Why Do Companies Use White Label Debit Card Programs?

May 28, 2010 - PRLog -- Why Do Offshore Companies Use White Label Debit Card Programs?

An offshore company is, by definition, formed in a jurisdiction away from the country of origin of its individual or corporate owner. Almost exclusively such a company does business outside of the country where it is formed. An offshore company often finds it most efficient to pay for a variety of recurring expenses, or even one time expenses, by using its own brand of white label debit card. The payee, such as an employee, contract agency, or client, holds a debit card which the payer, the company, funds when payment is due. This system is especially effective for paying salary or reimbursing employee expenses when the employee is working and traveling far from the home office or when a client is similarly hard to send payment to.

A white label program will include the software for integrating payments systems with the company’s accounting and payroll systems. A complete “turnkey” system can be purchased using an offshore bank with licensing necessary to accomplish the money transfers necessary to fund the various debit cards that the company will use. Read more here http://userbancorp.com/co-brandedwhite_label_programs.html

Beyond the matter of simply paying employees roaming around the globe there are quite a few uses for white label debit cards. Depending upon the business of the offshore company the cards can be used to pay dividends, incentive payments, payment and receipt in the gaming industry or Forex payouts. The company may, in fact, buy these cards in bulk along with the appropriate systems an run its own debit card business. An offshore company can use these cards for a micro loan business anywhere in the world.

These cards are used with major credit card companies allowing use world wide. Such a card is easy to carry and allows the payee to take complete payment at once or use the balance as needed for expenses.

Offshore companies find the range of card options appealing as the white label debit card can be allied with Visa or MasterCard. The company can order EMV chip cards or the traditional magnetic strip. Cards can be embossed, personalized, or can be a strictly anonymous appearing card. The company can decide how much money to load cards with as a standard feature or have them shipped with a zero balance. Cards can also be activated if circumstances will not allow the recipient to activate. Cards can also be non-reloadable for one time use or can be continually reloadable as would be the case with paying employee salary, reimbursements and benefits.

A white label card program can be so seamlessly integrated with the company’s current payroll and accounting system that it will, in fact, save the company time and money over the alternatives. The bottom line of setting up a white label debit card program is really the bottom line of the business. Taking care of the business of payments in an efficient manner will allow the company owner and key workers to focus on the business of running and growing the company.

# # #

http://userbancorp.com

An offshore formations and banking specialist offering offshore structures, formation of companies, foundations, banks and financial institutions, incl government issued financial licenses.

Mail: geir.holstad@userbancorp.com