Latest news with #prepaidcards
Yahoo
07-07-2025
- Business
- Yahoo
Vietnam Prepaid Card and Digital Wallet Market Report 2025: Vietnamese Banks Launch Domestic Prepaid Programs to Boost Financial Inclusion
Vietnam's prepaid card and digital wallet market is set to grow 26.6% annually, reaching US$7.19 billion by 2025. Driven by e-commerce growth, government cashless initiatives, and fintech innovations, the market thrives. Key players like Vietcombank and MoMo dominate, with trends indicating a continued shift to digital. Vietnamese Prepaid Card and Digital Wallet Market Dublin, July 07, 2025 (GLOBE NEWSWIRE) -- The "Vietnam Prepaid Card and Digital Wallet Market Intelligence and Future Growth Dynamics Databook - Q2 2025 Update" report has been added to prepaid card and digital wallet market in Vietnam is expected to grow by 26.6% on annual basis to reach US$ 7.19 billion in 2025. Vietnam's prepaid card and digital wallet market has experienced robust growth during 2020-2024, achieving a CAGR of 30.7%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 23.1% during 2025-2029. By the end of 2029, the prepaid card and digital wallet market is projected to expand from its 2024 value of US$ 5.68 billion to approximately US$ 16.52 billion. Key Trends and Drivers in the Vietnam Prepaid Cards SectorThe prepaid card market in Vietnam is set for continued expansion, driven by increasing digital payment adoption, deeper integration with digital wallets, and the rise of domestic prepaid card programs. As e-commerce continues to grow and the government pushes for a cashless economy, prepaid cards will play an increasingly important role in providing secure and efficient payment solutions. Financial institutions and fintech companies can capitalize on this growth by developing innovative offerings that align with consumer preferences and regulatory the next two to four years, the competitive landscape is expected to evolve as more financial service providers enter the market, leveraging advancements in fintech and expanding digital payment infrastructures. Strengthening the NAPAS network and the broader acceptance of prepaid cards across sectors will contribute to greater financial inclusion and a shift away from cash-based transactions. As the prepaid card ecosystem matures, regulatory developments and strategic collaborations will shape the market, ensuring sustainable growth and increased adoption among Vietnamese Growth of Digital Payment Adoption Vietnam's rapid adoption of digital payments is transforming the financial landscape, with prepaid cards emerging as a preferred payment method among consumers. The increasing reliance on digital transactions, driven by expanding e-commerce activities and heightened security concerns, has accelerated the shift from cash-based payments. Prepaid cards offer a secure and convenient alternative, particularly for online purchases, where consumers seek to protect their primary banking details while maintaining financial flexibility. Government initiatives play a key role in fostering this transition by actively promoting cashless transactions and digital financial inclusion. Policies aimed at reducing cash dependency and regulatory support for digital wallets and fintech services have created an environment conducive to prepaid card growth. As prepaid cards become more accessible and integrated with digital payment solutions, their usage is expected to rise across various consumer segments. Integration of Prepaid Cards with Digital Wallets Integrating prepaid cards with digital wallets in Vietnam enhances the convenience and accessibility of cashless transactions. Consumers increasingly opt for digital payment solutions to manage funds efficiently while maintaining security. As a result, prepaid card providers are embedding their services into digital wallets, enabling users to conduct seamless transactions across various online and offline channels. Technological advancements in fintech are a key driver of this trend, allowing for improved security, interoperability, and ease of use. Consumers, particularly younger demographics, demand quicker and more convenient payment solutions, prompting financial service providers to expand digital wallet functionalities. The ability to link prepaid cards to digital wallets gives users greater control over their spending while eliminating reliance on traditional banking services. Over the next two to four years, the growing integration of prepaid cards with digital wallets will create a more interconnected financial ecosystem. As adoption increases, businesses and financial institutions will likely enhance digital payment solutions to capture a larger market share. This shift will cater to evolving consumer preferences and strengthen Vietnam's digital economy by encouraging greater participation in cashless transactions. Emergence of Domestic Prepaid Card Programs Vietnamese banks are increasingly launching domestic prepaid card programs in collaboration with local partners to strengthen the country's payment ecosystem. These initiatives