Three US banks are beta testing a new stored value card programme from the Pulse EFT Association.
First Tennessee, BancorpSouth, and International bank of Commerce are road-testing the Pulse Access system which is designed for financial institutions to deliver their own customised, stored value programme. The package is applicable to the usual family, gift and payroll cards, as well as more innovative programmes, including travel, promotional/incentive and medical savings/flexible spending.
First Tennessee and BancorpSouth are testing the water with gift cards, while IBC is marketing a new stored vale payroll card.
Stored value programmes are growing rapidly in the US with an estimated $1 trillion market opportunity.