(1888PressRelease)
October 07, 2008 - Prepaid Expense Card Solutions, Inc., today announced the launch of the PEX Visa® Prepaid Card, issued by The Bancorp Bank; Member FDIC. The PEX Card Service is the first turnkey prepaid card program designed specifically for employee spend management within small and medium sized businesses. Unlike credit or debit cards, PEX Card provides companies additional control by enabling them to allocate money exactly when and where it's required - funding cards with only the money needed, protecting organizations against misuse and increasing cash flow control.
The PEX Card administrative website makes it easy for organizations to issue, fund, and set individual spending profiles per cardholder - in real-time. Card spending controls enable organizations to pre-authorize employee spending by merchant category or daily limit, while funding tools ease the burden and distractions of approvals - freeing resources to focus on more important duties.
Prepaid cards offer another advantage to businesses - no credit is required. "PEX Card is the next step in the evolution of the business card industry. PEX Visa Prepaid Cards expand the reach of card payments to companies of all sizes and credit histories. We do not judge applicants by revenues or credit score," said Toffer Grant, founder and CEO of PEX Card. "They just have to meet two simple requirements - first, they must be a registered business entity and second, the data they submit must be verifiable."
PEX Card customers apply for, manage, and optimize their card program in real-time. "We see businesses of all sizes embracing the PEX Card Service for making fast and convenient payments wherever Visa debit cards are accepted. And, customizable spending profiles are perfect for organizations that allow employees to make purchases," said Grant.
The PEX Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc.
About PEX Card
PEX Card develops card payment tools that help companies streamline their spending processes. As the prepaid card industry's first turnkey commercial card program, PEX Card customers apply for, optimize and manage their service online. The PEX Card Service provides visibility into cash flow and corporate spending.
PEX Card is privately held and is headquartered in New York City. For more information, please visit www.pexcard.com, or contact media ( @ ) pexcardcom dot
About The Bancorp Payment Solutions Group
The Bancorp Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc., offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorppsg.com.
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