aim to provide consumers with cost-effective, locally managed prepaid card solutions that reduce reliance on international payment networks. By promoting domestic payment infrastructure, these programs support Vietnam's broader strategy of enhancing financial accessibility and developing a more self-sufficient financial system. The expansion of the National Payment Corporation of Vietnam (NAPAS) network has been a key driver in facilitating domestic prepaid card issuance. Banks and financial institutions are leveraging this network to introduce prepaid card solutions with lower fees than international options, making them a viable choice for cost-conscious consumers. Additionally, businesses are increasingly adopting domestic prepaid cards for payroll, government disbursements, and targeted financial programs, further driving market growth. Over the next two to four years, domestic prepaid cards are expected to gain a larger market share as banks continue to enhance their offerings. Strengthening the NAPAS network and expanding prepaid card functionalities will contribute to broader financial inclusion, allowing more individuals and businesses to access formal financial services. As adoption rises, domestic prepaid cards will play a crucial role in Vietnam's digital financial landscape, reinforcing the shift towards a cashless economy. Competitive Landscape of the Vietnam Prepaid Card MarketVietnam's prepaid card market is witnessing a transformation fueled by digital payment growth, competitive innovation, and supportive regulatory measures. Established financial institutions and new fintech entrants actively invest in prepaid solutions to cater to the growing consumer demand for cashless increasing consumer adoption and regulatory backing, prepaid cards will continue to expand their role in Vietnam's financial ecosystem. Companies prioritizing technological innovation, security enhancements, and strategic partnerships will be best positioned to capture market opportunities and maintain a competitive edge in the evolving prepaid card Market Dynamics Vietnam's prepaid card market has expanded significantly due to the rising adoption of digital payments and financial services. With increasing demand for cashless transactions, prepaid cards have gained traction across different sectors, including retail, corporate payroll, and travel. The market's rapid growth is also fueled by the convenience and security of prepaid cards, particularly in online transactions where consumers seek greater control over their spending. The widespread acceptance of prepaid cards across industries and the growing integration with digital wallets have contributed to this growth. As more businesses and financial institutions introduce prepaid solutions, the market is evolving to meet the changing needs of both consumers and enterprises. Key Players and Market Share The prepaid card market in Vietnam is dominated by established banks and fintech companies competing to provide innovative payment solutions. Leading financial institutions such as Vietcombank, BIDV, and Sacombank have leveraged their extensive networks to offer various prepaid card products catering to individual consumers and businesses. These banks continue to develop their digital offerings to align with the growing trend of cashless payments. In addition to traditional banks, fintech firms like MoMo and ZaloPay have entered the market, introducing prepaid card solutions tailored for tech-savvy consumers. These companies have disrupted the competitive landscape by offering flexible, user-friendly digital payment options. Their presence has intensified competition, pushing both fintechs and traditional banks to enhance their prepaid card services through digital innovations. Recent Launches and Partnerships Strategic partnerships and acquisitions have shaped Vietnam's prepaid card industry. Companies are collaborating to expand their product offerings and strengthen their market presence. A notable example is Got It, a key player in the gift card sector, which has reported significant revenue growth, demonstrating the increasing demand for digital prepaid solutions. In 2023, Got It generated approximately US$ 6.3 million in revenue, a 26.8% increase from the previous year. The company now focuses on digital transformation by expanding from offline store vouchers to integrated digital prepaid solutions for brand partners. Projections for 2024 indicate a 49% revenue increase, driven by its shift to online payment platforms and partnerships with businesses to enhance digital gifting solutions. Anticipated Market Evolution (Next 2-4 Years) The market will evolve as financial institutions and fintech companies innovate to attract a growing customer base. Digital transformation efforts, particularly in mobile payments and e-commerce, will further drive the adoption of prepaid cards. As competition intensifies, companies will focus on differentiating their prepaid card offerings through enhanced security, loyalty programs, and deeper integration with digital