of Card Programs
There are several dozen types of prepaid cards. UVG primarily focuses on the handful of types described here:
School Prepaid Cards
Until recently, universities benefited from revenues generated from credit card and debit card programs that combined such a card with the school photo ID card that could be used to pay for meals, laser printing, and other school purchases. Because credit card and debit card issuers were making direct payments to schools for the privilege of offering predatory-like cards to students, recent legislation became law that negatively impacted such credit card and debit card programs, but did not effect prepaid cards. UVG offers either a closed-loop card only usable within the school community and campus, or a mixed card that also permits transactions at merchants located off campus.
UVG targets small institutions of higher education such as community colleges, trade schools, technical colleges, and vocational schools that the big banks and card companies traditionally ignored. Although the initial infrastructure cost of establishing a prepaid card program is at least $4M, UVG can provide its proprietary turnkey software solution and service platform, act as the program manager, and do all of the work. This includes the entire end-to-end card management processes, including card issuance, card activation, transaction processing, dispute management, card fraud management, card customer support, and card scheme compliance.