Even with our current global challenges, consumers are still ramping up their travel plans. Expedia is calling 2022 the year of the GOAT, or the “Greatest of All Trips.” This is an opportunity for credit unions to reach out and serve their members with a financial tool designed to meet their travel needs—the reloadable prepaid debit card.
Reloadable prepaid cards are ideal for members to use when they’re enjoying a weekend getaway, visiting family across the country or traveling to the next destination on their bucket list. These cards are more secure and practical than cash and traditional credit cards while traveling. A good prepaid program for travel also includes protections and other convenient benefits such as:
- Emergency card replacement services
- Emergency cash services
- Lost luggage reimbursement
- Travel and emergency assistance services
- 24/7 live operator support to cardholders
- Lost and stolen card reporting services
- Cardholder inquiry services
Other important features for members include tools that help prevent overspending like purchase text alerts and low card fees. Prepaid cards are also good for credit unions and can help grow member loyalty while earning additional revenue.
As people increasingly venture out and take those long-awaited trips, prepaid cards can help credit unions serve members’ needs. If your credit union offers a prepaid program, don’t miss this opportunity to highlight the benefits of using these cards for travel. If you don’t have a prepaid program, now is the time to consider offering one with travel benefits that will serve members from their summer vacations to holiday travels.
If you don’t already have a prepaid program with member travel benefits, the right partner can help make offering one a simple step for your credit union. As a leading provider of payment processing services, Envisant is here to help. Contact us at 1-800-942-7124 to learn how we can help you achieve your vision for your prepaid program.