SelectCore Launches ReCash – Canada’s First Retail Reload Network

by Mercator Advisory Group 0

Reload networks are an important part of the success of any prepaid program. While Green Dot has one of the most widespread reload networks in the United States, Select Core aims to build a similar network in Canada. Having a card-agnostic reload system can win the company clients from across the prepaid sector and makes the industry as a whole more viable, because easy reloading is essential for the growth and continued use of prepaid cards. Now, Select Core needs to build awareness among card holders and partnerships with issuers and program managers in order to be successful.

For a nominal fee of $4.95, cardholders can purchase a ReCash Voucher with any dollar value up to $500 from a participating retail outlet. The funds can be transferred instantly to the customer’s card via text message, online, or toll-free phone number.

For the initial rollout, thousands of existing retailers with SelectCore-owned Verifone terminals will become ReCash ‘branches’ and ‘tellers’. The proprietary technology behind ReCash is integrated with the Company’s legacy PrepaidONE platform which provides mobile top-ups for millions of prepaid users. SelectCore also has plans to quickly expand its reload network to include many of Canada’s national chains.

Read the full press release at: http://www.selectcore.com/2011_02_23.html