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Pushing prepaid cards. (Amex, Mastercard, Visa Explore Stored Value).

Publication: Business Travel News
Publication Date: 20-JAN-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Payment system vendors are attempting to muster corporate interest in new, prepaid corporate card options for a variety of business expenses, including travel and entertainment.

MasterCard International last month introduced the Travel Per-Diem Card, a prepaid card program that allows travel administrators to set and track daily spending limits for travelers. American Express also last month began piloting a prepaid card option, while Visa last year relaunched its gift card as the Pre-Paid Visa Card.

While the groundwork for MasterCard's Travel Per-Diem Card essentially is the same as other stored value or prepaid cards, the company said customers could set limits not only on spending amounts but also on where travelers can use the card, "which will help individuals comply with corporate travel policies," a MasterCard spokesperson said.

"Companies have enhanced controls on how that card can be used," said Steve Abrams, senior vice president of MasterCard Corporate Payment Solutions. "So you could put a limit not only on the transaction size and frequency-clearly...

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