prepaid card issuers and managers

A revolution in financial services is being led by entities leveraging prepaid cards as bank account substitutes and remittance facilitators. The standards vary throughout the sectors, because of Canada's updated AML legislation (which applies only sometimes), based on the involvement of banks as issuers (or not), and because of the extensive network rules applied by Visa, Mastercard, Discover, UnionPay, Alipay and Wechat.

Our AML consultants have experience working with all network rules, and throughout the prepaid card value chain (card issuers, trust providers, program managers, program operators, processors, channels). We design technology-enabled compliance programs to comply with the legislation and network rules, and conduct thorough authoritative reviews of program manager compliance.