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e-CommLink has been named one of MasterCard International's strategic alliance partners for MasterCard(R) stored value payment programs. As part of the agreement, e-CommLink will offer MasterCard customer financial institutions both business and consumer stored value services to support issuer programs including payroll, insurance, healthcare, government, money transfers services, corporate and merchant cards, consumer general-purpose, gift and travel.
e-CommLink's advanced processing platform maximizes the value proposition and service matrix of both online and offline financial transactions. Through existing magnetic stripe technology, the e-CommLink platform allows prepaid cardholders to access their stored monetary value for payments at merchant card acceptance points worldwide. In addition, the platform allows funds to be reloaded through multiple channels -- by telephone, at the point of sale and on the Internet.
"One of the most exciting aspects of our payment platform is the delivery of cost effective services in the space of person-to-person and person-to-business payments," said Grace Chen, e-CommLink chairman and CEO. "Our strategic partnership with MasterCard will enable us to help MasterCard stored value issuer institutions better serve current customers while also reaching historically underserved or non-banked populations."
"As the stored value category continues its explosive growth, payment platforms provided by partners like e-CommLink have proven vital in meeting evolving consumer payment needs," said Ted Dargan, vice president of emerging markets for MasterCard International. "We look forward to eCommLink making its services and platform available to our customer institutions."