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December 19, 2006
MasterCard Launches the MasterCard(R) rePower(TM) Prepaid Load Network
InComm Successfully Processes First POS Transaction.
PURCHASE, N.Y., Dec. 19 -- MasterCard Worldwide and InComm today announced the successful completion of the first cardholder point of sale transaction using the MasterCard rePower Load Network. MasterCard rePower at the point of sale is a new service that allows consumers to add money to eligible MasterCard or Maestro branded prepaid cards at participating merchant locations. InComm will begin offering the solution to the 145,000 stores that comprise its retail distribution network.
MasterCard rePower allows MasterCard-branded prepaid cardholders to easily add money to their eligible prepaid accounts at participating retail locations, bringing a valuable service to the millions of financially "underserved" individuals in the United States. Prepaid cards have emerged as a key enabler of allowing those without a banking history -- a segment that research firm Celent estimates to be 14 million households -- to forge a relationship with a financial institution and better manage their money.
Eligible cardholders need only to present a participating merchant with an eligible MasterCard or Maestro-branded reloadable prepaid card, along with the money they wish to add. The merchant uses standard transaction codes and transmits the load amount. The transaction is processed in real-time over the MasterCard network, giving the cardholder immediate access to his or her money.
|GlobalGiants.Com|
Edited & Posted by the Editor | 11:01 PM | Link to this Post
