KBC Bank introduces pre-paid cards in Belgium

Source: KBC Bank

KBC Bank (a member of the KBC group) has launched prepaid cards on the Belgian market.

These cards will not be sold in KBC's retail network but by two external partners, the SwingGroup and Blue Ocean, who will be responsible for marketing, sales and distribution. The prepaid cards will be accepted in more than 27 million locations in the entire MasterCard network. In order to promote electronic payments above cash, cash distribution via ATMs is not supported. Transactions are authorised by checking the card's balance, the details of which are stored in a prepaid database. Atos Worldline will manage the database and process the transactions.

Following market developments and in its continuous search for customer friendly products, KBC Bank was eager to gain more experience in prepaid cards. At the same time, both partners of KBC spotted commercial opportunities for prepaid cards in their respective customer segments. By partnering with KBC, they can take advantage of the bank's experience in the cards business. KBC will issue the prepaid cards and provide the commercial partners with the guidance needed to perform optimally in the world of cards. This cooperation is a win-win situation for all parties involved.

KBC's prepaid partners, SwingGroup and Blue Ocean, each focus their prepaid cards on specific target markets.

SwingCard: the ultimate gift for business relations

SwingGroup is the Benelux market leader in online incentive solutions. With five effective solutions they motivate their customers' employees, clients, sales force and resellers. Continuously looking for better solutions, in June 2008 they launched the single load SwingCard as a gift card for the business-to-business market. SwingCard is an anonymous magstripe card that has maximum value of 125 euros and is valid for thirteen months. The greatest benefit for the recipient is the complete freedom to spend the value of the card anywhere in the MasterCard network. As a result, the recipient is maximally motivated to perform even better! Another advantage for the donor is that by giving a standard or fully personalised SwingCard, the company remains in the wallet of the employee, customer or dealer for a long time - and in their thoughts too. In November 2008 reloadable SwingCards, containing the cardholder's name and secured with a chip and a pin code, will be launched.

BillyCard: fun to give, great to get

Blue Ocean is a brand new company established to introduce new products and business formats in the market. Blue Ocean focuses on introducing virtual prepaid gift cards under the brand name 'Billy'. BillyCards are anonymous, are valid for one year and have a maximum value of 125 euros. The virtual BillyCard can be used in all internet shops accepting MasterCard payments. The BillyCard targets a wide public that wants to shop online. Thanks to the BillyCard this can be done in a completely safe and controlled way. Providing secure access to e-shops, the BillyCard will be both popular as a gift or for personal use.

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