Prepaid Card Issuing Services From Moorwand

It’s possible for you to issue prepaid debit or credit cards without being a card scheme member. You can do this by getting a BIN Sponsor (Bank Identification Number).

 

If you have a BIN Sponsor like Moorwand it means you can skip the extensive form filling, registration fees, and lengthy collateral requirements of becoming a card scheme member, but get the benefits of being one. We can be your BIN Sponsor, making sure that you adhere to the sceheme rules and standards, so you can get your product to market sooner.

 

At Moorwand we pride ourselves on treating our clients as individuals. Part of our business is becoming an expert on your business, so you know you’re in safe hands.

 

We provide you with the space to focus on delivering your payment solution, by managing the complex scheme application process, whilst ensuring that you have the relevant knowledge required to own your value chain of payments partners.

 

We’re flexible, so whether you require access to a card scheme membership, digital banking, or an e-money license, we are the provider for you.

Prepaid Issuing

Issue Prepaid Cards Without Hassle

Fintechs

Businesses in the finance sector can now rapidly and effectively launch new payment services for their customers, without any friction, by working with specialist payment solution providers. This means they can respond quickly to the fluid, challenging conditions of what is a constantly evolving industry.

Gift & Loyalty Cards

The process of a business creating its own loyalty card programme can now be streamlined. This enables the creation of a more seamless customer experience which can increase customer retention rates of the card issuer. Consequently, this can also have a positive impact on revenues.

Business Expenses Cards

Managing business expenses becomes easier as a business with a BIN sponsorship is able to quickly issue prepaid debit and credit cards to their relevant employees. Those employees now don’t have to worry about spending their own money and waiting for a refund, which can sometimes take a while, from their finance department.

Moorwand provides a range of services to make the financial lives of both organisations and customers easier. Tell us your idea, and we’ll make it a reality.

Prepaid Cards FAQ

  • What is a prepaid card issuer?

  • What is a prepaid card?

    • A prepaid card works a lot like a gift card, and acts as a good cash substitute. All transactions are approved and authorised by the prepaid card provider. Which means users can’t fall into debt or an overdraft, like they can with credit or debit cards. So you can only spend what you have. But unlike cash, there’s an extra security layer to get through if it’s compromised, making it safer.

  • What is a BIN Sponsor?

    • By partnering with a direct scheme member – or “sponsor”, firms issue payment products without having to spend time and money on a direct scheme membership. Companies can go to market faster because they don’t have to raise the collateral themselves to hold a direct scheme membership, perform settlement and reconciliation and hold the client funds in segregated accounts.

  • How can we get BINs for issuing cards?

    • Moorwand, via its license, can assign ICAs and BINs to Programme Managers for issuing payment cards in the EEA.

  • What is Moorwand responsible for as the BIN Sponsor?

    • As the regulated entity, we are responsible for all programmes and products operated by our clients. Moorwand has full oversight and right to approve each proposition, monitors all offering and has access to all third party systems. Moorwand is responsible to ensure programmes are compliant with scheme rules; to perform settlement in a timely manner, and that customer funds are held in segregated accounts. Moorwand is responsible to ensure the business, clients and their programmes meet regulatory compliance. Regulatory compliance supercedes scheme rules.

  • How does BIN Sponsorship fit into the wider card issuing process?

    • BIN sponsorship provides direct access to scheme membership via an intermediary like Moorwand. BIN Sponsorship enables a card programme to operate as a Mastercard card or wallet programme, without this, a fintech would need to get access directly with the scheme (which can be costly and take more time). BIN Sponsors work with the other partners in the ecosystem (processors, card manufacturers, KYC providers etc) to ensure the programme is adhering efficiently and to regulatory standards.

Issuing Prepaid Cards is No Longer an Issue


BIN sponsorship combines speed of execution, effectiveness, and peace of mind for all businesses that take advantage of it. You can operate on your terms, effectively, safe in the knowledge that all of the nitty gritty work has been taken care of by your BIN sponsor.

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Let's discuss your prepaid card issuing needs.