Thursday 7th February, 2013

Experian®, will be working in partnership with Cardplatforms, the prepaid card services provider, via its international authentication services to help the organisation roll-out prepaid cards worldwide.

The partnership will see Experian’s global verification services, working in tandem with Cardplatforms’ prepaid card issuance network to roll-out an innovative payroll and benefits programme to leading maritime shipping companies. Experian will provide personal data verification, fraud screening and authentication of online documents to ensure the funds go to the right individuals.

Experian’s global authentication services, Prove-ID and AutoDoc-ID, not only help drive growth in the prepaid card industry but also enable organisations to comply with regulatory requirements and easily perform international cross-border commerce.

Prepaid cards meet a broad range of needs and are becoming increasingly popular as an alternative to traditional banking services. The benefits of prepaid cards, such as no overdraft or transaction fees, and no credit checks, are ideal for the financially excluded who are unable to qualify for mainstream financial products and conventional bank accounts.

Scott Carter, Senior Vice President, Global Analytics and Fraud and Identity Solutions, Experian Decision Analytics, commented: “The prepaid card market is growing at a rapid rate and while this brings opportunities, particularly for the unbanked or under-banked, it also presents challenges when it comes to compliance, particularly for providers.”