Payment Card News

Canadian Businesses Enabled to Create The Perfect Visa Prepaid Card

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Blackhawk Network has launched its first website for businesses to purchase prepaid cards as rewards in Canada. The website provides businesses of any size with a single, convenient online store to purchase bulk orders of a variety of well-known branded egifts, including those in the retail, dining and gaming industries, or to customize their own company-branded The Perfect Gift Incentive/Reward Prepaid Visa Card. 

The Perfect Gift Incentive/Reward Prepaid Visa Cards are issued by Peoples Trust Company and can be customized with company logos or chosen from a gallery of photos, and are perfect for employee rewards, vendor gifts and workplace incentives. They are available in variable load denominations from $20 to $200, and are accepted electronically where Visa is accepted.

Prepaid cards are reward vehicles which have been embraced by employees. According to research by the incentives division within Blackhawk Network1, the employees surveyed reported that such reward prepaid cards are the top reward choice in many circumstances. If offered a $100 reward, 92 percent of employees surveyed would prefer a closed-loop (specific to one merchant —like a local retail store or restaurant) or open-loop (bearing the Visa logo) prepaid card, versus a reward that can be redeemed online from select participants (six percent) or a catalog where rewards can be selected (one percent).

Additionally, employees surveyed prefer reward prepaid cards even when the value is less than other rewards; for example, 45 percent would prefer a $500 reward prepaid card over just 37 percent that would select a four-day, all-inclusive vacation, and 12 percent that would pick $1,000 in merchandise credit from a catalog.

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