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Products
Visa seeks patent to boost prepaid card processing
SAN FRANCISCO (9/11/12)--Visa is seeking a patent to create a rewards program for prepaid cards.

Under the proposal, a prepaid card user could invite another person to become a card owner (Investment Weekly News Aug. 30). The person sending the invitation would receive a reward for referring the person invited, with the amount or timing of the reward related to the invited person's amount in using the new account.

The invitations would be sent through e-mail or social media.

The account holder who sent the invitation could transfer funds to the new account holder card.

The rewards program is designed to increase penetration of prepaid cards and may lead to a long-term relationship between the issuer and the new customer, Visa said.


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