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Solutions

 Engage offers multiple leading edge solutions for launching new payment card programs or enhancing existing programs based on our Engage360 Platform.

 
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Spend Control

Most existing budgeting solutions are tedious to set up and maintain, driving consumers to search for better solutions. This is the reason “budget” is the top search term for personal financial management (PFM) websites.  Engage Financial Technology's focus is on simplicity and requiring no upfront setup, so that your customers can have delightful experiences without any upfront effort. 

The market for Personal Financial Management (PFM) software is growing and shows even brighter signs of growth when new, innovative approaches are taken to address the market needs.  In fact, 56% of consumers say they are most likely to use PFM tools from their primary bank or credit union.

Employing Engage Spend Control not only give customers what they want from the solution provider they prefer, YOU, its features more than double the average spend volume per customer each month.  Spend Control gives customers the value-added features they desire and it gives them an incentive to use their card for ALL their daily living expenses.  On average, using Spend Control generates more than twice the average interchange revenue per cardholder each month.

 
 
 

Mobile Features, like Spend Control, are Critical to Staying Competitive

An advanced mobile offering can play a significant role in driving customer acquisition and retention.  Mobile is quickly growing beyond simply another “channel.” In fact, 39% of consumers say that having a mobile offering is either “extremely important” or “important” in their decision to switch primary FIs. Additionally, when comparing the set of features for choosing a new FI between consumers who currently use mobile banking and those who do not, mobile played a decisive role in mobile banking users’ bank selection decision. 

 

 

Prepaid

IN 2014, 59% OF ALL PREPAID CARDS ARE USED BY BANKED CONSUMERS.

A survey by MasterCard concluded that the number one reason banked consumers use prepaid cards is to “help them budget and control spending.” By integrating a prepaid card into a virtual “envelope budgeting system,” Engage helps you ride the momentum of this consumer prepaid card trend.

The number of prepaid cards being used by banked consumers is projected to double to 32M cards by the end of 2015.

Debit

Engage can plug-in to your customers' existing DDA accounts and turn your checking/debit products into an incredibly valuable tool for your customers who want to gain control over their financial outlook, but don't necessarily want to get a new card to help them get that control. 

Credit

As with debit and prepaid, Engage can connect to your existing credit accounts to add value for customers interested in controlling their monthly spend.  The added benefit of the Spend Control features differentiates your credit products from competitors and makes it more likely to move cash-based purchases to the card and it increases your share of wallet with your existing customers.

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Enhanced Security

Enhanced Security features include: Instant Transaction Alerts, Self-Service Card Lock, Timed Security Lock, Transaction Parameter Alerts and an Automated Dispute Process.  Together these features allow the customer to see and review every charge that's made the moment they happen, help themselves to secure the card if it is temporarily misplaced, self-determine the level of security they want on their card, and easily fight a charge if it seems suspect.

A major trend driving the “enhanced control” payment card market is driven by consumer demand for enhanced security controls on their payment cards. In the last year there have been multiple high-profile payment card data breaches at Target, Home Depot, Kmart, and JPMorgan Chase Bank that have affected over 76M households in the United States. These data breaches have shaken consumer confidence and heightened concerns about payment card security. As a result, many consumers are looking for payment cards that offer enhanced security. A recent survey by Mercator Advisory Group (Customer Monitor Survey, Payments, 2014) indicates that 41% of consumers are seriously interested in card account controls on payment cards. At Engage, we also identified this trend early on and have built enhanced security features into our Engage360 Platform. These features enable you to offer enhanced security on Engage-enabled debit, credit, and prepaid cards.

 
 
 
 

Prepaid

Add Enhanced Security features to your prepaid card programs.  Reduce expenses from allowing customers to self-lock temporarily misplaced cards rather than ordering replacement cards and improve customer satisfaction by allowing when and where to lock their own cards for additional peace of mind.

Debit

To most customers, debit is one of the most critical cards to feel "secure" using. Not only is it directly connected to your customer's primary checking (DDA) account, it is also used most often of any card in consumers' wallets.  Customers will not only appreciate that they can set a level of security that makes them comfortable, they will come to expect it. Additionally, features like instant transaction alerts will help them self-monitor fraud, in turn, helping you catch fraud earlier and reduce its overall occurrence.

Credit

Like debit, credit cards benefit significantly from instant transaction alerts.  Your customers are the most vigilant defense against being victims of fraud when they have the information in real-time.  By adding automated disputes into the interaction flow, you not only have an opportunity to delight customers in an otherwise scary circumstance, you can also cut down on the work to log, investigate and ultimately solve incidents of fraud.

 
 
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Student and Dependent Card Programs

One of the top reasons banked consumers use prepaid cards is to give them to a student or other dependent in their household.  These cards are an excellent tool to teach financial responsibility and they are an easy way to send money to loved ones instantly in a manner that maintains some oversight and accountability.

 
 

STUDENT CARDS

Our student cards help your customers track, load or lock cash in an instant. It can do things cash can't. It's a smarter and safer way for your customers to teach responsible spending to their teen and dependent young adults.

Students will love having the credibility of plastic. Your Student Cards can give them real life, hands-on training to manage a budget without having to worry about credit risks or overdraft fees. It's peace of mind and a simple way for a caring guardian to step in when necessary.

Dependent Cards

We realize that not all dependents are teens and young adults.  Many times Adult family members may rely on your customer's for financial support.  Our dependent cards use the same model for oversight as our student cards, but are geared toward respecting the adult user of the card to make adult decisions without the same level of oversight a younger user of a student card might need.

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Custom Prepaid Programs

The Engage team has a long history of deploying custom General Purpose Reloadable (GPR) Prepaid card programs.  If you have special needs for custom GPR card programs, please inquire about our capabilities.

 
 

TRAVEL CARDS

PROJECT CARDS

GENERAL PURPOSE CARDS

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Mobile App Enhancements

As part of our customer development services for bank partners, Engage Financial Technology offers custom mobile design and development on iOS and Android designed to enhance your payment card programs.