Analyzing a solution to issue virtual prepaid cards in the form of rewards
There is a business model that also targets enterprise users, but instead of being used for the purpose of managing internal expenses within the enterprise, issues virtual prepaid cards and gift cards in the form of rewards.
Rewards that can be issued include Visa virtual prepaid cards, physical Visa gift cards, Amazon gift cards, Starbucks gift cards, small ACH transfers, PayPal transfers, etc.
Application scenarios for this kind of card-issuing service provider include:
Used for marketing, issuing small Visa prepaid cards or gift cards to unsuccessful customers to increase conversion rates, or sending virtual card rewards to maintain old customers, compensating underserved customers in the form of virtual cards, etc.
Questionnaire rewards are distributed. People who have done the questionnaire are often exposed to it and fill out a questionnaire for a certain company. They send Amazon gift cards, Visa gift cards, etc. to the respondents through this kind of professional card-issuing service provider.
For employee rewards, send virtual cards to company employees or remote workers to reward them.
It is a solution for businesses to pay small rewards in batches.
After signing up for this service, enterprise users can issue a card on the management dashboard and enter the recipient’s email or mobile phone number, name, and amount to send rewards. For example, in the image below, a recipient received a $25 reward from participating in a survey and research.
The recipient follows the steps to complete the virtual Visa card redemption.
For virtual card rewards that have been sent, enterprise users can view them in the management dashboard. It can implement functions such as single card issuance, batch card issuance, API docking, and scheduled card issuance without additional processing fees. The deposit method is a transfer from a corporate bank account.