wallets. Strategic partnerships and mergers between banks and fintech firms will likely increase, leading to new product innovations and a more interconnected payment ecosystem. The evolving regulatory framework will also be critical in shaping market dynamics, ensuring a secure and competitive environment for prepaid card providers. Regulatory Changes Vietnam's regulatory landscape has evolved to support the transition towards a cashless economy. The government has implemented new policies promoting prepaid card usage and digital transactions in the past year. These measures include tax incentives for businesses adopting electronic payments and regulatory frameworks to support fintech companies entering the prepaid card market. Additionally, authorities have introduced stricter security regulations to protect consumers using prepaid cards for online transactions. These regulatory updates aim to foster trust in prepaid financial products and encourage wider adoption across industries. The government's continued push for financial inclusion is expected to further accelerate the prepaid card market's growth in the coming years. This report provides a detailed data-centric analysis of the prepaid card and digital wallet industry in Vietnam, covering market opportunities and analysis across a range of prepaid card and digital wallet domains. Key Attributes: Report Attribute Details No. of Pages 159 Forecast Period 2025 - 2029 Estimated Market Value (USD) in 2025 $7.19 Billion Forecasted Market Value (USD) by 2029 $16.52 Billion Compound Annual Growth Rate 23.1% Regions Covered Vietnam Report ScopeThis report offers an in-depth, data-driven examination of prepaid payment instruments, focusing on expenditures via prepaid cards and digital wallets within both retail and corporate consumer sectors. It also presents an overview of consumer behavior and retail spending patterns in Vietnam. The report includes a detailed breakdown of key market segments for each country. With over 80+ country-level key performance indicators (KPIs), the report provides a thorough understanding of market dynamics in the prepaid card and digital wallet sectors. Vietnam Prepaid Payment Instrument Market Size and Forecast Vietnam Digital Wallet Market Size and Forecast Vietnam Digital Wallet Market Size and Forecast by Key Segments Vietnam Digital Wallet Retail Spend Dynamics Vietnam Prepaid Card Industry Market Attractiveness Vietnam Open Loop Prepaid Card Future Growth Dynamics Vietnam Closed Loop Prepaid Card Future Growth Dynamics Vietnam Prepaid Card Consumer Usage Trends Vietnam Prepaid Card Retail Spend Dynamics Vietnam General Purpose Prepaid Card Market Size and Forecast Vietnam Gift Card Market Size and Forecast Gift Card Market Size and Forecast by Functional Attribute Gift Card Market Size and Forecast by Consumer Segments Gift Card Market Share Analysis by Retail Categories Vietnam Entertainment and Gaming Prepaid Card Market Size and Forecast Vietnam Teen and Campus Prepaid Card Market Size and Forecast Vietnam Business and Administrative Expense Prepaid Card Market Size and Forecast Vietnam Payroll Prepaid Card Market Size and Forecast Vietnam Meal Prepaid Card Market Size and Forecast Vietnam Travel Forex Prepaid Card Market Size and Forecast Vietnam Transit and Tolls Prepaid Card Market Size and Forecast Vietnam Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast Vietnam Fuel Prepaid Cards Market Size and Forecast Vietnam Utilities, and Other Prepaid Cards Market Size and Forecast Vietnam Virtual Prepaid Card Industry Market Attractiveness Vietnam Virtual Prepaid Card Market Size by Key Categories For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Vietnamese Prepaid Card and Digital Wallet Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Coin Geek
03-07-2025
- Business
- Coin Geek
Germany's digital wallet market tipped to reach $59B by 2030
Getting your Trinity Audio player ready... Germany's prepaid card and digital wallet market is expected to record a meteoric growth spurt before the end of the decade, driven by a combination of factors. According to a Research and Markets report, the industry will reach a valuation of $59.97 billion in 2029. The climb to a market capitalization of nearly $60 billion translates to a compound annual growth rate (CAGR) of 9.6% The German market for prepaid cards will soar by 11.1% to reach $41.53 billion by the end of the year. A community reading of the report highlights changing consumer behavior, an evolving digital payments sector, and corporate adoption of prepaid cards. The report notes that since COVID-19, German residents opted for contactless payment options, triggering a decline in cash transactions. Furthermore, innovation in digital wallets offering broad functionalities for consumers is tipped to contribute to the surge in CAGR. Analysts are predicting a spike in prepaid card and digital wallet use across retail, hospitality, and e-commerce verticals in Germany. A key driver of the growth will be the youth-focused payment solutions by German financial institutions. Meanwhile, institutions are leaning on prepaid cards for employee rewards and customer incentives. The combination of youth-focused payment solutions and corporate adoption will support the push for a 9% CAGR by 2029. For the prepaid card segment, Best Buy, Amazon (NASDAQ: AMZN), and Apple (NASDAQ: AAPL) are tipped to hold the majority of the segment, but the possibility of innovative entrants to the space remains. The report notes that the climb to a $59 billion valuation will be fraught with challenges, urging firms to invest in data privacy and security features. 