New reloadable prepaid card for everyday purchases in Brazil

Banking and Company News

MasterCard, American financial services provider Banco PanAmericano and Rev WorldWide, a global prepaid payment services provider, have launched a reloadable prepaid card for everyday purchases in Brazil. The card can be used online or in bricks-and-mortar locations where MasterCard is accepted. Additionally, customers ara able to withdraw cash from ATMs worldwide, transfers funds between  card accounts and use integrated mobile features to check balances and confirm transactions via their mobile phones with a text message. The reloadable prepaid card is aimed at Brazil’s unbanked population which is estimated at 75 million people.

 Payment cards and mobile, May-June 2011