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We actually use the interchange revenue that would be going towards rewards points to pay for the costs of building/running the product. There may be enough lef
by lm741 11y ago
We actually use the interchange revenue that would be going towards rewards points to pay for the costs of building/running the product. There may be enough left over to do a rewards program in the future, but for now the product is the points. :)
- abalone 11y agoReally, off of debit transactions? I thought interchange is only 0.05% + $0.21, which doesn't seem like enough to power rewards ever. These days I thought it's only credit cards that can support rewards (closer to 2% interchange).
- lm741 11y agoIt's issued under a Durbin exempt, commercial, prepaid BIN.
- abalone 11y agoInteresting! But wait a second... how does this work with prepaid cards? Do companies need to preload funds onto the cards before employees can spend them? E.g for an employee to spend up to $5,000 on a trip, would the company have to preload $5K onto the card? Or alternatively would employees have to get approval for each expense in advance of spending it?
- pbreit 11y agoI believe the company sets up a balance with Dash and all the debit cards tap that balance. So it's pre-funded but not per card.