Applications

In broad terms, and from the perspective of the client companies, prepaid line-up can be usefully divided into Internal Applications and External Applications.

Within these two areas, there are a broad range of prepaid programmes and opportunities to put to use prepaid technology to meet commercial interests:

Internal Applications enable companies to achieve efficiencies and administrative cost reductions with increased control in their internal operating environments

• Payroll cards - The primary and most common commercial prepaid application is payroll cards. Companies distribute payroll cards as a cost effective replacement for paper cheques or as a direct deposit alternative for employees that do not maintain traditional bank accounts, or who do not want their salaries deposited into their bank accounts. Payroll cards enable companies to efficiently distribute salary payments while providing employees with immediate and convenient funds access
• Commission payouts – Companies are able to distribute funds to compensate commission-based employees. Periodic payment amounts may vary and companies can replenish an existing commission account as required. Employees have convenient and immediate access to funds. Using prepaid technology, commission payouts are faster and avoid more costly cheque or voucher distributions
• Rewards and incentives – Companies can provide employees with easily accessible and variable cash rewards or incentive payments for sales contests or other performance-related activities. Prepaid cards used for incentives and rewards help strengthen the company and brand relationship among employees, while providing fast and convenient access to funds. Prepaid card accounts can be replenished as necessary and can avoid the more costly processing and distribution costs of paper cheques and vouchers
• Agent/contractor payments – Prepaid cards can be used to pay outside labour services that do not require full payroll accounting. Prepaid cards allow fast and efficient payment. Accounts can be replenished as required or funded on a one-time or project oriented basis
• Petty cash - By issuing prepaid cards to selected employees companies can reduce the procedural inefficiencies required for even small routine purchases, empowering employees to conduct small but vital tasks without bureaucratic procedures while maintaining control over expenditures
• Purchasing – Companies can issue prepaid cards to selected employees for larger but routine purchases, restricted to particular merchants, amounts and types of purchases as may be required. Companies maintain control while empowering employees to exercise responsibilities with reduced paperwork and bureaucratic procedures
• Travel expense – Use of prepaid cads for employee travel enables control over expenses while providing employees with an easy and efficient, broadly accepted payment instrument. Funds can be replenished as required, and spending can be controlled as necessary. Using prepaid for travel expenses can avoid much of the inefficient processing required of expense claim filing and reimbursement claims and distributions
• Employee expense accounts – For those employees that require access to funds for the conduct of business, prepaid cards can be a flexible and efficient payment method. Spending may be restricted as required enabling the company to maintain control over expenses, while providing employees broad flexibility and avoiding the necessity of out-of-pocket expenses and inefficient expense reimbursement procedures
• Relocation expense – Employers can use prepaid cards to manage and control relocation expenses for employees, while providing employees with easy access to funds. Prepaid cards can reduce out-of-pocket expenses and limit cumbersome expense reimbursement procedures
• Meeting planners – Prepaid cards assigned to meeting planners within the organisation can help control and limit expense locations and purchases, while providing planners with necessary flexibility
• Insurance claim settlements - Insurance companies are using prepaid cards to satisfy small to mid-size ticket claim settlements. The prepaid cards are more efficient than paper cheques or vouchers, and can provide claimants with easy cash access. The insurance company is able to reinforce its brand image in the card distribution, and the convenience and ease of card usage helps establish a favourable relationship with customers. Prepaid cards can be used for a number of types of insurance claims including workman’s compensation, auto claims, home content, employee health compensation benefits, dental benefits and catastrophic/accidental damage
• Loan distribution – For the small lending business or employee loans, small to mid-ticket disbursements can be made through the convenience of prepaid cards. Prepaid cards can also be used for recurring, periodic disbursements for small loans where repeated documentation is not required
• Comprehensive risk management – Using an Airmax Scope Card as a tool for fraud prevention, detection and control, scoring and screening capabilities designed to catch fraud early and minimise losses. The customer acquisition process across multiple channels incorporates a number of customer authentication options as well as a suite of risk tools to control value load, balance, spending and card usage

External Applications best serve companies’ interests in strengthening their brands and images among employees, business customers and consumers

• Consumer/Employee rebates – Instead of paper cheques or vouchers, companies can issue rebate cards to their customers/Employee, reinforcing a positive brand image and providing a quick, easy method of distribution

Airmax Scope Card solutions help achieve these objectives by replacing costly, inefficient paper processes like cheque distribution and receipt, paper voucher printing and issuance, and recurring payment distribution. Scope Prepaid solutions continue to allow the required control and restrictions, without the inefficiencies of paper processing and accompanying procedures.