Freedom of Choice & Financial Literacy: An Innovative Payment Solution For First Nations Communities
DCR Strategies Inc. has created a reloadable payment product for First Nations communities across Canada that streamlines payment distribution and reduces administration time and cost. The TruCash card eliminates issues related to cheques, budgeting, payment, and accountability, effectively enhancing the lives of First Nations in Canada, by offering freedom of choice and increased financial literacy.
Featuring the advantages of both debit and credit cards, but without any of the risks of credit or the limitations of debit, the TruCash Card provides a gateway that allows members of the First Nations of Canada to have convenient and affordable access to their finances. It gives communities another option for the management of government-issued and/or personal funds.
The TruCash Card offers the following benefits:
Freedom of Choice
Many First Nations communities are rural, remote, and offer very limited options, financial or otherwise. Members are often forced to pay higher-than-normal prices for goods and services because there might only be a single location for all of their banking needs and/or for purchasing their groceries, gas, and any other everyday items. The TruCash program offers members more ways to use their money; it permits access to online shopping, booking hotels, or renting cars – luxuries that so many Canadians take for granted – but these options were not previously available to many First Nations members. With this access comes more choice and more competitive pricing, allowing members to stretch their budgets further.
Bank Accounts or Credit Checks Not Required:
There are many First Nations communities that do not have access to traditional bank accounts, or some members prefer not to use them. Not only is a bank account not a requirement for the TruCash card, but no credit application is required, no credit is needed, and approval is guaranteed with verified cardholder information for any member aged 16 years and older. The card allows members to take care of their everyday financial needs without either of these impediments.
Financial Literacy & Empowerment
The TruCash program allows users to manage their money more easily, and empowers First Nations members to take a more active role in their finances. The days of standing in line each month waiting for disbursements are over. Members are no longer forced to cash cheques at local retailers and pay large cheque-cashing fees either. Instead, funds are instantly loaded onto cards, and can be accessed as needed.
The TruCash money management tools also enable transfers from one family member to another, allowing funds to easily be sent to students away at school. Accounts can also be set up to limit/restrict spending as needed. Thanks to its online platform, cardholders have 24/7 access to view and track their purchase history and balances in real-time via a dedicated web portal or the truTap mobile app, anywhere, anytime.
When it comes to convenience, the TruCash card can’t be beaten. The cards can be used anywhere Mastercard® or Visa® is accepted worldwide, including online or via phone, and cash can be withdrawn from ATMs. Funds are available whenever and wherever members need it.
The TruCash Card is a safer and more secure way to access money than traditional payment methods such as cash or cheques. Disbursement payments and expenses can be loaded into card accounts instantaneously, removing the possibility for cheque fraud or lost/stolen cash or cheques. If a card is lost or stolen, it can be easily replaced and the funds are transferred to the new card.
All TruCash cards feature a built-in loyalty component that allows cardholders to earn points for making online purchases. TruCash points convert to cash and are deposited directly into the card account–the only real-time points-to-cash loyalty program in the world.
Real-time reporting allows for greater transparency, which cuts down on fraud, improves customer service, allows for increased visibility, and increases the likelihood of program success.
WIth numerous advantages and customization options available to cardholders, prepaid payments programs are quickly becoming the preferred method of payment for government agencies. Cost-effective, efficient, flexible to use, and far more advantageous and secure than traditional payment methods, such as paper cheques, DCR Strategies’ government prepaid programs have won the 2017 Paybefore Award for Best Benefits Delivery and the 2011 Paybefore Award for Best Government Program.
The payment solution will improve operational efficiencies, support the local community, and provide an effective money management tool. Featuring state-of-the-art functionality, with the security and convenience of electronic payment cards, TruCash delivers greater financial freedom to the First Nations of Canada.
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