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It was 2009, after two years of developing and fine-tuning his model, Andrew Siden, the founder and CEO of Prepaid Ventures, launched NexsCard, a prepaid debit card, in the market. NexsCard enabled the customers of check cashers to load cash onto a network-branded prepaid card at their local check casher, or receive direct deposits, and use the card anywhere Visa brands are accepted (Prepaid Ventures exclusively partners with Visa to provide its prepaid card solutions). In addition to the cardholder benefits, NexsCard agent check cashers were able to keep their check cashing revenue, retain the customers that they would otherwise have lost to direct deposit and grow their revenue streams by offering NexsCard.
Over time, Prepaid Ventures began reinvesting the profits earned from NexsCard into its own processing platform which included mobile applications, cardholder websites, and more as Andrew Siden explains, “We really work hard to provide our customers with products and services that work for them. We even built an in-house call center to provide our customers with a more personal experience from our own employees who use the card every day.”
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With our remote deposit capture product, mobileteller, cardholders can interact with their local check cashers from wherever they are without the need to drive across town
Customer experience has been a major driving force behind Prepaid Ventures’ success. From full-service program management to consultative services, the company strives to deliver excellence and an unrivaled customer experience. Prepaid Ventures also collaborates with several different supply chain providers which results in a seamless, vertically integrated solution in a complex marketplace. The uniqueness of the company stems from its customized consultative client and customer approach, coupled with the agile methodology it brings to the table. With a consultative approach to understanding client use cases, Prepaid Ventures aims to partner with clients to provide a solution that suits them best.
In an age when companies are striving to capture a space in the prepaid payments industry, Prepaid Ventures is breaking through the noise in a cluttered market by delivering its innovative solutions in a way the meets customers’ demands.
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Company
Prepaid Ventures
Headquarters
New Hyde Park, NY
Management
Andrew Siden, CEO
Headquartered in New York, Prepaid Ventures provides financial products and solutions in an emerging payments landscape. In 2009, the company launched NexsCard, a prepaid debit card, that enabled the customers of check cashers to load cash onto a network-branded prepaid card at their local check casher, or receive direct deposits, and use the card anywhere Visa cards are accepted. Later, the company built its own processing platform, which included mobile applications, cardholder websites, and more. As one of the top payment and card solution providers, Prepaid Ventures also collaborates with different supply chain providers to introduce seamless, vertically integrated solution in a complex marketplace