CINCINNATI, Oct. 1, 2012 /PRNewswire/ -- Vantiv, Inc. (NYSE: VNTV), a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes, announced today that its prepaid product platform has expanded to support Incentive, Rebate, Reward and Disbursement (IRRD) programs. The new network-branded prepaid cards complement Vantiv's open loop prepaid gift card product launched earlier this year and their general purpose reloadable (GPR) launched in 2011.
IRRD cards facilitate a variety of uses and applications such as product trial, sales promotions, individual and team awards, customer appreciation, insurance claims, and government and higher education payments. The open loop prepaid card can be co-branded by participating financial institutions and businesses and used anywhere MasterCard® is accepted in the United States.
"As prepaid cards quickly become a preferred payment of choice for consumers and businesses, Vantiv is pleased to offer an expanded platform of prepaid solutions," said Bill Weingart, Chief Product Officer at Vantiv. "Prepaid cards provide a convenient, flexible and safe payment tool to drive consumer actions and loyalty, attract new customers, motivate and reward employees, simplify the payment process, and reduce administrative costs. This addition to our suite of prepaid products further demonstrates our commitment to offer innovative payment solutions that drive revenue and value to our processing financial institution and merchant partners."
Like all Vantiv card programs, Vantiv's prepaid card products are safe and secure, utilizing comprehensive controls on fraud monitoring, and full cardholder customer service support. Other features of Vantiv's prepaid card offerings include secure online program and cardholder account management tools, flexible card funding options such as same-day card loading, and program controls that allow customers to create customized programs that meet their individual needs. Design features and account activation are easily managed through Vantiv's secure management portal and 24/7/365 bilingual support is included.
For more information about Vantiv's prepaid solutions for merchants and financial institutions, visit http://www.vantiv.com/Products/Prepaid. A thought leader in the prepaid space, Vantiv is also on Twitter, Facebook, LinkedIn and Google+.
About Vantiv, Inc.
Vantiv, Inc. (NYSE: VNTV), is a leading, integrated payment processor differentiated by a single, proprietary technology platform. Vantiv offers a comprehensive suite of traditional and innovative payment processing and technology solutions to merchants and financial institutions of all sizes in the U.S., enabling them to address their payment processing needs through a single provider. We build strong relationships with our customers, helping them become more efficient, more secure and more successful. Vantiv is the third largest merchant acquirer and the largest PIN debit acquirer based on number of transactions in the U.S. The company's growth strategy includes expanding further into high growth payment segments, such as prepaid, ecommerce, mobile and information solutions, and attractive industry verticals, such as business-to-business, government, healthcare and education. For more information, visit www.vantiv.com.
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Lynn M. Rhoads, Senior Vice President
SOURCE Vantiv, Inc.