'Companies that innovate, enhance security, and provide user-friendly prepaid solutions will be best positioned to capitalize on opportunities in Germany's evolving financial system,' read the report Blockchain-based payments falter in Germany Despite the surge in digital payments, German firms are recording slow growth with blockchain technology. A new report revealed that only 21% of financial services firms are keen on exploring blockchain-based solutions, while other sectors are posting even underwhelming figures. However, many German commercial banks are exploring digital bonds to improve their current offerings. While blockchain-based solutions falter, German fintech firms embrace artificial intelligence (AI) for its productivity and efficiency perks. Saudi Arabia to record high growth in prepaid card market Another report by Research and Markets has tipped Saudi Arabia's prepaid card market to clinch a $12.88 billion market capitalization in 2029, projecting a CAGR of 7.5% over four years. Currently, Saudi Arabia's prepaid card market is valued at less than $10 billion, with the report highlighting a raft of factors behind the projected growth spurt. For Saudi Arabia, government policies to stifle cash usage are the main driving factors behind the rise of prepaid card adoption. Saudi authorities have unveiled their Vision 2030 initiative, designed to improve financial inclusion in the Gulf nation, pledging to support digital payments. 'As Saudi Arabia progresses toward a cashless economy under Vision 2030, the prepaid card market is expected to play a crucial role in shaping the country's digital payments ecosystem,' read the report. Alongside the government's initiative is the surge in fintech firms and traditional financial institutions rolling out digital payment solutions. Over the last four years, established financial institutions and emerging firms have unveiled new digital solutions, with the report tipping the trend to continue till the end of the decade. Furthermore, integrating prepaid cards with digital wallets and other contactless payment systems is expected to trigger adoption. New solutions merging digital assets and prepaid cards are also tipped to contribute to the projected valuation. E-commerce utilities across Saudi Arabia will play a role in rising prepaid card usage. The report cites the fluidity of purchases and the additional security perks offered by prepaid cards in retail use. Corporate entities are also a significant force driving prepaid card use, leaning on the solution for customer rewards and employee incentives. Established banks like the Saudi National Bank, Alinma Bank, and Rita's Bank will hold a large market share by the end of the decade. Steep fees plague Saudi Arabia's digital payment adoption Saudi's road toward a $12 billion market capitalization for the prepaid market is not all smooth sailing. High fees threaten to derail the country's adoption plans for digital payment, with digital wallets being the hardest hit. To sidestep the steep fees, Saudi Arabia is exploring using blockchain and central bank digital currencies (CBDC) for payment. Despite the mounting challenges, the Gulf nation is making significant strides in cross-border payments for its burgeoning remittance industry. Watch | Educating from scratch: Inspiring future innovators in Poznań & beyond title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Zawya
30-06-2025
- Business
- Zawya
Al Ansari Exchange launches digital issuance for prepaid cards, promoting financial inclusion in the UAE
Dubai, UAE – Al Ansari Exchange, the UAE's largest remittance and foreign exchange company and a subsidiary of Al Ansari Financial Services PJSC, is proud to announce the digital issuance of its popular prepaid cards, the TravelCard and FlexiblePay cards. This initiative promotes financial inclusion and supports the UAE's vision of fostering a cashless economy. Customers can now obtain these cards instantly through the Al Ansari Exchange app, enhancing convenience, security and accessibility. Within just a few seconds of application approval, UAE residents are issued a 16-digit Visa co-branded digital card ready for immediate use for seamless payments. The digital issuance eliminates the need for branch visits, allowing customers to access their cards from the comfort of their homes or on the go. To deliver an even smoother customer experience, the digital cards are easily integrated with major digital wallets, including Apple Pay, Samsung Pay, and Google Pay, offering customers the convenience and speed of contactless payments. The TravelCard is tailored for travellers, offering competitive exchange rates, multi-currency support, and worldwide acceptance, making it an ideal companion for international trips. Meanwhile, the FlexiblePay card offers a versatile payment solution for everyday expenses, with easy reload options, online shopping capabilities, and seamless wallet integration. Both cards are equipped with enhanced security features to ensure safe transactions and peace of mind. 