Payza, the UK based company announced on August 10 the international launch of its Payza Prepaid Card. The supplier of the payment technology MasterCard launched unique GPR prepaid cards at the end of the year 2015 in the USA and Canada in test mode before the global worldwide launch.
During the testing period a 2013 Pay Award winner for Outstanding Newcomer, received feedback from cardholders, interested in any information on how relatives and friends from other parts of the world can actually get the card for the money transfers could be completed easily. Firoz Patel, Payza global executive vice president, says the following: "Most prepaid card issuers concentrate more or less on one or two regions of the world and ignore the rest, and we saw that as a great opportunity" to launch internationally, he adds.
Chip and PIN-code enables Payza Prepaid Card to take advantage of using the management and security features including the opportunity for the cardholders to enter the member areas online or from the smart-phones with the purpose both to transfer funds from Payza wallet and move the funds between Payza accounts, to get the suspicious activity report, to report and suspend a lost or stolen card and reset their card's PIN. The card costs $19.95 and can be used anywhere MasterCard is in service.
The Payza purpose gives customers opportunity to control accounts in the most direct way possible says Patel. "We're trying to make it so they don't ever have to call to speak to a live agent. (Customers) have full control over and access to their account," he declares.
For now the Payza Prepaid Card is not fully international. "Regulations don't allow the international card to be issued in India" says Patel. The sticking points is that the prepaid product has to be in India. He adds Payza started to cooperate with India YES bank to be the issuer. He is sure Indians will get their own Prepaid Cards this year later. There is a problem, though there is a solution. All what should be done is a good agreement.
