Global Payout, a B2B alternative and custom electronic payment solutions supplier, has launched a new debit card, which does not need Know Your Customer (KYC) data at the time of issuance and card activation.
The new General Purpose Reloadable (GPR) "instant issue" Visa International prepaid debit card allows ATM cash withdrawals, corporate reimbursement of expenses, independent contractor compensation, retail purchases, domestic and international travel expenditures.
Go deeper with GlobalData
Additional functionalities include on-line purchases, bill payment, general purpose spending, gift cards, loyalty and reward capabilities, affinity programmes, incentive redemption, and expense vouchers.
Equipped with chip and pin (EMV) and magnetic stripe functionality, the new NFC-based card can be loaded with up to $3,300 and can be used to withdraw up to $160 per day from an ATM.
The new prepaid card, which was developed through one of Global Payout’s existing joint partnerships and a European based bank, comes with an own bank account, enabling the user to re-load the card directly to the card account or through online transfer from their own bank account.
Global Payout, president, Bill Rochfort, said: "Instant issue and non-personalised prepaid cards here in the U.S. have been marketed, sold and cash loaded at major retailers for the last 15 years.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"However, we have never seen anonymous prepaid cards being distributed internationally and this results in a huge opportunity for Global Payout to aggressively acquire new accounts and significant revenue."
According to Global Payout, around 50,000 active cards are estimated to be sold in the next six months and 100,000 cards by the end of calendar year 2014 from new and existing customers.
