this prepaid solution enables you to allocate a fixed amount of money from your budget and easily enforce your company spending policy with multiple controls to limit card. Get customized alerts based on spending behaviours you specify, like excess fuel, off-route purchases, and more.
- Instant Issuance
- Easy Tracking and Fleet Management
- Secure and Cashless Transactions
Gig Economy Disbursements Cards
Gig workers can be paid rapidly and easily in real time which in turn helps in attracting, retaining and optimizing the workforce as more workers prefer real time payment. This card helps in attracting merchant partners as they can access the funds without depending on banking transactions and authorizations.
- Real-time marketplace payments
- Seamless purchase by shoppers
- Prepaid cards with JIT funding
Incentive & Rewards
A future ready Rewards and Incentives experience for your Sales Teams and Employees. Our open loop Incentives and Rewards solutions provide the scale, control, and flexibility needed to keep up with ever-changing business preferences and managing user experiences. With Just-in-Time funding, maximize working capital as funding happens only when transactions occur.
- Just-in-Time Funding
- Flexibility of both Digital and Physical
- Instant Redemptions
A payment solution that is frictionless and doesn’t interrupt the gaming experience. All this while being secure and offering them the choice of redemption. Gaming Prepaid Cards employs a single container to offer all the benefits to the user while helping the gaming platforms to retain high engagement levels and consistent user delight.
- In-App Payments
- Enable Bank out
- Single container for multiple currencies
A single container that becomes the primary touchpoint for the user – a digital wallet enables the customer to experience all of the brand’s currencies and to have a seamless payment experience. For the Merchant, they also serve the purpose of building customer engagement through promotions and cashbacks.
- One account-multiple forms
- Instant Redemptions
- Seamless User Onboarding
Teen and Campus Cards
A new age solution for Campuses and Universities for a secure cashless and trackable payment solutions for students and staff. Detailed tracking and reporting allow visibility for both management as well as parents and guardians. Cashless means safety and security is ensured.
- Single Payment for all campus services
- Payment and Reimbursement both
- In built Identification and Access Management
Employee Benefits & Expense Management
A unique product that helps in significant tax saving for employees and offering ease in disbursement and management for organizations while retaining control on spend.This is a prepaid payment instrument linked to a fully digital mobile app-based offering over UPI network.
- One platform to manage multiple benefits
- Travel, Conveyance, Medical, Gifting
- Physical or Digital Cards
Gifting and General Purpose
These smart financial instruments that can be issued, managed, and monitored in real time, are meant for all-purpose gifting and general use. They can be distributed across third party platforms in real time via API. Users can use it across all online and offline platforms making them extremely convenient to use.
- Freedom of usage for User
- Real time redemption
- Variable denominations
A simple solution to handle a variety of B2B payments like Vendor Payments, Seller Payments and even petty cash management at your stores and store branches. With ability to handle multiple forms like Physical and Digital – both Mobile and Web, you can manage all your B2B payments from a single portal leading to greater efficiency and savings.
- Peer to Peer transfer capability
- Direct Integrations
- Detailed Tracking and Reporting