DCR Partners with MasterCard to Launch the TruCash Reload Network
The TruCash MasterCard Prepaid Card is the first card that can be loaded in Canada at TruCash reload stations through MasterCard rePower™
MISSISSAUGA, ONTARIO–(Marketwired – June 20, 2014) – DCR Strategies Inc., a leading Canadian provider of prepaid products under the brand name “TruCash,” announced today it will launch a consumer-friendly solution that allows eligible cardholders to load funds onto prepaid cards at participating TruCash merchant locations. The TruCash Reload Network will accept card programs enrolled in MasterCard rePower. The TruCash Reload Network will officially launch on June 21, 2014 at Gold Line locations nationwide with full program execution at thousands of merchant locations to be completed later this year.
TruCash will enable cardholders to load funds by simply using cash or other accepted forms of payment at participating TruCash merchants, then swiping their card through an electronic point-of-sale device at checkout. Reloads are securely processed through the MasterCard rePower Network in real time, giving cardholders access to their funds immediately.
The MasterCard rePower Network continues to expand globally and is now available in five countries, making electronic payments and financial services more efficient and accessible for consumers. In Canada, MasterCard rePower is open to any issuer of reloadable prepaid card programs.
TruCash has partnered with Home Trust to provide acquiring services and Carta Worldwide to provide processing. “We are taking an already successful concept, the merchant reload network, and have added some unique twists to make prepaid more attractive for both consumers and businesses. Green Dot for instance has created a multi-million dollar business from such opportunities. We hope to hone in on this success by expanding our merchant network and adding new and exciting contactless payment possibilities for the future,” said Diana Fletcher, President of DCR Strategies Inc./TruCash.
“Prepaid cards are an important tool for many Canadians, offering financial inclusion and an unsurpassed level of flexibility and security compared to cash and cheques,” said Tom McTague, MasterCard Canada’s Vice President of Prepaid Products. “MasterCard is working hard to make prepaid products easier to use, and the TruCash Reload Network is an important step forward in these efforts.”
Brian Semkiw, CEO of Carta Worldwide said, “We are pleased to have been selected as a partner in this major initiative. Canada has never seen anything like this and we look forward to extending its capability into mobile account loading from a variety of methods, including contactless.”
“Launching this great new prepaid MasterCard is a fantastic opportunity for us at Group of Gold Line to offer our customers yet another product that gets us closer to our goal of facilitating meaningful connections. The GLPrepaid MasterCard is an empowering tool for Canadians that wish to do secure online shopping, that are underserved or companies that wish to save money by using GLPrepaid as an alternative for their payroll. We are proud to offer it.” says Ata Moeini, CEO and President of Group of Gold Line.
About DCR Strategies Inc. – TruCash DCR Strategies Inc./TruCash is an award-winning creator of prepaid products including reward and incentive-based prepaid cards, sales incentives, virtual rewards, and most recently, the truTap® Mobile Wallet. Founded in 2005, DCR Strategies Inc. has aimed to provide superior financial solutions to its clients. In the process, DCR has become a market leader in the prepaid industry and has won several awards including Paybefore’s Best Government-Funded Prepaid Program and Best Consumer Program. DCR also developed the first real-time loyalty points-to-cash redemption program for prepaid cards, allowing cardholders to earn points while shopping and redeem for cash rewards. DCR Strategies is also on Twitter, Facebook, LinkedIn and Google+.Learn more at www.dcrstategies.com/about_dcr.html.
MasterCard (NYSE:MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardCAnws, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
About Carta Worldwide
Carta Worldwide is an international leader in digital transaction technology, specializing in mobile and emerging payments. Carta’s next-generation platform is specifically architected to meet the complexities of the evolving payments environment. It excels where legacy systems are challenged, delivering end-to-end solutions that bridge the gap between financial and mobile systems.
About Home Trust Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering deposits, residential and non-residential mortgage lending, securitization of insured residential first mortgage products, consumer lending and credit card services. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.
About Group of Gold Line The Group of Gold Line (GL) is a Canadian company specializing in the research, development, marketing and worldwide distribution of telecommunication solutions and technology products. Its portfolio ranges from telephony, web to print digital printing, WebTV and educational technologies. Founded in 1991, GL has evolved to become the largest provider of prepaid long distance products and services in Canada with over 300 million minutes of long distance calling per month. Its products are distributed in over 50 countries, with approximately 100,000 points of sale around the world. GL’s mission is to connect people around the world to what matters and bring them closer to their family, business, culture and languages through innovative, unique and competitive technology-based products and services.