Visa has introduced a prepaid card that combines general purpose payment, transit fare acceptance and event ticketing features all in one card. The card will debut at Singapore 2010 Youth Olympic Games.
Visa said that new prepaid card’s functions include the ability to make purchases at Visa merchants and pay for trips on Singapore’s public transportation system. The cards will also be used as the means for entry to the Singapore 2010 Youth Olympic Games.
In addition to transit and ticketing, Visa prepaid programs around the world can combine Visa acceptance with applications such as identification, building access, healthcare benefits, government disbursement, medical and school discounts, and money transfer, among others.
Visa Global Prepaid Products head Brian Triplett said this first-of-its-kind multi-application Visa Prepaid card reflects the growing popularity of prepaid payments, the flexibility of Visa’s Prepaid platform and Visa’s commitment to supporting its financial institution clients and sponsorship partners with innovative products and programs that make their consumer engagement efforts more compelling.