Card production company CPI Card Group announced today that it has updated its card ordering platform to include the ability to order and fulfill virtual open-loop prepaid cards.
The newly announced enhancements allow prepaid program managers to offer the option of physical or digital cards as part of their omni-channel gift, reward and incentive, and rebate programs. Consumers simply use the convenient online interface offered by MYCA to choose between a physical card delivered by mail and a digital card delivered to their email.
The company notes that digital open-loop cards have not been widely available. This development provides more options for program managers to offer open-loop cards in a variety of contexts. Shoppers have increasingly adopted digital prepaid cards both as gifts and for self-use. The growth of mobile wallets and online shopping have made digital cards a more attractive option for many programs.
Download CPI’s White Paper on Prepaid Opportunities here: http://www.cpicardgroup.com/blog/white-paper-prepaid-opening-new-revenue-opportunities-with-open-loop-digital-gift-cards/
Overview by Ben Jackson, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group
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