'We are thrilled to introduce the digital issuance of our TravelCard and FlexiblePay cards.' said Ali Al Najjar, COO of Al Ansari Exchange. 'This innovation reflects our commitment to providing cutting-edge financial solutions that are both convenient and secure. By leveraging digital technology, we aim to enhance the overall customer experience and meet the evolving needs of our clients. Our goal is to empower individuals from all walks of life, fostering financial inclusion and enabling them to embrace the advantages of a cashless society, in line with the UAE's vision for a digital economy and its position as a global financial hub.' Al Ansari Exchange is a technology-led financial services provider redefining remittances and currency exchange through secure, smart, and scalable digital solutions. With the UAE's largest network and a fast-growing app-based user base, it empowers millions to move money with ease and confidence. Rated 5A1 by Dun & Bradstreet for financial strength, it is trusted by millions and built for the future of finance. -Ends- For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
Coin Geek
30-06-2025
- Business
- Coin Geek
Brazil's prepaid card, digital wallet market to reach $53B by 2030
Getting your Trinity Audio player ready... A new report has predicted growth for Brazil's prepaid card and digital wallet market before the end of the decade, powered by regulatory reforms and consumer behavior. The report, compiled by Research and Markets, tips Brazil's prepaid card and digital wallet to reach $53.42 billion before the end of the decade. The market will grow by an 11.1% compound annual growth rate (CAGR) between 2025 and 2029. From 2020 to 2024, the ecosystem recorded a meteoric growth rate, underscored by a CAGR of 17.9%. While the forecasted ecosystem growth pales compared to the numbers from 2020, the report highlights the consistency of the growth. Several factors are powering the growth spurt in the prepaid card market. The report mentions Brazil's embrace of Pix, an instant payment system launched by the country's central bank. The numbers behind Pix are poised to trigger a surge in Brazil's prepaid card and digital wallet market by 2029. Pix is eyeing $30 billion in transaction volume from a new automation feature, racking numbers from its broad e-commerce application. The report also mentions changing consumer preferences as a key driver in the projected industry growth. According to the report, there is a growing demand for instant transactions in the South American country from consumers and merchants. While digital wallets have the edge in adoption, prepaid card service providers are leaning on key partnerships to catch up. On the regulatory side, the Central Bank of Brazil has pushed to standardize and cap prepaid card fees at 0.7%. 'The goal is enhanced market fairness and expanded merchant involvement, ensuring prepaid card competitiveness among payments, thus incentivizing small businesses to adopt these methods widely,' read the report. Major financial institutions like Banco do Brasil and Banco Bradesco currently hold most of the market share. However, the report tips fintechs like Nubank and new innovators to roll out offerings for consumers in the industry. Brazil marches on despite challenges Although Brazil has signaled a clear intent to pursue digitization in payments, the climb has been plagued by challenges. Its attempt at a central bank digital currency (CBDC) has been derailed over privacy concerns. Despite the challenges, Brazil's payment institutions are hurtling toward fully embracing emerging technologies. The country's largest commercial bank is exploring a stablecoin launch following plans by regulators to relax guardrails for issuers. Alipay completes world's first payment transaction using smart glasses Meanwhile, Chinese payment giant Alipay has announced the completion of a payment transaction using smart glasses in a pioneering move. Alipay reached the milestone in partnership with Chinese consumer electronics firm Meizu. Alipay successfully integrated its digital wallet with Meizu's smart glasses, leveraging emerging technology to pull off the transaction. Alipay revealed that the first-of-its-kind transaction leverages a suite of artificial intelligence (AI) functionalities ranging from voice recognition to novel authentication solutions. Furthermore, Alipay has confirmed that offline payment functionalities are being worked on in collaboration with Meizu. 