TransCard Announces, Switch for Free, a Turnkey Bank and Prepaid Processing Solution for Members of the Prepaid Community

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Now through March 31, 2011, TransCard will waive the implementation fee for program managers and ISOs that join the program*.

“We are looking for high quality and reputable program managers that are looking for a partner to help them scale their business. We don’t want the economics of switching to a new solution to be prohibitive for program conversion”

This solution is offered to program managers that are with existing processors and issuers and have portfolios of business they wish to convert to a new issuer and processor. The bundled solution makes it easy for customers that have portfolios of cards and want to find new partners, but don't want to pay for bank and processing implementation fees.

“We are looking for high quality and reputable program managers that are looking for a partner to help them scale their business. We don’t want the economics of switching to a new solution to be prohibitive for program conversion,” Craig Fuller, CEO of TransCard stated.

In addition to providing free implementation to qualified program managers, TransCard will pay for any bank related implementation or on-boarding fees.

To qualify, the program manager must have established portfolios with $1 million dollars in annual spend, be in business for more than 2 years, and be a registered ISO of a network association. The program is targeted towards high-quality reloadable prepaid portfolios.

Switch For Free is also available to banks that wish to convert their prepaid agent program to a direct issuer program through the Community Bank Prepaid Program, partnered with Business Solutions, a subsidiary of the American Banker’s Association.

For more information on Switch For Free, please visit: www.prepaidcommunity.com
For more information on the Community Bank Prepaid Program, please visit: www.prepaidissuer.com

About TransCard

TransCard (www.transcard.com) provides custom, turnkey prepaid programs for corporate, non-profit and government organizations. TransCard is one of a few privately held core processors in the world, providing prepaid debit card solutions branded with MasterCard®, Discover®, STAR and PULSE associations. The company specializes in on-demand prepaid programs using a sophisticated proprietary technology platform that was built in-house to meet the unique needs of clients in various industries. Along with the most robust suite of value-added cardholder benefits - including mobile banking, online bill pay, free credit scores and a Personal Financial Management tool that budgets, tracks spending and has customizable widgets-in prepaid, TransCard offers 24/7/365, live, bilingual customer service and a check-free online account accessed through an easy-to-use website.

* Programs are subject to successful approval of program application.