ElectraCard Services Pvt. Ltd. has signed on to participate in MasterCard Worldwide’s Partners in Prepaid program, the India-based provider of software services for electronic payment systems announced in a statement last week.
Under the initiative, MasterCard collaborates with local processors and program managers in the Asia-Pacific, Middle East and Africa regions to execute prepaid programs for MasterCard customers, according to ElectraCard, which says its agreement represents the program’s first collaborative effort.
ElectraCard says it will provide customized prepaid services through its electraPrepaid platform to issuers across the regions. ElectraPrepaid is designed to accommodate multiple institutions, countries, languages and currencies, and it supports such prepaid products as payroll, gift and travel cards, according to the company.
As a partner, ElectraCard also will support the prepaid card issuer with program management, agent management, card production, registration and fee management.
Both MasterCard and ElectraCard did not respond to requests for comment.