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InComm Launches Canadian Vanilla Prepaid Card

December 5, 2012
International|Banking_Channels
Leading prepaid program manager InComm has teamed up with People Trust of Canada to launch a no fee prepaid card line named Vanilla in Canada.

Under the new changes, which went into effect July 1, 2012, Canadian consumers who purchase products from the Vanilla line, which includes the Vanilla® Visa® and Vanilla® MasterCard® cards, among others, will receive the following benefits:
• No monthly maintenance fee
• Non-expiring balance
• No card replacement fee

Although the Canadian prepaid card market is small compared with the US market, it is still quite developed. And it has been growing rapidly. InComm is hoping to increase its market share in the local market with more attractive terms on the Vanilla line.

Through the new model, no fees after purchase will be assessed on any products purchased on or after July 1, 2012, regardless of verbiage on the packaging that might state otherwise. As Vanilla prepaid products can be used internationally, a 2.5 percent foreign exchange fee will apply to all foreign purchases, regardless of activation date. The Vanilla Visa and Vanilla MasterCard prepaid cards are offered exclusively by InComm.

Read more here: http://www.sacbee.com/2012/12/04/502...#storylink=cpy

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