SAN FRANCISCO — Visa Inc. has added an enhancement to its prepaid reload network, Visa ReadyLink, which will enable consumers to add funds to eligible Visa prepaid cards at participating ATMs that accept envelope-free deposits across the United States. The new service is expected to rollout later this fall.
According to a news relase, more than 7,000 merchant locations across the U.S. have implemented Visa ReadyLink since it first launched in 2006. The service supports the adoption of prepaid products by helping meet the needs of financially underserved consumers — the more than 80 million consumers in the U.S. who lack access to a payment card or a traditional banking relationship, and who rely heavily on cash for everyday transactions.
"By bringing Visa ReadyLink first to retailers and now offering advancements to make reload capabilities available at ATMs, we can provide a much safer and easier alternative for cardholders," said Brian Triplett, head of Prepaid Products at Visa Inc. "We intend to continue to use the value of Visa's network to grow the prepaid category in ways that help our partners capture a greater share of cash and check spend."
With Visa ReadyLink, consumers have an easy way to reload funds to Visa reloadable prepaid cards including payroll, general purpose reloadable and government disbursement cards at everyday merchant locations like supermarkets and convenience stores, providing immediate access to funds with a safer, more convenient payment alternative to cash and checks.
Thousands of envelope-free ATMs enable customers to conveniently make deposits by simply inserting cash or paper checks directly into a financial institution's ATMs. Likewise, consumers with eligible Visa reloadable prepaid cards will be able to add cash funds to their cards conveniently and securely in the same manner at participating ATMs.
