Prepaid Credit Cards

Accepting and Processing Prepaid Cards at your Point-of-Sale (POS)

Prepaid Visa and MasterCard cards are payment cards containing a preset amount of funds that can be used at any merchant location that currently accepts credit cards for purchases.

Visa Prepaid Cards

A Visa Prepaid card is unembossed – there are no raised letters or numbers. The card is smooth and displays the Visa brand mark, along with a 16-digit account number, the cardholder’s name and the message ‘Electronic Use Only’. A Dove Hologram may appear on either the front or the back of the card with the cardholder’s signature and the magnetic stripe.

For complete details on how a valid Visa Prepaid card looks, click here

Processing a Visa Prepaid card transaction:

• Ask the cardholder how much to deduct
• Follow the same procedures as you would with a Visa credit card—swipe the card, enter the amount and obtain an online authorization
• Ask the customer to sign the receipt and check the signature against the one on the card
• If the value of the purchase is greater than the balance on the Visa Prepaid card, the transaction will be declined. The cardholder may split the transaction between the Visa Prepaid card and another payment method if your business and/or transaction processes allows(s) for it.
• A Prepaid card can only be used at electronic terminals that can obtain an immediate online authorization
• For other processing details, please click here

MasterCard Prepaid Cards

The MasterCard Prepaid card allows consumers to load an amount of money (up to a preset limit) into an account associated with the card. The cardholder can then use their Prepaid card to make purchases or cash withdrawals at an ATM. Those purchases and cash withdrawals are deducted from the account balance. As the balance is spent, the cardholder can reload additional funds on to their card.

How to process a MasterCard Prepaid card transaction?

Processing a MasterCard Prepaid card is simple; it has all the same rules and protections as a regular MasterCard credit card.

< Back