The word has quickly escalated from a traditional forefront to a digital one. The revolution started after companies started deploying cloud solutions and then the other industries had to comply. So far, digital revolution in the financial sector is the most prominent one. This led to the emergence of several FinTech platforms providing the customers with cutting-edge services. Some of which, with their services made FinTech, a new change approachable to the confused audience.
One of such companies that have made adapting to this change as easy is Prepaid Ventures Ltd. Led by CEO Andrew Siden, Prepaid Ventures, LTD. is one of the leading processors of prepaid debit card solutions in the United States.
Prepaid Ventures was started in the year 2007 with an aim to provide the customers of the alternative financial sector, a financial solution that was inclusive and one that made e-commerce accessible universally. Today, Prepaid Ventures offers a suite of electronic payment options across multiple payment products and distribution channels.
Prepaid Ventures offers innovative solutions to businesses looking to grow. Solutions that can bridge the gap between traditional paper services and electronic payments while maintaining your current business structure. Prepaid Ventures can help merchants who look to give their consumers excellent debit card services and unrivaled customer support. Prepaid Ventures protects merchants by monitoring fraud and risk, and provides consistent and useful consultative services.
The company promises seamless service offerings coupled with their introspective approach to strengthen their product range. When summed up, this results in happy satisfied customers! To achieve this, they focus on these three important things,
Protect funds with our advanced monitoring system and exceptional in-house call center.
Their robust technologies give you fully customizable service portals. Including their award winning ROVR interface.
From card fulfillment to user management and compliance, the team is there from beginning to end.
The Products and Services-
Customers are generally keener on the security of their payments, especially with a card to make sure they aren’t falling prey to the threats. Prepaid Ventures perceives this interest, and in this way, it actualizes any administrative changes quickly, screens its frameworks, and depends on stringent risk management approaches to deal with guarantee buyer assurance. The organization utilizes security apparatuses on an item, program, and portfolio level. Here are some of the ways Prepaid Ventures employs its solutions-
Account Shield: Customers have full control over their account security by blocking transactions. They can instantly protect their card by turning on Account Shield. This option temporarily enables or disables account transactions. Cardholders can do this by using the mobile app or website.
Prepaid Ventures can help merchants who look to give their consumers excellent debit card services and unrivaled customer support.
Biometrics: The company secures customers’ data with 256-bit encryption, a high level of data security. Using biometrics like Touch ID and Face ID protects the information with automatic sign-out if a customer leaves the app open. It also uses two-factor authentication for an extra layer of protection when a customer creates their account or performs certain actions.
EMV chip technology: This technology is used to support safe and secure payments. It offers enhanced fraud protection, smart security, and is the global standard to safeguard customers’ data and transactions.
Real-Time Alerts: Any time a customer uses their card, it sends instant transaction reminders to that customer. As a result, the customer will know their balance in the account. Additionally, its card programs support a robust alert/notification system.
Visa’s Zero Liability Policy: Visa’s Zero Liability Policy covers card programs to ensure that cardholders are not liable for unauthorized charges. This is a guarantee from Visa that customers will not be held responsible for unauthorized charges resulting from their account or account details. They are protected even when their Visa credit or debit card is lost, stolen or fraudulently used, online or offline.
FDIC Insured: PPV’s top priority is to protect its customers — that starts with keeping their information and money secure and safe. Therefore, card programs are FDIC insured. Funds are insured up to $250,000 through its issuing bank, Metropolitan Commercial Bank, Member FDIC.
Enhanced Fraud Engine: Using industry best practices, cardholder experience, past transactional history and knowledge of the retailer environment, PPV makes it possible to prevent what may seem like an assault by fraudsters who also threaten prepaid cards and prepaid industries
NexsCard- Rethink the Way you Manage Money
NexsCard is powered by Prepaid Ventures, a leading provider of financial program processing located in New York. NexsCard is backed by powerful and secure technology to help protect you.
NexsCard was designed to provide banking services to those who need it most. Providing our customers with end-to-end banking services for a fraction of the cost of big banks is the cornerstone of the NexsCard program.
With hundreds of thousands of retail and reload locations, NexsCard is always close by. Enjoy one-on-one support and instant card replacement at your local NexsCard retailer.
NexsCard offers a mobile app, exceptional in-house, US-based customer support and early access to your government benefits.
Andrew Siden- The Torchbearer of Next Generation Payments Services
Andrew Siden is Chief Executive Officer and Founder of Prepaid Ventures; a next generation cloud based payments processor as well as parent of several Prepaid card brands including Nexscard. Mr. Siden brings 25 years of financial Services and electronic payment processing experience to the company. Before starting Prepaid Ventures, Mr. Siden began his career at Smith Barney in 1991, where he worked as a Guided Portfolio Manager and ultimately became an Equity Trader with Knight Capital Group. In 2003 Mr. Siden left Wall St. to peruse the fast changing Alternative Financial Services (AFS) industry where he joined a leading New York based Check Cashing company. Once there, Mr. Siden implemented new corporate strategies, leveraged technology, and updated compliance & operational procedures. All the while gaining a broad understanding of the AFS landscape and ultimately launching Prepaid Ventures and developing its initial product, the NexsCard Prepaid Visa Card.
Now distributed across the country, NexsCard propelled Prepaid Ventures into the payments technologies space where Mr. Siden’s investments in financial technology, program management, and electronic payment processing, has accelerated the growth of Prepaid Ventures. The company now offers a suite of electronic payment options across multiple payments products and distribution channels. In 2016 Prepaid Ventures also entered the Merchant Processing space, to add to its full suite of Processing, Payments, and Program Management services. Mr. Siden serves on the board of the Network Branded Prepaid Card Association (NPBCA) the national trade group serving the prepaid card industry.
A good team that aligns with your and the company’s goals and targets forms the core for the success of any organization. Andrew feels he is fortunate enough to have some of his trusted friends as the board members of Prepaid Ventures. With their timely guidance and advice, Andrew has been able to stay competitive.
Drive, willingness to learn and intellect are those characteristics that make a successful member, and the leaders take into account all this when forming the team.