Refund Cards

There are a number of reasons to issue a refund using a Prepaid Card, it may be that the person requesting the refund cannot provide a receipt or the goods purchased. You do not want to issue cash for this refund as this means you may never see that revenue again. In this circumstance a number of retail clients we have worked with would simply offer a credit note or a paper voucher.

This process works for a lot of retailers however when we ask them to show us what the liability outstanding on such devices is and they may very well struggle to tell you.

If this refund was issued on a Prepaid Card however, the answer would be very simple to produce. All prepaid card products will have a store value system behind them, therefore the answer will be stored and can be reconciled in real time 24/7.

This process would typically use a closed loop system however in reality as long as the dynamics behind this are considered it could equally work on a scheme branded product. The catch of course would be that once on a scheme branded product the funds could be spent anywhere that accepts that brand.

European Prepaid can help you define the best solution for your business so please contact us to find out more.

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