Experian partners with Cardplatforms on prepaid cards

5 February 2013

Experian has agreed to provide Cardplatforms with its international authentication services to help the vendor rollout prepaid payroll and benefit cards worldwide to employees at maritime shipping companies.

Under the partnership Experian’s global verification services, Prove-ID and AutoDoc-ID, will work with Cardplatforms’ prepaid card issuance network to rollout a payroll and benefits programme to leading maritime shipping firms. Experian will provide personal data verification, fraud screening and authentication of online documents to ensure the funds go to the right individuals.

Experian added that Prove-ID and AutoDoc-ID aim both to help drive growth in the prepaid card industry and also enable organisations to comply with regulatory requirements and easily perform international cross-border commerce. Prepaid cards meet a broad range of needs and are becoming increasingly popular as an alternative to traditional banking services. The benefits of prepaid cards, such as no overdraft or transaction fees, and no credit checks, are ideal for the financially excluded who are unable to qualify for mainstream financial products and conventional bank accounts. Prepaid cards also provide a banking solution to organisations seeking to provide innovative payment solutions to customers and employees.

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