Prepaid cards come of age

Prepaid cards offer control, visibility and branding opportunities.
Jason Tiede, Citi's regional head of wholesale cards
Jason Tiede, Citi's regional head of wholesale cards

Corporate cards have come a long way since the basic travel and expenses TE model. Spending control remains the driving force behind many corporations’ adoption of corporate cards, but prepaid cards can now provide companies with data, sales incentives and even branding opportunities. Government entities are also getting in on the act as they seek more efficient ways to issue social benefits and subsidies.

Starting life in the US about 20 years ago and finding its legs in Asia-Pacific in the last five, Citi’s prepaid model plays second fiddle to the much larger and more mature commercial card business, though it is growing fast. The bank’s global transaction services GTS wholesale cards business,...

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