Metavante Processing the Reload Evolution of Prepaid Cards.MILWAUKEE -- Metavante Corporation Metavante is a company that provides financial technology services and software to its customers, consisting primarily of small to large sized financial institutions. The $1.5 billion organization is headquartered in Milwaukee, Wisconsin and employs over 5,600 employees in 35 U.S. today announced it is the first certified and first operational processor supporting reload (1) To load a program from disk into memory once again in order to run it. Reload is entirely different than reinstall. Reinstall means that you have to run the install program from a CD-ROM or floppy disk and perform the installation procedure over again. transactions on a leading international card association's prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. card load network. Metavante is the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE NYSESee: New York Stock Exchange : MI). On Dec. 4, 2006, the card association issued a news release in which it stated the prepaid load network allows consumers to add funds to eligible re-loadable prepaid cards at participating retail locations. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the announcement, the service has been introduced at more than 1,550 retail locations nationwide including participating Safeway, Carrs, Dominick's, Genuardi's, Pak 'n Save, Pavilions, Randalls, Vons and Tom Thumb Tom Thumb, 1838–83, American entertainer, whose original name was Charles Sherwood Stratton, b. Bridgeport, Conn. His career as General Tom Thumb began in 1842, when the showman P. T. stores. Processing reload transactions allows Metavante to help prepaid card issuers, such as financial institutions, realize the full potential of the checking account alternative that enables electronic payment card transactions for the un- and under-banked population. As Metavante helps make it easier for cardholders to reload eligible prepaid cards at convenient retail locations, a financial institution can benefit from increased card use, promote its brand with un- and under-banked consumers to potentially develop a traditional banking relationship, and gain wallet-share of a consumer otherwise out of reach. "Without convenient reload, prepaid cards have largely been disposable, which limits their ability to act as a full-service alternative to a checking account and the accompanying payment cards," said Frank D'Angelo, group president, Metavante Payment Solutions. "Marrying expedient reload to prepaid cards creates the opportunity for people without a traditional banking relationship to carry a full-fledged payment card that's arguably ar·gu·a·ble adj. 1. Open to argument: an arguable question, still unresolved. 2. That can be argued plausibly; defensible in argument: three arguable points of law. as easy to reload as a checking account." According to a recent Celent payments industry analyst report: "There are an estimated 14 million un-banked households in the U.SOand [prepaid debit] holds value because it stands to capture segments of the market other electronic payments [credit and debit] could not otherwise touch. This is particularly the case among the un-banked and youth populations that have limited access to such accounts." 1 "Every year card-based payments chip away at the market share of cash and checks and the advent of online shopping and electronic payments has accelerated that trend. By supporting an easier way to reload prepaid cards, Metavante helps open the world of online transactions to consumers such as teens, who often have disposable income disposable income Portion of an individual's income over which the recipient has complete discretion. To assess disposable income, it is necessary to determine total income, including not only wages and salaries, interest and dividend payments, and business profits, but also to spend," added D'Angelo. "Metavante offers the most comprehensive suite of payment solutions and as evidenced by our support of prepaid reload, we continue to provide and support the newest payment technologies." About Metavante Metavante Corporation delivers banking and payments technologies to financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. , consumer healthcare payments, and electronic presentment and payment. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI). 1 Celent, "The Future of Consumer Payments," Nov. 2006, Ariana-Michele Moore, Senior Analyst. Metavante is a registered trademark of Metavante Corporation. All other trademarks are the property of their respective owners. |
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