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Banco do Brasil Americas launches EMV prepaid card

09 June 2014  |  1911 views  |  0 Source: i2c

I2C, Inc., a provider of payment processing and emerging commerce solutions, and Banco do Brasil Americas have partnered to launch the Banco do Brasil Americas Multi-Currency prepaid MasterCard (BBA Prepaid Card). A general purpose reloadable prepaid card, it is ideally suited to meet the financial needs of consumers that travel internationally.

The BBA Prepaid Card supports both EMV chip and magstripe technology which ensures its acceptance in the United States and abroad anywhere MasterCard is accepted. Many countries outside of the United States have adopted EMV chip technology for its increased security and fraud prevention capabilities. The card's dual EMV/magstripe support eliminates the need for consumers to carry cash or additional payment cards when traveling to other countries.

The card's multi-currency purse functionality provides additional convenience for international travelers. A unique feature enabled by the i2c processing platform, it allows cardholders to transfer funds into other currencies and store them in purses, or sub-accounts, directly linked to the card. By using multi-currency purses, consumers can lock-in favorable exchange rates while avoiding the hassles and risks associated with carrying and exchanging paper currency. The BBA Prepaid Card currently supports US Dollars, Brazilian Reais, Canadian Dollars, Euros, British Pounds Sterling and Australian Dollars.

Banco do Brasil Americas President and Chief Executive Officer, Cassio Segura, says, "We strive to create financial products and services that are convenient, cost-effective and safe for consumers. By working with capable partners like i2c, we were able to integrate a number of useful features into the prepaid card so that it delivers these benefits."

"Consumer-centric financial institutions like Banco do Brasil Americas place a premium on tailoring their products to meet the varying needs of their consumers," says Amir Wain, chief executive officer, at i2c. "The execution of this philosophy requires the support of a processor with unique capabilities that can be customized and deployed quickly. We are happy to be serving Banco do Brasil Americas in this capacity on another innovative program."

Consumers can load funds to the BBA Prepaid Card via online account transfer, and cash can be accessed surcharge-free by using the card at Banco do Brasil Americas-branded ATMs. Self-service cardholder support is available in English and Portuguese and live agent service is available in English, Portuguese and Spanish.

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