The Benefits of Prepaid Cards When Travelling

Prepaid, or preloaded cards as they are also known are a great opportunity for fintechs that operate in the travel industry.

 

Companies want to keep an eye on how much their employees spend, what they spend on, as well keeping their finances secure if the card is lost or stolen.

 

The mass adoption of APIs in personal finance means that people now expect more in depth financial information.

 

The more budget conscious holiday makers want to do the same, but for themselves. This presents a business opportunity for card issuers in the travel industry. However, obtaining BIN numbers is notoriously difficult. This is where we come in, as your BIN sponsor.

Card issuing Travel card

Different needs, different cards

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More Expansion Opportunities

BIN sponsorship opens up the world to virtually endless expansion opportunities within the global travel sector. Wherever people travel, whether it be for business or pleasure, many people at some point will need to travel. During their trip they’ll need secure access to finances. Fintech can provide that, BIN sponsorship makes that process much easier.

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Rapid Launch to Market

If we were to become your BIN sponsor, the time it takes for you to offer a new card to customers will rapidly decrease. This means you can react quicker to changing market conditions as well as increase the quality of the customer experience. No one likes to wait for their money.

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More Cost Effective

The costs incurred by a traditional card scheme application are far higher than what they would be by using us as a BIN Sponsor. You can now redirect these funds to other parts of the business to get a return on your investment.

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Compliant

The compliance segment of a card scheme application can be daunting. We take care of all of this for you. You won’t have to worry about making any costly mistakes setting you back. Our team is highly experienced and has extensive compliance expertise.

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Improved Customer Experience

In today’s hyper competitive marketplace, customer experience can often be the difference between acquiring, retaining and losing a customer. We can take care of the nitty gritty for you. Which means you’ll be able to put more resources towards enhancing your customer experience, which leads to higher profits.

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Peace of Mind

Launching new cards is a stressful experience, we can’t do it for you unfortunately, but we can make the process much more enjoyable than it usually is. We enjoy the process of making sure you get the BIN sponsorship you need.

BIN sponsorship enables fintech companies who operate in the travel industry a chance to give people what they want. The same level of granularity, transparency and personalisation that they get at home with their current account or credit card, when they’re in another country. Think of it as being able to offer customers a seamless customer experience that isn’t bound by borders, language or time zones. Different country, same experience. Standardisation through personalisation. From London to Lagos, good financial habits can be followed and analysed.

Card issuance expertise to help businesses focus on their clients


With decades of legal, regulatory and payment expertise, Moorwand facilitates card programme managers to launch new bespoke programmes in less time and without worrying about every compliance aspect.

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