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The Importance of Offering Prepaid Products That Provide Financial Inclusion

Throughout the years, consumer shopping habits and forms of payments have taken a digital shift. In 2020, close to half of Canadians reported using e-commerce platforms for online purchases, accounting for 477 million transactions (see source). This shift to e-commerce has forced the growth in digital payments; but, traditional digital payments are not inclusive for all Canadians.

It is estimated between 10-20% of Canadians have little to no access to everyday banking services (see source). This can create a barrier in their participation in the e-commerce space, as in most cases you need a credit or debit card in order to transact online. That is why as a prepaid provider we have partnered with many brands to provide our merchants with financially inclusive products for their customers:

Amazon Cash is a service that allows customers who want to shop on Amazon but don’t have a credit card. Customers can add cash to their Amazon.ca balance by showing a QR Code or their phone number at a participating retailer.

Online Payment Products - are prepaid vouchers (paysafecard, neosurf, flexepin, and ecoVoucher) are an effective way to digitize cash providing customers a safe and secure method to purchase products and services online without the need of a credit or debit card, providing convenience for customers looking to pay and play online!

STACK is a popular reloadable prepaid Mastercard that provides instant rewards and tools to manage money with zero fees. Customers can load their STACK prepaid Mastercard by showing their STACK QR code at a participating retailer.

Paysafecash is a solution that allows customers to pay for online products and services with cash at participating retail stores using their QR code.

Selling these products in your store will enable inclusion for your customers, giving them  a method to participate in the growing world of e-commerce, not to mention helping your store become a destination for a growing generation of e-customers. 

To learn more about our prepaid products and services contact us today.

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