Kiwibank, one of the major banks in New Zealand, has chosen to work with eFunds, the company that delivers innovative payment processing and information intelligence solutions, to launch and manage the Prezzy Card, a prepaid Visa gift card.
Terese Tunnicliffe, General Manager of Payment Services at Kiwibank comments on choosing eFunds: "eFunds has considerable experience in prepaid, particularly in the United States where it is already well established as a method of payment. We were confident that we would be able to take advantage of this international knowledge to launch a product which would suit our local customers. eFunds worked closely with our own staff to design and implement the Prezzy Card scheme, and will continue to provide an end-to-end outsourced processing solution for our prepaid operation."
The Prezzy Card can be purchased from over 300 participating New Zealand PostShops. It is easy to buy and use and offers a convenient gift option as, unlike gift vouchers, it can be redeemed anywhere that Visa is accepted, including online.
"Banks can leverage their existing network of branches and card knowledge to introduce a prepaid card product like the Prezzy Card," says Michael Flynn, managing director, eFunds prepaid Asia Pacific. "This presents a great opportunity to offer existing and prospective customers a new, convenient product and bring in a fresh source of income. We look forward to working with Kiwibank as prepaid grows in New Zealand."