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The new Visa Reloadable Prepaid Debit Card will be available in Winn-Dixie Supermarkets next month, prepaid card solutions provider nFinanSe, Inc. said yesterday. The deep-gold card in stylish metallic blue packaging was designed to attract the eye of consumers approaching a retail store display fixture.
According to Tampa, Fla.-based nFinanSe, another goal of the card was to boost the transparency of fees for consumers. “We have worked hard to bring a consumer-friendly approach to the prepaid card industry and have been a leader in establishing best practices such as low fees and free 24/7 customer service — and [are] now extending that leadership to drive more transparency of associated fees for consumers,” noted nFinanSe chairman and CEO Jerry R. Welch.
The card will feature what the company calls the best overall pricing in the marketplace currently. Selling for $3 at Winn-Dixie, the card won’t charge the consumer any fees on purchase transactions, will have a $2.95 monthly maintenance fee for an unlimited number of purchase transactions, and enable consumers to load further funds for $2.95.
Additionally, the card will charge a customer $1.50 to withdraw funds at an ATM, but will provide free direct deposit of payroll, free receipt of bank transfers to the card, free live customer service in English and Spanish, and free cell phone text message alerts with purchase and balance information after each transaction.
All major fees will be clearly displayed on the packaging so that consumers can gauge the costs of using the card and compare them with those of competing items. “Our industry is still in the early stages of development, and we believe that as many as 100 million adults have a need for a reloadable prepaid card,” noted Welch. “Accordingly, we have designed our card for mass appeal, and are focused on creating trial and usage for our product through our aggressive pricing.”
This card will be issued by Palm Desert National Bank, pursuant to a license from Visa U.S.A., Inc.