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Card Products and Services that Make Up Our Stored Value Card Programs

Each Datazoid SVC Program is built on one or more of our Standard Card Products:

Personal Spend Card (e.g., payroll, government beneficiaries, etc.)
Companion Card (e.g., spouse, teen, relative living abroad, etc.)
Gift Card
Instant Issue/One-Time Expense Card

These card products are our “basic building blocks” and are customized to develop specific types of cards that focus on and are attractive to a particular type of customer. Using these basic card types, Datazoid creates card products for markets like the unbanked consumer, government beneficiaries, employees, teens, and so on. These customized card products are used in developing the suite of products and services that makes up each of our SVC Programs.

This modular product approach provides Datazoid with a great deal of flexibility in developing customized programs to meet the needs for our clients. For example, our SVC Employer Program: “Save Time & Money”. This flexibility also means we can bring our programs to market quickly.

SVC Card Basics

To help you understand the great variety of our products and programs, here are some basics to get you started in learning how each standard card product is used to develop a particular type of customized product.

The naming of card products is somewhat arbitrary and varies from marketer to marketer depending upon how a given card will be marketed and the features and functionality of that card. The brand marks that a card bears and whether or not the card can be “re-loaded” help define how that card product can be used. The brand marks of a major card association mean that a cardholder can enjoy the features and purchasing power of those brands.

Cardholders are charged a fee to purchase their card, to maintain their account, and for various types of transactions, like Point Of Sale purchases, ATM cash withdrawals, and so on. But total monthly fees are in many cases less than what a cardholder would be charged for a bank checking account. These fees generate the revenues that drive our programs.

Our card association branded cards can be used to make purchases at any merchant that accepts the brand. If a card bears the a particular brand, it can be used to make PIN-based purchases and to obtain cash back at participating merchants, or to withdraw cash from authorized ATMs. Cards that also include an additional mark can be used to withdraw cash from ATMs on an even larger network.

Most of our cards can be configured to be reloadable or rechargeable. We also offer several types of non-reloadable cards, like our Gift Card and Instant Issue Card. Cardholders can reload our rechargeable cards in several different ways: through direct deposit by their employer or government agency; through deposits of cash, checks or money orders at retail cash loading locations; and online using a credit card or demand-deposit account. For certain types of reloadable cards, there are restrictions on who can reload the card and who can view the transaction activity of the cardholder. For example, a parent can purchase a teen card and know that only they are able to fund that card. The parent also can view their teen's transactions.

Our reloadable cards typically have a two-year life, after which they can be renewed. Our non-reloadable cards are usually good for one year and cannot be renewed after they expire.

Datazoid’s Standard Card Products

We have developed a number of “Standard Card Products” that we use to construct Specialized Card Products. These specialized products are custom-made for particular market segments and are a major component of our SVC Programs.

Standard Card Product: The Personal Spend Card

We call our most basic debit card the Datazoid Digital Money “Personal Spend Card”. This card is the foundation of all of our card products. Our Personal Spend Card is equivalent to a Check Card except that a check card is issued to persons with checking accounts, and those accounts are used to fund the card. Our cardholder doesn't need a checking account, and only those funds that the cardholder loads onto the card can be spent.

In the marketplace, this type of card comes in various flavors, including the payroll card, government benefits card, teen card and cash card. Some of our Personal Spend Cards bear a particular company or organization's name, in order to help market the card.

With these "basic ingredients" you can write your own recipe, and develop cards in a variety of different flavors.

Let's take, for example, an employee who purchases a Datazoid Digital Money Card. This employee can have their net wages loaded onto their card by their employer via direct deposit. Because of this, some refer to this type of card product as a “payroll card”.

But the Datazoid Digital Money Card is more. Our card can also be reloaded by employees using other options. Many cards marketed by our competitors as payroll cards are less flexible— they can only be loaded via direct deposit. We are also developing ways for a cardholder to use their account as an HSA, HRA and/or FSA account.

Government beneficiaries can also have their government funds loaded onto the card via direct deposit. In fact, cardholders can receive benefits from more than one government agency in addition to wages from their employer loaded onto their Datazoid Digital Money Card. While some marketers offer only a “government benefits card”, our card can also be loaded by other means.

Corporations can also purchase Personal Spend Cards and issue them to their employees to use a Corporate Expense Cards. Our Corporate Expense Card provides the Employer with more control than that provided by a credit card.

Although our Companion Card, Gift Card and Instant Issue/One-Time Expense Card are actually variations of our Personal Spend Card, we list them as separate basic card types, and they in turn are used to build many of the card products that are used to develop a particular type of SVC Program.