'Users are able to make seamless payments with QR scans or voice commands from their smart glasses, backed by Alipay+'s AI-powered voice interface, intent recognition, and voiceprint authentication technologies,' read the statement. Alipay confirmed that the new features will be integrated into Alipay+ partner e-wallets before the end of the year, pending the rollout of its tech suite for smart glasses. On the flip side, Meizu has been probing the possibility of offline AI-powered smart glass payment functionalities. It will integrate Alipay+'s payment SDK solutions in its upcoming range of smart glasses. 'The offline payment function of smart glasses launched overseas by Meizu and Alipay+ has set a new technological benchmark for the industry,' said Peng Guo, General Manager of the XR Division of Meizu. Alipay has played a key role in China's CBDC experiments, setting the pace for the digital yuan's integration of red packet functionalities. Alipay and its parent company, Ant Group, have a streak of embracing emerging technology, with its affiliate companies turning to AI in droves. Alibaba (NASDAQ: BABA) has rolled out its suite of AI solutions to rival U.S.-based offerings, while its e-commerce unit is leveraging the technology to streamline the merchant process. Smart glasses record adoption spike Smart glasses are surging in popularity, with Rayban's and Meta's (NASDAQ: META) collaboration driving adoption figures to new highs. With its offering, Google (NASDAQ: GOOGL) has joined the race, while a wave of Chinese consumer electronics firms are keen on pushing their products to the market. However, the journey has not always been smooth, with privacy and health concerns trailing the launch of the offerings. From the earliest integration of Meta's multimodal AI in Rayban glasses in 2023 to processing payments, the offering has come a long way in under three years. Watch: New age of payment solutions title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Finextra
26-06-2025
- Business
- Finextra
GiveCard partners Visa to modernise disbursements in the public sector
GiveCard, a platform purpose-built to help nonprofits and government agencies disburse and manage funds over prepaid funds, today announced a strategic collaboration with Visa. GiveCard will be issuing virtual and physical prepaid cards to recipients, distributing them directly to recipients through various U.S. government agencies. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Together, the two organizations are helping the public sector transition into the cashless era with infrastructure that enables secure ledger transfers at scale - through prepaid debit cards, as well as GiveCard-powered real-time bank transfers and automated workflows that reduce administrative overhead. As the federal government accelerates efforts to modernize payments – including a recent executive order to phase out paper checks by September 30, 2025 – agencies are working to deliver digital-first, audit-ready payment systems. The GiveCard–Visa collaboration offers a turnkey solution: a modern infrastructure that fuses GiveCard's advanced disbursement technology with Visa's prepaid debit cards. 'The world is going cashless, and government and nonprofit systems have been working to modernize their payment systems to keep up,' said Lurein Perera, Co-Founder and CEO of GiveCard. 'We built GiveCard to close that gap: offering a platform that empowers public-sector organizations to move money quickly, compliantly, and without requiring a 20-person operations team.' GiveCard's infrastructure includes high-limit virtual and physical prepaid debit cards, ACH/RTP/FedNow bank transfers, and a full-service cardholder support system through a platform and live interpreter network that operates in 25+ languages. It's all backed by no-code dashboards, APIs, and customizable workflows so agencies can automate disbursement logic, like eligibility checks or attendance triggers, without building from scratch or hiring additional staff. 'GiveCard has built a simple and intuitive platform that helps eliminate the cost, time and complexity associated with disbursement of funds,' said Rick Malcolm, Head of Visa Government Solutions North America. 'Their ability to integrate into government disbursement systems to manage complex and high-volume payments has made them an early success in the public sector, and we look forward to what we can accomplish together for our customers and stakeholders in the government sector.' GiveCard is purpose-built for disbursement: its infrastructure was designed to move money into people's hands with minimal friction, especially for unbanked or underbanked individuals. With no SSN or ID required, the system supports programs like housing aid, disaster relief, and research incentives while maintaining full anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance. The new collaboration will enable state and local governments, school districts, and nonprofits to rapidly implement and scale digital disbursement programs with Visa-backed prepaid cards and secure digital rails.
