SelectCore, a Canada-based provider of prepaid telecom and prepaid financial services, has launched a prepaid reloadable Iridium MasterCard.

The Iridium MasterCard will be sold for $3.99 and can be used instantly. There will be no credit check or bank account required and the card can be reloaded over and over again up to a $5,000 balance. The Iridium MasterCard will be accepted at over 28.5 million locations worldwide and online.

Moreover, cardholders can have control of their funds with online account access, text message alerts, bill pay, money transfers, ATM access and more. Customers can also have their paycheck deposited directly to their card on payday.

Iridium MasterCard will be rolled out to over 4,000 retail partner locations across Canada this year. SelectCore’s proprietary processing platform and POS terminals deployed at these locations allow the cards to be activated and reloaded in real-time.

Keith McKenzie, CEO of SelectCore, said: “The Iridium Card is a bank for the un-banked, from direct deposit to bill payments, ATM access and more, its just like having a checking account. SelectCore is now diversifying and expanding into the high-margin prepaid financial services industry, opening the door for many new opportunities.”

Ryan Deslippe, president of SelectCore, said: “Iridium MasterCard is the perfect solution for millions of un-banked and credit-challenged Canadian’s who are looking for financial freedom. It’s also a great alternative and budget tool for consumers that are paying high interest charges on traditional credit cards.”