If you have a trusted broker and excellent trading strategies, trading the foreign currency exchange market can be a profitable though challenging endeavor. Typically, if a client wants to spend their profits, they must first transfer them from their forex brokerage account to their personal bank account. This process tends to be full of fees and hurdles. Many forex providers are switching to prepaid cards as more efficient payout solutions for their investors. Below are 6 reasons why they’re switching to prepaid cards:
- Immediate Payouts
With prepaid cards, forex providers can immediately send money to their clients. Clients can then access their funds instantly online, in-store, and at ATMs anywhere in the world. This convenient access gives forex brokers an advantage in both customer satisfaction and retention. In addition, card loading can be easily integrated into an existing FX platform with the use of an API, and loads can be made at any time.
- High Load Limits
Prepaid cards give your clients the ability to use their forex profits instantly, plus your clients are able to access large amounts of cash with the use of their cards. Load limits on prepaid cards can be quite high, with some providers allowing a limit as high as 50,000 USD. This access to cash flow provides your clients with opportunity and heightened spending power.
- Branded Results
White label prepaid card solution boast deliverables such as mobile applications, multi-lingual support, IVR/SMS systems, and cardholder and marketing websites, all fully customised to your brand’s look and feel. These additional services make white label prepaid cards an ideal and fully customised payout solution for all forex needs—they are user-friendly, cost-effective, and make streamlining payout management a breeze.
- Economical Rates
Typically, prepaid card providers offer better, more economical payout rates than traditional bank transfers. These savings add up quickly, especially for those brokers with regular or fixed currency flows. For those providers who are client-facing, these savings can be passed directly on to your investors, adding value to your product with no additional work.
- Effortless Payment Reconciliation
Prepaid cards providers offer precision when reconciling payment activity, making payout management effortless and trouble-free. They provide clear layouts, including reconciliation reports, which record all events that change the balance of the float account, and load history, which can be viewed down to the individual card level. These chronicled, updated reports keep payout management simple and streamlined.
- Global Use
Generally, prepaid cards function just like traditional credit or debit cards and can be used worldwide anywhere that accepts such cards (i.e. online, in-store, or at ATMs). This additional convenience puts profits and spending capability in the hands of your clients.
Please visit www.transact24.com to learn more about prepaid cards as your forex payout solution.
