Card Compliant Announces Release of a State-Of-The-Art Prepaid Card Technologies Platform to Power the Recently Launched CIMI Card
Summary
Featuring three key components, its Data Now℠ hub, its Compliance Now℠ modules, and its Terms Now℠ center, the platform leverages technology to address the complexities of modern prepaid card issuance. Featuring three key components, its Data Now℠ hub, its Compliance Now℠ modules, and its Terms Now℠ center, the platform leverages technology to address the complexities of modern prepaid card issuance. "Card transactions drive compliance with domestic and global laws and standards governing on many topics including accounting, tax, unclaimed property, anti-money laundering, , and even consumer protection," said Rouse. Originally designed to address compliance with varying laws governing disclosure of terms and conditions coupled with new laws requiring and tampering warnings, Terms Now℠ was expanded to add consumer friendly features such as ready access to terms and conditions; a method for providing cardholder notices including for anonymous cards; multiple language capability at a fingers touch; cash-out assistance where required by law; specialized ADA features designed by blind engineers for visibly impaired cardholders; and a unique approach to consumer hygiene with respect to personally identifiable information. "Controlled wording of the terms and conditions for prepaid cards has become a logistics nightmare particularly in light of the limited space on the back of a physical card and the problem of complying with laws in multiple jurisdictions including the 50 U.S. states and foreign countries on six continents," said Rouse.