Canadian retailers offering new flexibility with open loop card addition in-store
PLEASANTON, Calif. – February 21, 2023 – With the mission of supporting the expansion of payment options across Canada, Blackhawk Network (BHN) has launched its Joker Prepaid Visa open loop cards that give retailers across Canada the ability to sell open loop cards to in-store shoppers. Boasting no maintenance fees for consumers, the Joker Prepaid Visa marks the first collaboration between BHN and Equitable Bank. The capability to sell these cards in-store allows retailers to engage with consumers at multiple marketing touchpoints within the physical retail environment.
Available at popular retail locations across Canada, the new Joker Prepaid Visa card gives consumers who prefer open loop prepaid the flexibility to spend and shop as they choose.
“Consumers are looking for flexibility, ease, and choice in the way they pay,” said Brian Weiner, Vice President and Head of Product at Visa Canada. “We support this collaboration with Equitable Bank and BHN and look forward to working together as we continue to infuse smart solutions into the payments ecosystem.”
Additionally, the new Joker Prepaid Visa card allows for Original Credit Transactions, helping consumers to receive limited transfers to their card.
“Partnering with BHN is a fantastic opportunity to help expand the number of financial tools available to consumers,” said Mahima Poddar, Group Head of Personal Banking at Equitable Bank. “We place a high value on forging strong partnerships that bring better, smarter options to the market; options that not only make transactions more seamless, but that shake up the traditional financial landscape for the better.”
With the launch of the Joker Prepaid Visa card, BHN is helping to make payment options easier for Canadians, bringing new tools for retailers to support access for consumers who use open loop prepaid cards for online shopping and self-use. BHN’s technology enables retailers to provide their shoppers with more prepaid options and the potential to drive incremental spending at checkout and greater convenience for consumers.
“Continuing to bring innovative payment solutions to life in Canada has been an important focus of our team,” said Steve Dekker, Managing Director, Americas at BHN. “This new solution provides retailers with a great opportunity for revenue and traffic growth, while giving consumers a convenient solution. Our commitment as an innovative payments leader is to propel the growing trends in digital payments and consumer demands in Canada and across the globe.”
BHN is accelerating the digital payments transformation with the adoption and expansion of digital wallets, mobile apps and contactless payments. To learn more about BHN’s suite of innovative payment solutions, please visit our website.
About Blackhawk Network (BHN)
Blackhawk Network (BHN) delivers payment solutions through the prepaid products, technologies and network that connect brands and people. We collaborate with our partners to innovate, translating market trends in payments to increase reach, loyalty and revenue. We reliably execute security-minded solutions worldwide. Join us as we shape the future of global branded payments. Learn more at blackhawknetwork.com.
About Equitable Bank
Equitable Bank, Canada’s Challenger Bank™ is a wholly owned subsidiary of EQB Inc. which trades on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C) and serves more than 370,000 Canadians. Equitable Bank’s wholly owned subsidiary Concentra Bank supports credit unions across Canada that serve more than 5 million members. Equitable Bank has over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people’s lives. Founded over 50 years ago, Canada’s Challenger Bank™ provides diversified personal and commercial banking and through its EQ Bank platform (eqbank.ca) and has been named the top Schedule I Bank in Canada on the Forbes World’s Best Banks 2022 and 2021 lists. Please visit equitablebank.ca for details.
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