What is a General Spend Card?

General spend cards are re-loadable (fundable) prepaid cards which are purchased at retail locations or via the Internet. The cards can be either instant issue, non-personalized or can be registered to the customer and be activated upon receipt. Registered cards can also bear the printed name of the cardholder. General spend cards carry the MasterCard or Visa logo and can be used at MasterCard or Visa merchants worldwide, or at ATM's to withdraw cash. Niche cards can be created for specific user groups such as teen/youth cards, money transfer cards, association or affiliate cards (Airlines, MLM, Clubs), general use cards for the un-banked and many more.

Transact Network is a full-service prepaid card provider and can assist you in entering the general spend card market. Our services range from turnkey, of-the-shelf card programs based on our white label platform, to fully customised programs.

Virtual Card or Physical Card?

A virtual card can be instantly issued online and used anywhere MasterCard or Visa cards are accepted online. Its safe and private and gives you control over your spending.

The customer is issued the same BIN sequence and number as you would get on a physical card. Once the customer chooses to upgrade to a physical card the customer is able to keep the same card number.

How General Spend Cards Work

General spend cards, once activated, work just like a credit card except there is no interest due on outstanding balances; rather the cards are funded with value and the cardholder can use the card up to the prepaid limit. These cards are accepted at MasterCard and Visa locations worldwide and can also be used at ATM machines to withdraw cash.

Card features

• Branded with MasterCard or Visa logo
• Re-loadable (fundable) at thousand of locations across Europe and via online deposit methods
• Accepted at ATM's and point of sale locations worldwide
• Optional card personalization
• Easy access to card activity online, via sms, and by telephone

Cardholder Benefits

• Immediate funds availability
• Enables online and mail order purchasing
• Safe online shopping preventing risks of identity fraud
• No bank account required
• Safer than cash
• Easy access to reports
• Linked cards for easy and instant transfers
• Personalized card can serve as second form of ID
• No interest or late fees payable