Related Topic: Overdraft Protection Program

Standard Card Product: The Companion Card

Another type of Personal Spend Card is the Companion Card. This product — also called a "secondary card" — is a kind of "accessory" to our Personal Spend Card; it’s purchased by an existing cardholder for his or her spouse, son or daughter, or a family member living in another country. The difference between a Companion Card and a basic Personal Spend Card is that the primary cardholder is also the only person who can load or fund the Companion Card.

Datazoid provides telephone-based Interactive Voice Response Unit (IVRU) systems and Web-based tools that allow cardholders to transfer funds from their primary account to the account that is funding the Companion Card. This allows a cardholder here in the United States to provide funds for a family member living abroad. Once the funds have been transferred by the primary cardholder, the Companion Card cardholder simply withdraws the cash from a local ATM. This is also a convenient way to provide a son or daughter with all of the conveniences of a credit card without providing a credit line. Using a Companion Card, the son or daughter can only spend the amount of funds loaded onto their card by a parent.

Standard Card Product: The Gift Card

Most people are familiar with Gift Cards that are offered by Starbuck’s, Home Depot, Nordstrom, Macy’s, and other merchants. These cards typically do not have the brand mark of a major card association, so they can only be used in the store that bears the name of the card. Recently, though, more generic gift cards that bear the brand mark of a prominent card association are being offered — see the Datazoid Digital Money Gift Card below to the right as example of one such card.

These gift cards can be used anywhere a card from the major card association is accepted. Our Gift Card can also be co-branded with the name of a merchant or affinity group as shown below to the left.

These Gift Cards are not only being purchased by consumers but also by corporations who are using these cards as “awards” for employee promotional, incentive and bonus programs. The principal difference between a Datazoid Digital Money Gift Card and one of our Personal Spend Cards is that a Gift Card cannot be reloaded by the either the recipient or the person who purchased the card. Recognized by its "Gift Card" imprint and distinctive design, the card is an attractive convenience for consumers, and a powerful business-building tool for merchants and corporations.

Standard Card Product: The Instant Issue/One-Time Expense Card

Our Instant Issue/One-Time Expense Card is designed to be used by Corporations/Employers involved in issuing paper checks for various “single event” activities, such as termination pay, bonuses, expense reimbursements, claim checks, etc.

An Employer/Corporation keeps a number of these cards on hand, and instead of issuing a paper check, the company loads funds onto the card in real time via electronic funds transfer from an Employer/Corporate demand deposit account. The card is given to the recipient on the spot. The recipient can immediately use the card to withdraw cash from an authorized ATM. The savings to an Employer or Corporation can be substantial, as paper checks can be very expensive to issue.

This card is similar to a Gift Card, except that the Gift Card is typically personalized with the name of the recipient.

Key Features/Functionality of the Datazoid Personal Spend Card / Digital Money Card

The table below lists some of the other more important features/functionality of our Standard Personal Spend Card. Features like bill payments and overdraft protection set us apart from our competition.

Datazoid Specialized Card Products

Our Standard Card Products are used to develop various Specialized Card Products, which are designed for particular market segments. Below, we discuss our SVC Programs, and explain how these Specialized Card Products are grouped by target markets.

Here is a partial list of those Specialized Card Products; click a link for a description:

Consumer Card
Consumer Card for Government Beneficiaries
Consumer Card for the Unbanked
Payroll Card
Merchant/Retailer Consumer Card
Affinity Group Consumer Card
Mall Consumer Card
Gift Card
Mall Gift Card
Merchant/Retailer Gift Card
Affinity Group Gift Card
Promotion Card
Incentive Card
Termination Pay Card
Insurance Claim Card
Membership Card
Corporate Expense Card
Travel Money Card
Secondary Card
Teen Card
Student Card
Flexible Spending Account (FSA), Health Savings Account (HAS), and/or Health Reimbursement Account (HRA) Card
Fleet Card
Purchasing Card
Money Transfer Card

Want to learn more?

For more information about our SVC Programs, Card Products, Value-Added Services and Reseller Opportunities, contact David Schnepp via our Contact Form, or call him at 310-345-7412.

 



Account Access:
Employers
Marketing Partners
Resellers

Frequently Asked Questions:

What is a Stored Value Card?
How does a payroll card work?
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Datazoid Stored Value Cards are marketed by Datazoid Enterprises, LLC Series B dba Datazoid Financial Services (DFS), a Delaware Series Limited Liability Company. Read more About Us...

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