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CoreCard® Processing Platform Adds New Features …Supports Clients' Prepaid Offerings to Community Banks and Credit UnionsCoreCard Software, a leading provider of card management systems and processing services, today announced three new features designed to increase the ease of use and marketability for clients providing prepaid solutions to community banks and credit unions. The features include: multiple card sales with receipt, reseller hierarchy and floating teller/user support across multiple bank branches. CoreCard's processing solution now includes the following features and benefits.
"We developed our platform to support many industries and their unique business operations. For our processing customers, it is essential to continue to offer new features with easy to use interfaces," said Leland Strange, CEO of CoreCard. "Our platform is highly configurable with thousands of parameters used to setup unique prepaid or credit programs, without incurring customization or dedicated hosting costs. These parameters combined with our wealth of APIs, continue to make us a unique partner and allowus to assist providers or "disruptors" in a growing market." As a unique partner for FinTech disruptors, CoreCard's flexible and cost-effective processing platform has one of the most extensive collections of APIs. These APIs, combined with the team's experience, provide quick onboarding for new customers, while at the same time, allow current customers to scale and efficiently add new features. Prepaid Market Growth According to Mercator Advisory Group, the prepaid market will continue to grow - in 2012, roughly 12 million Americans used a prepaid card at least once a month and collectively loaded $65 billion to their accounts - double the amount loaded just three years prior. Those figures rose to 23 million users loading $76.7 billion in 2014. Mercator Advisory Group projects $343 billion loaded to prepaid cards in 2018. Additionally, according to ICBA, Independent Community Bankers of America, while overall growth of prepaid cards is surging, largely due to the emergence of non-bank competition, community banks have yet to offer prepaid cards on a large scale. About half (48 percent) of community banks offer some sort of prepaid product, and those banks offer gift (43 percent), travel (24 percent), general-purpose reloadable (12 percent), and payroll cards (2 percent). ICBA anticipates an uptick in community banks' participation due to overall growth of the market. About CoreCard CoreCard Software, a leading provider of card management systems and processing services, offers an array of account management solutions to support the complex requirements of the evolving global financial services industry. The CoreCard® software solutions provide the market's most feature-rich platform for processing and managing a full range of card products including prepaid/stored-value, fleet, credit, debit, commercial, government, healthcare and private-label cards as well as accounts receivable and loans. About 70 percent of the debit, credit and gift card transactions in the U.S. each year are processed by companies in "Transaction Alley" GA. CoreCard, located in Transaction Alley, is headquartered in Gwinnett Innovation Park in Norcross, GA with additional offices in India and Romania. CoreCard is a subsidiary of Intelligent Systems Corporation [NYSE MKT: INS]. For more information, call 770-564-8000 or visit www.corecard.com. View source version on businesswire.com: http://www.businesswire.com/news/home/20160831005116/en/ |