Toronto-based Suretap has launched the launch of the suretap prepaid MasterCard. It’s a secure, easy-to-use virtual prepaid card that is now part of and only available through Canada’s leading open digital wallet experience, the suretap wallet.
This branded prepaid MasterCard boasts a low-fee structure that rivals most debit account fee rates, and launches with a no-monthly- fee, limited-time promotional offer.
The reloadable suretap prepaid MasterCard is ideal for tech-savvy millennials, young professionals and others who want real-time and easy access to their funds while on the go. The use of prepaid cards in Canada is expected to grow from $2 billion in 2010 to $19 billion in 2017, according to a global prepaid sizing study
Since introducing its new application in late June, suretap has experienced rapid growth as Canada’s leading open digital wallet. More than 180,000 Canadians now have suretap installed on their smartphones, with 80 percent of those users coming from Android. Suretap has seen that the average purchase value per transaction on the suretap wallet has increased 22% month over month, supported by a 53% increase in reload value per account. Suretap is also seeing a rise in overall purchase volume as consumers become more accustomed with mobile payments.
Suretap launched a new open wallet in June with broad support from leading Canadian wireless carriers, banks and retailers. The suretap application enables smartphone users to easily make secure mobile payments with a wide range of virtual and encrypted credit cards, gift cards and now suretap’s prepaid MasterCard. Suretap will add debit cards, loyalty cards, digital coupons and deals in the not-too-distant future.
Some of Canada’s leading wireless carriers such as, Bell, Rogers, TELUS, Koodo and Virgin Mobile, are now offering the suretap wallet across more than 30 Android and BlackBerry smartphones, with more smartphones and other device platforms expected to follow by the end of 2015. Suretap has also formed a partnership with the Canadian Imperial Bank of Commerce (CIBC), offering 38 credit card options available through the suretap wallet. In addition, about 30 physical and online retailers such as SIR Corp (who carry Far Niente, Loose Moose, Reds, and more), Cara Operations (who carry Canyon Creek, Harvey’s, Milestone’s and more), Indigo, Cineplex, Forever 21, Groupon, and others have also signed up to participate in the multi-partner program and are readily available in the suretap wallet.
For data, background and forecasts on suretap: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).