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2022 Prepaid Card Growth Projections Swing Door Open Wide for Adoption of White Label Programs, including Those Offered by KnowByLity, LLC

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2022 Prepaid Card Growth Projections Swing Door Open Wide for Adoption of White Label Programs, including Those Offered by KnowByLity, LLC

July 14
20:45 2021

Brussels, Germany – This past November, the leading card and mobile payment industry trade publication, The Nilson Report, announced growth projects for the niche that likely have marketing executives around the globe taking a fresh look at their brand public relations plans to factor in white label prepaid card programs as a driving tactic. They need search no further for expert support than one of the fastest-growing leaders in the field: KnowByLity, LLC. The company is a global provider of end-to-end payment solutions that include Mastercard® and Visa® prepaid cards.

With spending on goods and services via prepaid, debit and credit cards expected to grow from 2018’s $7.2 trillion to $10+ trillion by 2023, KBL executives say that the number of companies adopting white label prepaid card programs is also on the rise. Afterall, prepaid cards bearing the name and logo of businesses, provide visibility for the brand every single time the card is used. And that visibility is proven to drive customer loyalty, brand visibility and even, revenue. Branded prepaid cards encompass gift cards, travel cards and general use prepaid cards and are used by businesses to pay commissions, reward loyalty, and distribute compensation to their own customers, agents and affiliates while also offering a cost-effective alternative to traditional corporate payroll programs and investment advisory services.

“We launched our White Label Program to provide the expertise needed to ensure our clients can enjoy the brand and revenue benefits of customized prepaid cards – without having to spend their valuable time and efforts in an area where they are not specialized,” explained Steve Foster, CEO, KnowByLity, LLC.

KBL builds programs according to client specifications and gets those up and running in as little as four months, while it may take novices years to activate a program. Sophisticated digital tools are at the heart of the company’s business model to ensure efficient card program management with an emphasis on security and compliance safeguards vital in the fintech arena. 

Each card includes custom card design along with current fee structure, fund distribution channel and mobile and desktop solutions. The program’s front-end comprises a website and web portal tied into iPhone and Android apps for card management, sending payments, and any enhanced card services. Its back-end comprises administrative portals, API connections and secure encryption for sign-ups, KYC, sponsor banks, call centers and fulfillment centers.

KBL also has single and multi-currency card white label programs that are used via an app or physical card worldwide. The cards include features like card-to-card payments, ATM access, a rewards program, direct deposit load, generated statements, around-the-clock service, fraud protection, virtual card access and SMS/email alerts.

“It’s clear that the state of the prepaid card market is very bright indeed and we are here to put our expertise to work to help clients use that to their advantage,” added Foster.

About KnowByLity:

KBL offers comprehensive mobile and desktop platforms tailored to clients’ varying needs along with customer experience platforms. Its software solutions ensure white label programs are rich in features and functions, simple to use, graphically appealing, and above all else, compliant with all financial services’ regulatory requirements.

For more information on KBL and its solutions, please visit www.kblholdings.com and www.bancked.com.

Media Contact
Company Name: KnowByLity, LLC
Contact Person: Gretchen Miles
Email: Send Email
Phone: 00.1.844.925.5389
Country: Germany
Website: www.kblholdings.com

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