Obopay Inc. is adding Visa prepaid cards to the ways that it allows customers to distribute funds electronically. Companies using Obopay Disbursements for purposes like insurance payments, payroll, rebates, incentives, expenses and other bulk payments can now load the funds to a prepaid card.
As a result of the agreement, Obopay will offer its partners the ability to disburse funds from their corporate account directly onto a Visa prepaid card which they can provide to a payee. The capability can benefit a range of industries including insurance, payroll, rebates, incentives, business expenses, government disbursements or any other bulk payment need, and can be particularly valuable in situations in which recipients have an immediate need for funds.
While Obopay has traditionally focused on emerging technologies, its addition of a prepaid card shows that some program managers will demand a suite of products that includes plastic even as new payment forms are more widely adopted.
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