Contact Center Solutions Featured Article

VendTek Systems, Peoples Card Services and Visa Canada have launched Canada’s first prepaid virtual Visa program.

 

This latest launch follows an agreement between VendTek, Peoples, and Ireland based payments company 3V Transaction Services (3V) to launch the 3V Virtual Visa flagship product in Canada.

 

The terms of the agreement calls on Peoples to act as the Visa issuer, while VendTek will be responsible for marketing and distribution of the 3V product. VendTek, Peoples and 3V expect to spend up to $300,000 in marketing the costs in the first year.

 

An online payment method, the 3V Voucher allows customers to shop online or by phone using a prepaid disposable 16-digit Visa number. Companies’ officials said that these virtual Visa numbers can be used online just like a standard credit card.

 

“We’re delighted to partner with VendTek Systems and Peoples Trust Company on the virtual Visa voucher program by 3V, which will provide Canadians with an innovative and convenient payment solution,” said Brian Triplett, head of global prepaid products at Visa.

 

The 3V voucher program will be introduced to the Canadian market in December, and customers will be able to buy 3V vouchers from participating “Now Prepay” serviced retail outlets in the same way they currently purchase credit for their prepaid mobile phones, said company officials.

 

Also, the program will permit customers to move funds between their 3V virtual Visas or deposit funds back to their bank accounts if they so wish. Company officials said that the 3V Voucher has been designed to enable people to go online and shop instantly without any un-necessary delays.

 

Doug Buchanan, president and CEO at VendTek, said he expects 3V Voucher to be a very popular product for the Canadian market.

 

“We have approximately 15,000 terminals on our Canadian network and we will provide them with a wide customer base to launch the Virtual Visa voucher program, Buchanan said.

 

“We are pleased and excited to be a part of this innovative product offering and are confident it will be of significant benefit to Canadian consumers,” added Frank Renou, president and CEO at Peoples Trust Company.