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What is a Prepaid Visa Campus Card?

Date post: 02-Dec-2014
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Prepaid Visa campus cards are school-issued debit cards that combine official school identification with Visa debit card functionality and convenience.
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Prepaid Visa Campus Cards Contact Us 36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com
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Page 1: What is a Prepaid Visa Campus Card?

Prepaid Visa Campus Cards

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

Page 2: What is a Prepaid Visa Campus Card?

INTRODUCTIONS

David EasonChief Executive Officer

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Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

Page 3: What is a Prepaid Visa Campus Card?

Since 2005 we’ve helped 500+ clients with consumer loyalty, rebate, and incentive programs, as well as with employee, channel partner, and sales team reward programs.

BERKELEY HELPS YOU IMPLEMENT PREPAID VISA CARD PROGRAMS IN CANADA AND THE USA.

Flexible

Our VISA cards offer unprecedented flexibility in their wide range of uses and in VISA’s acceptance worldwide.

Simple

Our prepaid VISA programs are simple to set up, manage, administer, and for cardholders to use.

Effective

Cardholders get fast and convenient access to both on-campus and off-campus funds with a single multipurpose card.

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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Page 4: What is a Prepaid Visa Campus Card?

• Student identification• Building access• Library card• Meal plans, vending machines,

copies, printing, laundry, parking, bookstore, transportation etc.

• All transactions off-campus or online where Visa is accepted, processed as a standard debit card

• Funds can be loaded by the cardholder, parents, the university (for Financial Aid), or employers

Prepaid Visa Campus Cards combine a college or university campus ID card for students, faculty, and employees with the functionality of a Visa debit card.

WHAT IS A PREPAID CAMPUS CARD?

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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Page 5: What is a Prepaid Visa Campus Card?

Prepaid Visa Campus Cards combine a college or university campus ID card for students, faculty, and employees with the functionality of a Visa debit card.

CARD ELEMENTS

• A Visa campus card design may include the associated school’s proprietary payment service name and/or campus ID card name on the front of the card.

• The name of the school’s proprietary payment service may also appear on the back of the card.

• The Issuer’s name must be clearly identified on the front or the back of the card, as well as on all program materials.

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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Page 6: What is a Prepaid Visa Campus Card?

Prepaid Visa Campus Cards may only be issued to active students, faculty, and employees at colleges and universities located in Canada.

CARD GUIDELINES

• Issuers will work with each school to define “active” status in the context of the program.

• Cardholders no longer “active” (graduates, former faculty members etc.) may be eligible to obtain an Affinity Visa card that does not function as a campus card.

• Issuers must provide an enrollment process whereby cardholders can “opt-in” (and qualify if dictated by the Issuer’s card issuance criteria) for the Visa Campus Card.

• Those who choose not to receive the card, or do not qualify, receive the standard campus ID card.

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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Page 7: What is a Prepaid Visa Campus Card?

Prepaid Visa Campus Cards have advantages over traditional Campus Cards and Affinity Cards.

CARD COMPARISONS

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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Visa Campus Card

Traditional Campus Card

Affinity Cards

University Logo on Card

✔ ✔ ✔

Plus/Interlink Access

✔ X ✔

ID, Building Access, Library

✔ ✔ X

On Campus Micropayment Transactions

✔ ✔ X

Off Campus Merchant Transactions

✔ X ✔

Page 8: What is a Prepaid Visa Campus Card?

Cash37%

Check4%

Debit39%

Credit12%

Other8%

Most students prefer debit cards, but they are also heavy cash users since few have adequate credit history.

CONSUMER PROFILE

• 62% of students own a debit card and prefer using it to other payment methods

• Debit represents the highest percentage of total monthly spending

• Cash usage is high due to inadequate credit history and low financial awareness

• 29% of students indicate they rarely / never use debit for purchases

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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Share of Monthly Spending ($)

Sources: Visa Product Design Optimization & Pricing Sensitivity Study: Parents, Teens, College Students (Conjoint), 2010; Student Monitor, Financial Services, Spring 2011.

Page 9: What is a Prepaid Visa Campus Card?

For students who already have debit cards, consolidation means convenience. For students who use cash, a Visa Campus Card provides more flexible payment options.

ADVANTAGES

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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Direct parent access and visibility to transaction history and statements.

Cardholder, parents, university (for Financial Aid), or employers can easily add funds.

Automated loading for monthly budgeting.

CONTROL

Reduce frequency of cash withdrawals and usage.

Can be used during international travel -anywhere Visa is accepted.

SECURITY CONVENIENCE

One card for student ID and all transactions both on campus and off campus.

Pay bills and have the freedom to make credit card purchases processed as debit through the Visa network.

Page 10: What is a Prepaid Visa Campus Card?

Issuers must engage proactively with campuses and third party providers to manage the campus card lifecycle.

BEST PRACTICES

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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First Year student registration initiates activities for issuing Visa Campus Cards

Campus and issuers proactively communicate and promote card functionality and terms

Issuers must provide educational support for students to increase student awareness of money management skills.

Involved third parties handling payment card data are CISP compliant

Issuer works with the university to convert graduating campus cardholders into Affinity card holder products

Page 11: What is a Prepaid Visa Campus Card?

Berkeley provides universities and colleges the ability to leverage existing technology platforms, vendor networks, and ecosystem expertise with a single point of accountability.

HOW IT WORKS - ECOSYSTEM

Compliance

New Technologies and Mobile

Processor

CardholderFulfillment

Payment Association

Manufacturing

University / College

Financial Institution

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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Page 12: What is a Prepaid Visa Campus Card?

Questions?

Contact Us36 Toronto Street, Suite 1120, Toronto / 416.642.6924 / berkeleypayment.com

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