SAN FRANCISCO, Jan. 2, 2018 /PRNewswire/ -- Prepaid2Cash, a service which easily, conveniently, and securely converts network-branded (Visa, MasterCard, Amex, Discover) prepaid cards into cash, today announced the availability of both its iOS and Android apps. After initial set up, the Prepaid2Cash app allows users to simply scan their prepaid card and promptly receive payment via direct deposit, usually within three business days. Prepaid2Cash is the first company and only app available today that offers a cash withdrawal for the prepaid gift cards that bear the logo from the big four network-branded payment networks.
Click here to see a video of how the Prepaid2Cash app works.
Prepaid gift cards have become increasingly popular as an alternative to cash and are often used for employee incentives, customer rebate programs, or gifting. While the extra income is always welcome, cards can get lost or forgotten, and are often saddled with usage-based restrictions or have diminishing values and fees, making it challenging for consumers to receive the full face value of the card. The obstacles are so great, in fact, that according to a recent study, over $300 billion dollars in cards are issued every year and anywhere from 25-50 percent of them go unused, leaving $75-150 billion dollars of value on the table for consumers to recoup.
"Unrestricted cash is the most desirable to consumers," says Peter Vogt, Co-Founder of Prepaid2Cash. "As a financial executive and consumer myself, I experienced firsthand the challenges when trying to use my prepaid gift cards. Prepaid2Cash has applied technology to a widespread problem, and provides consumers with an option that enables them to unlock cash from their prepaid cards and have the freedom to pay for things like car payments, travel, rent, or perhaps simply put the money to work for them in savings."
Prepaid2Cash App Features:
- Quick Cash: Transaction approvals and direct deposit settlement within 2-3 business days.
- Simple Scanning: Customers are able to quickly scan their prepaid cards without requiring long form data input.
- No Account Number Required: Prepaid2Cash offers a secure portal to log into bank accounts for user's bank online credentials so no need to remember bank account or routing numbers.
- Confident Security: Going mobile improves security while speeding up access for customers. In iOS users can use TouchID and in Android they can use a customer PIN.
Pricing and availability
Prepaid2Cash apps are available today on both iOS and Android. Prepaid2Cash only charges a 7.5% processing plus $1.50 for direct deposit delivery fee, the lowest cost and fastest delivery option possible for obtaining cash for your prepaid card. Here is a link to a calculator to determine how much money consumers can derive from a prepaid card.
For more information, please visit www.prepaid2cash.com.
Prepaid2Cash is an app-based service that easily, conveniently, affordably, and securely converts your network branded (Visa, MasterCard, Amex, Discover) prepaid cards into cash. Simply download the app, scan your prepaid card, and get your cash direct-deposited within 3 business days. Prepaid2Cash was founded in 2011 by two financial technology entrepreneurs in San Francisco. They partnered with leading banking and payment institutions to offer a simple, safe, and speedy service to help consumers redeem their prepaid cards for cash, and Prepaid2Cash was officially launched to the public in 2016.