Incoming College Students and the Institutions they Attend Benefit from White Label Prepaid Programs
SALT LAKE CITY (PRWEB) JANUARY 21, 2020
As college acceptance letters begin rolling in for high school seniors around the globe, banking fast becomes a top priority for these young adults who are often getting their first taste of independence. Universities and colleges are quickly realizing they can play an important role in getting kids off on the right financial foot by offering branded prepaid cards. At the same time, these institutions are seeing the reputational benefits of white label programs, according to experts at Axiom Prepaid Holdings, a global provider of end-to-end payment solutions that include Mastercard® and Visa® prepaid cards.
“Prepaid cards as a whole are increasing in relevance on college campuses because they are a safe means of introducing students to money management. Yet what is often overlooked is the significance that these same cards can have to a college’s marketing plans in an increasingly competitive landscape,” explained Steven Foster, CEO, Axiom. “White label programs allow them to put their name and logo on a prepaid card to boost their visibility and reputation.”
According to Foster, the statistics speak for themselves when it comes to the relevance of white label prepaid cards in the higher education arena. Consider this:
The National Association of Student Financial Aid Administrators found in a recent survey that most incoming college students in the U.S. struggled to answer even basic financial literacy questions. The college-going population is predicted to drop by 15 percent between 2025 and 2029 and another percentage point or two thereafter. “Those stats combine to present the perfect storm of factors that white label prepaid cards can help to solve for,” said Foster.
For students, white label prepaid cards endorsed by their alma mater not only provide a trust factor but also prevent them from spending more money than they have in their accounts. For institutions, the proven brand loyalty and added name recognition every time a card is swiped have shown to boost both reputation and even provide a revenue source.
“We launched our White Label Program to provide the expertise needed to ensure our clients can enjoy the brand and revenue benefits of customized prepaid cards - without having to spend their valuable time and efforts in an area where they are not specialized,” explained Steve Urry, Chairman, Axiom Prepaid Holdings.
Axiom offers logoed single and multi-currency cards that can be used via an app or physical card worldwide. The cards include features like card-to-card payments, ATM access, a rewards program, direct deposit load, generated statements, around-the-clock service, fraud protection, virtual card access and SMS/email alerts. “We take a lot of satisfaction in knowing we can help colleges and universities to not only boost their brands but support their efforts to give kids the right start in managing their finances for the long-term,” added Urry.
About Axiom Prepaid Holdings:
Axiom Prepaid Holdings was born of the desire of two entrepreneurial-minded banking industry veterans to turn the prepaid card model upside down. To make banking simple. To give consumers and businesses around the globe access to innovative, easy-to-use, digitally driven, fun, flexible and secure products and services. Today, Axiom has 9 offices and conducts business in 20 countries. Every day, the Axiom team strives to create 100% turnkey solutions to help cardholders gain economic freedoms and help businesses achieve growth and success. To learn more about Axiom Prepaid Holdings, please visit: http://www.axiompph.com.