TransCard has announced that from now through March 31, 2011, they will waive implementation fees for Program Managers (PM) and registered Independent Sales Organizations (ISO) that are willing to convert their established portfolios to TransCard’s program called “Switch for Free”.
TransCard claims that a bundled solution offering will make it easier for customers with a portfolio of cards that are searching for new partners and don’t wish to pay extra processing fees. TransCard states that they will incur any bank related implementation or on-boarding fees as well.
Craig Fuller, CEO of TransCard said:
“We are looking for high quality and reputable program managers that are looking for a partner to help them scale their business. We don’t want the economics of switching to a new solution to be prohibitive for program conversion.”
To participate, program managers must have established portfolios with $1 million dollars in annual spend, be in operation more than 2 years, and be a registered ISO of a network association. The program’s intended targets are high-quality reloadable prepaid portfolios.
TransCard and Business Solutions, a wholly-owned subsidiary of the American Bankers Association, seem to be aggressively enticing institutions into the prepaid space with their Community Bank Prepaid Program. The partnership asserts to have created a low-risk, low-cost, turnkey prepaid ecosystem that will enable banks around the country to easily create and maintain a prepaid portfolio. Switch For Free is also available to banks with the desire to convert their prepaid agent program to a direct issuer program through the offering.
For more information on Switch For Free, visit: www.prepaidcommunity.comFor more information on the Community Bank Prepaid Program, please visit: www.prepaidissuer.com. For more information onTransCard, please visit: www.transcard.com.