Providing prepaid alternatives to traditional banking

Prepaid products are rapidly changing financial services as consumers realize that they offer greater value and convenience. Blackhawk Network has been a leader for this transformation by bringing together a broad selection of general purpose reloadable (GPR) cards in one place, developing a proprietary reload network that’s one of the largest and lowest-priced, and providing added levels of convenience with remote check deposit and direct deposit features.

The market for GPR products

Traditional banking products don’t work for a large segment of the population and that segment is seeking an alternative to big financial institutions. GPR gives un-banked and under-banked consumers an alternative that doesn’t require a credit check or an existing bank account. Consumers receive all of the advantages of a card that’s accepted throughout the issuer’s (e.g., Visa) network without overdraft fees.

12% Growth

of GPR in 2012, the fastest growing prepaid segment

Source: Mercator 2013 Open Loop
Prepaid Assessment, 2013.

$194 Billion

loaded onto open-loop cards
in 2012

Source: The 10th Annual U.S. Open-Loop Prepaid Market Assessment, Mercator, August 2013.

Other consumers like the convenience of budgeting that GPR cards provide and the ability to spend only what’s available on the card — no overdrafts ever. Parents use the cards to conveniently provide funds and control the spending of teens or college students. And travelers and online shoppers choose them as a safer alternative to credit cards, cash and checks.

By offering a suite of GPR products via permanent display fixtures that are designed for the way people shop, retailers can attract more of these value-seeking consumers. And sales in this category usually go well beyond a one-time purchase, as consumers visit frequently to reload their cards. Blackhawk Network also helps drive additional sales through in-store promotions that motivate people to purchase GPR cards during key times of the year, such as during tax season when consumers can have their refunds directly deposited onto a card or in the fall when students are returning to college.

The most in-demand brands

The most in-demand brands

In addition to offering a large selection of GPR products under one roof, Blackhawk Network also offers PayPower, its own proprietary brand with desirable features and pricing.

PayPower

PaypowerThe PayPower product suite gives consumers a full-featured, reloadable Visa debit card. This includes an Everyday Spend card that includes free direct deposit and online or phone bill pay; the TravelMoney card with travel and emergency services built in; and the Spanish-language general card, Tarjeta. Cards can be activated online or by phone. Top-up on the cards can take place via Reloadit or the Visa Readylink network, or on mobile devices. Learn more about PayPower.

Our proprietary cash-in network — Reloadit

ReloaditBlackhawk Network makes it easy and secure for consumers to add value to their GPR cards by making Reloadit packs available in retail locations. The Reloadit Safe feature also lets consumers load multiple GPR cards from a single pack — the only network that offers this feature — and pay bills from their card.

Consumers simply purchase a Reloadit pack to load anywhere from $20 to $950 onto their GPR card (maximum amount varies by retailer). They can then go online — including via a mobile device — or call a toll-free number to add the money to their cards.

Cardholders can load money onto more than 150 unique cards including some of the most popular brands. Learn more about Reloadit.