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Benefits Cards
The MCC Benefits Card can be provided by insurance companies
and government agencies as an alternative to sending checks for
claims and benefits. Insurance claims can be made available on
a card rather than processing a check. Government agencies can
make Welfare, Social Security/Insurance, and similar benefits
available, especially to citizens who do not have a banking relationship.
Program Description
The Benefits Card is a cost-effective alternative to providing
claims and public benefits via check. The value of a claim is
made available to the cardholder, who can access funds conveniently
at ATM and POS terminals.
Target Market
Insurance companies, local, state, provincial, and federal government,
HMOs, and other companies and corporations can issue a Benefits
Card to offer insurance claim benefits, issue welfare, Social
Security/Insurance, Worker,s Compensation or similar government-funded
benefits, issue insurance refunds from HMOs, and issue flexible
spending benefits. There is an unlimited market for all insurance
and benefits that are issued. The "unbanked" are a
key target for electronic benefits or Social Security/Insurance.
Features
 Disposable
or reloadable via batch file or ACH
Branded
with Visa® or MasterCard® logo
ATM
and POS terminal access
Optional
expiration date
Card
personalized for account holder
Cards
can be sent direct mail or bulk shipped
Custom
card design is available
Account
balance and activity can be accessed via Internet or VRU
Consumer Benefits
Easy
to access funds at ATM and POS terminals
Limited
liability
No
need to cash or deposit a claim or benefit check
Can
monitor spending activity and balance via Internet
Issuer Benefits
Lower
expenses
Opportunity
to earn additional revenue
Expand
cross-sell opportunities with organizations
Turnkey
program setup and management |
