REV Prepaid enables Interac e-Transfers from corporate prepaid cards
New functionality allows cardholders to transfer funds to bank accounts, expanding prepaid cards beyond spend-only use.
REV Prepaid has introduced outbound Interac e‑Transfer functionality to its corporate prepaid card platform, allowing cardholders to move funds directly from a prepaid card to a personal bank account. This makes it the first provider in Canada to offer such a feature, transforming prepaid cards from spend‑only tools into flexible instruments that let recipients decide how to use incentives, rebates, rewards or disbursements.
Key Highlights
Direct e‑Transfer from prepaid cards: Cardholders can now use Interac e‑Transfer to move funds from a corporate prepaid card to their bank account, offering an option beyond point‑of‑sale purchases or ATM withdrawals and reducing the gap between prepaid programs and everyday banking.
Flexible access to funds: By converting prepaid cards into multi‑use instruments, recipients can choose whether to spend at merchants or transfer money, aligning the experience with modern expectations of choice and autonomy.
Reduced friction for organizations and users: Giving cardholders control over fund access is expected to decrease support requests and improve program adoption by eliminating frustrations associated with limited use cases.
Alignment with evolving payment preferences: Interac e‑Transfer is widely used for transferring funds between accounts; integrating it into corporate prepaid programs makes those cards feel more like digital payment tools and less like restrictive payment devices.
Enhanced program capabilities: REV Prepaid’s platform already offers customizable prepaid programs, real‑time fund management and secure payment infrastructure; the addition of outbound e‑Transfer strengthens its role within the Canadian payments ecosystem.
❓ What can be taken from this
The introduction of outbound Interac e‑Transfer on corporate prepaid cards signals a shift toward greater flexibility and autonomy in business payment solutions. By allowing recipients to transfer funds to their own bank accounts, prepaid programs become more adaptable and user‑friendly, potentially boosting adoption and satisfaction while reducing support burdens for organizations. This move illustrates how financial services providers are evolving to meet modern expectations for convenience and choice, offering alternatives to traditional payment methods that better align with the ways people prefer to manage their money.
