HP Opens New Market Opportunities to Banks with Prepaid Card Services

PALO ALTO, Calif.--(BUSINESS WIRE)--HP (NYSE:HPQ) today announced new services that provide banking clients with a flexible, secure, self-service and cost-effective payment delivery solution for prefunded cards.

“HP provides financial services clients with highly flexible prepaid card solutions featuring innovative self-service capabilities that increase cardholder satisfaction while lowering costs for call centers.”

The HP Prepaid Card Services provide clients with:

• Increased simplicity by using a platform that provides a single view of the portfolio, thereby driving efficiency in customer service and standardizing back-office operations across products.
• New market opportunities by allowing banks to provide card-based payment services, regardless of a consumer’s credit eligibility. Prepaid cards create new revenue streams by enabling banks to meet unique market opportunities that exist within corporations, retailers, healthcare organizations, transportation agencies, universities and government entities.
• Inventory management that allows clients to deploy cards that contain no value until assigned and activated. A logistics management function tracks inventory levels, automatically reorders cards and dispatches cards when they are needed.
• Fraud protection that reduces client exposure to losses by applying advanced fraud monitoring tools on the transactions. The HP Prepaid Card Services support the latest EMV Chip and Pin requirements, thereby reducing the possibility of creating counterfeit cards or fraudulent transactions.

“As consumers and businesses increasingly use debit and prepaid cards as money-management tools, banks need the ability to provide their clients with cost-effective prepaid solutions,” said Sean Kenny, senior vice president, Industry Services, HP Enterprise Services. “HP provides financial services clients with highly flexible prepaid card solutions featuring innovative self-service capabilities that increase cardholder satisfaction while lowering costs for call centers.”

HP Prepaid Card Services add a comprehensive suite of modules across the entire life cycle of pay-before products, offering web-enabled services such as:

• An inventory management system tracks the complete life cycle of the card, providing clients with the assurance that they have card inventory ready for distribution;
• A self-service customer portal enables cardholders to easily enroll their cards securely with their issuing bank, view their transaction histories, add funds, change their PIN and report lost or stolen cards;
• A client brand able customer service portal allows simple and secure access to cardholder profiles and transactions to address customer inquiries.

HP Prepaid Card Services are an extension of the HP Cards and Payments Services portfolio, which supports an extensive range of debit, credit and now prepaid options, including the capability to use multiple currencies on a single card.

By enabling funds to become immediately available to consumers, HP Prepaid Card Services help financial institutions and businesses across a variety of industries and governments in their pursuit of an Instant-On Enterprise. In a world of continuous connectivity, the Instant-On Enterprise embeds technology in everything it does to serve customers, employees, partners and citizens with whatever they need, instantly.

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure at the convergence of the cloud and connectivity, creating seamless, secure, context-aware experiences for a connected world. More information about HP is available at http://www.hp.com.

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