After the credit bubble got busted, a new trend of buying through prepaid started gaining momentum. Initially there was a lot of skepticism, and people thought who in their right minds would pay for getting a payment card beforehand. But things changed, and prepaid players were able to provide more offers, more discounts and it started to work. In the B2B segment, corporate merchandizing and gifting was a big adopter.
Intelispend Prepaid solutions was in the prepaid card services in the corporate incentives and consumer promotions marketplace. Prepaid cards were seeing good adoption in delivering corporate incentives to rebates and even employee payroll. Intelispend was formed as a joint venture by American Express and Maritz. Inc in 1997.
However, recently Blackhawk Networks acquired Intelispend in December, 2013. And we think it was a great buy. Corporate R&R spends are increasing and Intelispend was a major player in that segment.
InteliSpend Prepaid Solutions LLC., specialized in intelligent prepaid solutions for business. The platform helped to design prepaid card products that can do everything possible that a prepaid card to do. They had a working relationship with American Express, Discover, MasterCard and Visa which give the customers even more options.
Intelispend also had an impressive list of clients. They included 71% of the Fortune 500 and satisfaction levels exceed 92%, according to the company.
Now with Blackhawk, the company is expected to operate in the similar fashion. Their patented process, DirectSpend, offers a unique type of card customization called as Selective Authorization. This gives the customers the freedom to choose what merchants to include or exclude from card redemption. This has seen good response from the customers and helps to differentiate them from competitors.
They offer a wide range of products and services in the prepaid domain. Two special features include universal acceptance and selective acceptance. Their rebates, loyalty and giveaways are quite popular because they can be tailored to choice.
A wide range of offerings is what makes them tick. The impending acquisition will play a huge role in the future of this organization. Two prepaid giants coming together does not happen everyday.
Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading & Blogging with focus on New Innovation, Technology & Startups in the Payments Space.
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