Visa Announces Load Network for Prepaid Credit Cards
In a bid to increase use of its prepaid cards relative to those of other processors, Visa announced the upcoming rollout of the Prepaid Load Network, a network of merchants that will allow cardholders to reload their Visa-branded prepaid cards in-store.
While reloadable debit cards have been around for years, loading additional funds onto them has not always been the most convenient thing to do. By expanding the number of merchants offering reload capabilities right at the store counter, Visa hopes to make life easier for consumers and increase the use of its particular prepaid credit cards in the process.
From a merchant perspective, offerng reload capabilities could mean greater store traffic and perhaps revenue from reload fees. Participating merchants are expected to introduce the Visa Prepaid Load Network service later this year or in early 2007.
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