Reloadable Prepaid Visa: About/Best Uses
Reloadable Visa Cards are ideal for ongoing employee or agent incentive programs, commissions, payroll, FSAs, benefits, clinical trial studies, and expense reimbursement. Recipients should be employees or 1099 contractors. iCARD generally does not support consumer-facing reloadable programs such as GPRs, unless you have access to a large captive customer base.
Reloadable Visa Cards are a great tool for the right circumstances. As a general rule of thumb, reloadable cards are appropriate if they will be loaded at least four times in a given year and loaded with at least a total of $1250. Personally-identifable information is required on the cardholder. Reloadable cards are much more expensive because of the administrative complexity and longer periods of cardholder service.
Note: In a lot of cases, iCARD has found that clients are often better served by a single-loaded card program.
Delivering a single loaded card multiple times might have more impact than a card buried in a wallet.
-- Ability to change messaging.
-- Delivery is more in synch with the behavior that is being compensated.
-- Sometimes a reloadable card morphs a reward into a sense of entitlement.