Stored Value Cards are prepaid cards of variable amount that could be used as a payment method in a merchant network (privative circuit). Purchasing (or receiving) these cards, the customers could use them as an alternative payment method and (if possible) recharge them with other funds.
- these cards can be physical or digital and are very fast to obtain;
- closed loop cards are not connected to a bank account;
- these cards allow the customer to accumulate credit from various sources;
- these cards can be anonymous;
- these cards are not subject to transaction fees by the financial system.
It goes without saying that for the issuing brand it’s important to study the purchase rate for every card, the most performing stores, the bestseller type of product, and many other indicators which allow companies to have a complete indication of the use of cards.
Domec is able to offer through Domec Tools™ platform an end to end cycle: from the creation, management and maintenance of Store Value Card batch, assisting the customer by integrating with POS and retail store, up to weekly post-integration reporting.
Moreover it’s possible to develop ad hoc dedicated b2b platform for our clients that allows them to monitor and manage the expenses of their employees at selected point of sales. For example, if a transport company would like to monitor driver’s consumptions, it can acquire a Stored Value Card to be distributed in its fleets.
This is exactly what Domec developed for Casareale Carburanti with the First Card Fuel Card.