Supporting Stored Value Providers
E-wallet and Prepaid Card Operators (collectively, “Stored Value Providers”) have a range of needs that can benefit from Fin-Serv Advisor’s knowledge and experience, including:
- Gaining an understanding of the local regulatory requirements where consumer stored value is held by a non-bank and the alternatives and strategies around ensuring compliance with such country by country regulations, and either becoming licensed or partnering with licensed entities in the target jurisdictions.
- Establishing local banking relationships to enable domestic clearing at the lowest cost possible for consumers and the Stored Value Provider
- Gaining access to local forms of “alternative payments”
- Local card acquiring
- Understand and employing local KYC/AML regimes
- Sourcing local identity verification solutions
Where the local schemes permit non-banks to become Principal Members / Licensees of the scheme for either issuing and/or acquiring, we assist Stored Value Providers with all the elements of the process in terms of scheme applications including :
- business plans
- collateral requirements
- processing approach
- end-to-end delivery of schemes
- designated Base I/Base II processors
- Advising a MasterCard Europe Member on core processing alternatives for its prepaid card programs.