My Clear Reports, a payment technology provider of solutions and services, is adding the MerchantCard MasterCard Prepaid Business Card to its MCR virtual business centre for merchants (view press release). The MerchantCard is a virtual bank account and business card designed for business owners and their employees, which aims to provide the benefits of a traditional bank and debit card relationship, without the need for a bank account. My Clear Reports’ new product can be used for purchases or to access cash anywhere that MasterCard is accepted around the world. Merchants will have the ability to control funds with features such as automatic email and text alerts when purchases are made and when funds are loaded or transactions of any type occur. They will also be able to transfer funds to and from multiple cards and bank accounts and restrict use at any time. In addition, merchants can earn cash back every time their cards are used at the PoS.
MCR’s virtual business centre provides MerchantCard account access, at any time, enabling merchants to order and activate cards, manage expenses, pay bills and load and transfer funds, so that they can manage business finances.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more