FiCentive, a wholly-owned subsidiary of Payment Data Systems, has rolled out the new Stream Prepaid MasterCard to allow businesses make cash disbursements instantly.
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The new full-featured, consumer prepaid card provides a single, streamlined, financial account and payment card, which can be managed online and via mobile devices using a fully adaptive web application.
The card will offer businesses a platform to instantly disburse cash, be it commissions, rewards or other payments, making funds available to the recipient at least a day earlier compared to conventional ACH transfers.
Cardholders will get instant access to funds loaded by the business anywhere debit MasterCard is accepted, as well as can utilise the card as an alternative or companion to a bank account.
In addition, they will be able to deposit their own funds to the card through direct deposit, bank transfer, cash-loading at retail locations, and mobile check-capture.
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By GlobalDataThe new prepaid card can be co-branded or white-labelled, based on the application and requirements of the business partner.
Payment Data Systems president and COO Louis Hoch said: "The Stream Card is the first of a series of new solutions to be offered by Payment Data Systems which will increase the speed and convenience of money disbursements and outgoing payments.
"This solution combines FiCentive’s front-end technology with Payment Data’s back-end processing capabilities, which allows us to bring some exciting payment solutions to the marketplace."
