SVM Expands Virtual Prepaid Payments With New Brand
SVM has announced a new virtual open-loop prepaid card that can be used at retail using Apple Pay, Android Pay or Samsung Pay. The card will leverage SVM’s new SVM Link application that connects loyalty and incentive channel buyers and their card recipients with the major mobile wallet providers. As with closed-loop eGift cards, SVM Link virtual open-loop cards can be delivered in near real-time. SVM Link enables them to be provisioned into a mobile wallet and made available for payment in-store in just minutes. “Virtual prepaid cards that can be used in-store closes the payment gap in the prepaid card space,” says John Cullen, Vice President of Innovation and Marketing, adding that the B2B channel has been looking for an innovative solution for virtual open-loop cards, and he believes that SVM has delivered with SVM Link.
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