DCR Strategies, a Canadian provider of prepaid products under the brand name TruCash, has partnered with MasterCard to launch a prepaid reload service in Canada.
The new service will allows eligible cardholders to load funds onto prepaid cards at participating TruCash merchant locations.
The TruCash Reload Network, which will be officially launched on 21 June 2014, will accept card programs enrolled in MasterCard rePower.
The full program execution at thousands of merchant locations is expected to be completed later this year.
According to the companies, cardholders can 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.
In order to provide instant access of funds to the cardholders, the reloads will be securely processed through the MasterCard rePower Network in real time.
TruCash has teamed up with Home Trust and Carta Worldwide to offer acquiring services and processing services, respectively.
DCR Strategies/TruCash president Diana Fletcher, "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."
"We hope to hone in on this success by expanding our merchant network and adding new and exciting contactless payment possibilities for the future."