Prepaid Ventures: A Leading Processor of Prepaid Debit Card Solutions

10 Innovative Brands of the Year 2022

Over the last few years, the world has witnessed a wave of innovation and transformation in almost all industries. The payment industry is rankingamong the top, in terms of innovation and transformation—especially after the COVID-19 pandemic. Before the pandemic, there were very few companies that were highly focused on changing the payment industry amongst which Prepaid Ventures was the frontrunner.

Recently, we got an opportunity to walk through the innovative journey of Prepaid Ventures. Our team at Business Leaders Review interviewedthe Founder and CEO of Prepaid Ventures, Andrew Siden.

Below are the snippets from the latest interview with Andrew Siden.

  • Could you start by outlining your journey in the finance industry by far?

As a Founder and CEO of Prepaid Ventures, I carry 25 years of financial services and electronic payment processing experience to the company. Before founding this company, I began my career at Smith Barney in 1991, where I worked as a Guided Portfolio Manager and ultimately became an Equity Trader with Knight Capital Group. In 2003,I left Wall St. to peruse the fast-changing Alternative Financial Services (AFS) industrywhere I joined a leading New York-based Check Cashing company.

  • What was the motivation behind establishing Prepaid Ventures?

When I got the new role in New York Based Check Cashing company, I implemented new corporate strategies, leveraged technology, and updated compliance & operational procedures. Parallelly, I was gaining a broad understanding of the AFS landscape and ultimately launching Prepaid Ventures and developing its initial product, the NexsCard Prepaid Visa Card.

Prepaid Ventures has highly invested in financial technology, program management, and electronic payment processing. This allowed the company to offer a suite of electronic payment options across multiple payment products and distribution channels. These investments contributed to the accelerated growth of the company.

  • How would you describe the journey of Prepaid Ventures by far?

I feel very proud of what we have achieved by far and there is more to come. In 2016, we entered the Merchant Processing space, making it an addition to our full suite of Processing, Payments, and Program Management services. I served on the board of the Network Branded Prepaid Card Association (NPBCA) the national trade group serving the prepaid card industry. Today, we rank amongst the leading processors of prepaid debit card solutions in the United States. We offer innovative solutions to businesses who are looking to grow by integrating cutting-edge technology and decades of financial experience.

  • Tell us more about the services that Prepaid Ventures offer.

Below is the list of services that we offer at Prepaid Ventures;

  • ROVR:ROVR is a powerful web-based program-management application that directs payments, compiles data, and produces reports. It handles your payments and reporting from end to end. Its user-friendly design works in conjunction with award-winning functionality to produce a seamless and hassle-free way to control your product offering.
  • Card Service:We offer a wide range of services and benefits customizable Card Face, Instant Payments, Direct Deposit, Bill Pay, Electronic Checkbook, Text and Email Alerts, Two Way Texting, FDIC Insured, Easy Online Purchasing, Monthly Discounts, Variable Rewards, andLoyalty Programs.
  • Disbursement Services: Pay your employee instantly, eliminate the hassle of checks, keep electronic records of your payments and keep your employees notified of changes through our management software, ROVR. You can cut the expenses on paper, postage, and delivery charges by using Direct Deposit of funds to your employees. It will help decrease security risks and reduce your bank fees, reconciliation costs, and stop-payment fees for lost and stolen paychecks.
  • Merchant Services: Our merchant solutions will help expand business by allowing the acceptance of credit, debit, gift, and other payment cards, which have become a common payment method for goods and services. We will assist in increasing sales – studies have shown that customers are likely to spend more when using a credit card over cash as a payment option.
  • Third-Party Administrative: Prepaid Ventures can eliminate a lot of the administrative burden of making payments. Through our third-party administration (TPA) services group, we can handle all of your corporate disbursement needs such as check, ACH, and card loading.
  • Call Center Services: Our Call Center team is the voice of our company. We’re committed to exceptional customer support. Our focus on product knowledge and quality service adds significant value to your brand.The Call Center Staff is the US Based, trained, and operated within our facilities and multilingual so they can assist in the most effective ways possible.
  • According to you, how are Prepaid Venture’s solutions helping its clients?

We operate in a highly competitive industry, which keeps Prepaid Ventures as a team, always on its toes. We are always striving to be a step ahead of all our competitors. As a team, we focus on offering solutions that can bridge the gap between traditional paper services and electronic payments while maintaining the current business structure.

  • What makes Prepaid Ventures distinctivefrom the other companies in the industry?

Prepaid Ventures helps merchants who look to give their consumers excellent debit card services and unrivaled customer support. We protect merchants by monitoring fraud and risk and provide consistent and useful consultative services.

Quote: Solutions that can bridge the gap between traditional paper services and electronic payments while maintaining your current business structure.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button