Ixaris, an innovator in global electronic payments, today announces the launch of Opn Cardworks, a payment application which enables businesses to quickly set up a personalised prepaid card programme and embed it into their own online and mobile payment services.
Opn Cardworks is the only service of its kind that allows customers to rapidly create a fully customisable prepaid card programme - virtual or plastic - out of the box. Ixaris Opn Cardworks provides all of the necessary infrastructure and supporting services, including all the necessary banking partners as well as a comprehensive risk and compliance platform to ensure that its customers meet obligations such as KYC checks. Because Ixaris Opn Cardworks provides an end-to-end solution, it offers a more cost effective and faster-to-market alternative to more mainstream card services on the market today.
In addition CardWorks programmes come complete with APIs to support integration into websites and mobile apps giving organisations access to greater flexibility and can easily embed the card programme in their own applications. For example, customers can offer remittance services to their end users, allow customers to claim funds onto a virtual or plastic prepaid card and receive updates on their account through an online portal or SMS.
Alex Mifsud, CEO of Ixaris, stated: "We're really excited to launch Opn Cardworks at this year's Finovate. It is the newest innovation for our award-winning open payment platform, Ixaris Opn. As the growth of mobile apps and services continues, there is an increasing demand for integrated solutions that can improve the speed and efficiency of payments through these channels. Opn Cardworks will enable merchants of all sizes to further extend their payment applications through an extremely cost-effective prepaid card service."
Speed to market
With Opn Cardworks, companies can typically integrate a virtual card programme into their existing service within one month, and a plastic card programme in up to two months. This compares to a typical deployment of six to twelve months.
Additionally, Ixaris Opn remains the only payment platform to offer payment products that can incorporate virtual and plastic cards from both the Visa and MasterCard card schemes, as well as inbound and outbound global bank transfers through SWIFT and local ACH networks.
Flexibility of the solution
Businesses can pick and choose from a wide range of options to personalise their card programme including multiple card types, currencies, credit limits and fee structures. The card style, image and branding is also fully customisable. The Opn Cardworks administrative console also allows organisations to configure various technical components for their card programme on an on-going basis, according to their specific needs.
Opn Cardworks also offers full visibility into user payment behaviours, enabling clients to monitor activity on the card and advise customers of their balance in real-time, or provide information on their transactional history. This valuable customer insight also enables financial services providers to market to their users more effectively.