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suretap introduces reloadable prepaid card

suretap introduces reloadable prepaid card 

This MasterCard is a secured and easy to use prepaid card that’s only available through the suretap wallet. It comes with a low fee structure that rivals most debit card fees and, for a limited time, will have no monthly fee attached.

“We want suretap to meet the digital payment choices of all Canadians,” said Jeppe Dorff, President of suretap. “The use of prepaid cards is growing in Canada and worldwide, and now it’s part of the suretap wallet. It’s time that Canadian consumers get access to their funds in real time, irrespective of where they are and what they do. With mobile wallets there is an increased opportunity to free consumers so they can focus on what matter the most – now there’s no need to carry your wallet to the gym anymore.”

According to a global study commissioned by MasterCard Worldwide, the use of prepaid cards in Canada is expected to grow from just $2 billion in 2010 to about $19 billion by 2017. With this growth will come the benefits of convenience and security in making payments, ease of use in travel, the ability to control expenses, and an appropriate way to manage a budget for kids.

Since the introduction of its new open wallet in June, suretap has received sizeable support from many of the leading Canadian wireless carriers, banks and retailers. This has allowed smartphone consumers to easily make secure mobile payments with virtual and encrypted credit cards, gift cards—and now suretap’s prepaid MasterCard.

From the consumer side, more than 180,000 Canadians have suretap installed on their smartphones, and of that amount 80 per cent are using Android phones. Since its launch as well, suretap has seen an increase of 22 per cent on the average purchase value per transaction month over month, along with a 53 per cent increase in reload value per account.

Today more than 30 Android and BlackBerry smartphones from Canada’s leading wireless carriers such as Bell, Rogers, TELUS, Koodo and Virgin Mobile are offering the suretap wallet and this number is expected to grow by the end of 2015.  suretap has also formed a partnership with the Canadian Imperial Bank of Commerce (CIBC) in offering 38 credit card options through the suretap wallet. Retailers like SIR Corp, Cara Operations, Indigo, Cineplex, Forever 21, Groupon, and others have also signed up to participate in the multi-partner program as part of the suretap wallet.

So what else can we expect from this open wallet digital company in the near future? According to the plan, suretap is looking to add debit cards, loyalty cards, digital coupons and deals in the near future.

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