Next Step Network has unveiled a new prepaid MasterCard program to help families reduce negative spending behaviours.
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The new card program will incorporate customisable spending restrictions and tools, allowing an additional level of analysis hitherto unseen in traditional prepaid cards, debit cards or credit cards.
The tools have been designed to help distribute, manage as well as monitor spending allowances for cardholders easily.
The Next Step MasterCard Program for Families has been designed to curb risks related to offering individuals access to financial support.
Parents and caregivers using the program will be able to phase out or reduce access to cash with ATM restriction options, set overall spending limits, limits by merchant category types, and limits by day, week and/or month, block card use during specific hours, as well as block card from use at additional merchant category types.
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By GlobalDataThe card will allow individuals to work with their caregiver to set a budget, review spending dashboards, and monitor their spending.
Next Step Network CEO Eric Dresdale said: "The Next Step MasterCard behavioral healthcare program has been successfully implemented, tested and approved by some of the nation’s leading treatment and recovery residence providers.
"By extending this program to families, we can provide parents and caregivers with the peace of mind they are looking for when providing financial support to a loved one."
The reloadable card cannot be used at merchants that categorise themselves as bars, liquor stores, gambling establishments, and escort services, among others.
