WVU has transitioned its provider for prepaid card services to Prepaid Technologies, effective today (June 15).
Earlier this year, WVU was notified by its prior prepaid card vendor, Vincent Payment Solutions, that the company is sunsetting its product. After a thorough review of potential providers for prepaid card services, the University selected the Prepaid Technologies platform.
Key features of the new system include:
- As with the prior Vincent Payment Solutions platform, prepaid cards secured through the new system will be issued instantly and will be reloadable.
- Payees can be created one at a time in the system or via a bulk upload process.
- The system provides options to set up specific payment amounts or open payment amounts to be manually entered by the payer.
- Payers will be given access to specific groups within the system, and visibility will be limited based on permissions.
- In certain limited circumstances, the system offers the ability for suppliers to set a mechanism to allow for anonymous payees.
To assist users with this change, the Procurement, Contacting and Payment Services (PCPS) team has developed training resources and FAQs, which are available on the PCPS website.
Prepaid cards are MasterCard branded, reloadable credit cards that may be used for a variety of business purposes, including:
- Researchers should use the cards for human subject payments.
- The cards may be used by WVU Athletics staff for student athlete meals per diems and incidentals.
- Faculty and staff may use the cards for prizes or rewards instead of providing gift cards.
- The cards also may be used to fulfill other business needs as determined by the PCPS team.
Payees can use the card as a standard credit card, ATM or bank withdrawal, POS cash back or transfer to existing bank accounts ($2 fee). Payees can withdraw cash without fees by:
- Using any MoneyPass ATM to avoid fees. These ATMs can be located by using moneypass.com.
- Visiting a bank that accepts MasterCard and obtaining cash through a walk-up bank teller.
- All retail point of sale or POS with a cash back option.
Guidelines for the prepaid card program and a card request form are available in Mountaineer Marketplace. Visit the PCPS website for more information. Contact the PCPS team at pcps@mail.wvu.edu or 304-293-5711 with any questions.