1.3. Prepaid Payment Services Products Segmentations
1.3.1. Retail payment products
These include general purpose payment products, for example:
a) Payroll Cards (which can include remittance services where the consumer contracts directly for the services with issuer or his agent).
b) Student Cards.
c) Household Cards.
d) Youth Cards.
e) etc.
1.3.2. Government Entities payment products
Government Entities (which include all governmental institutions, ministries, and local juristic entities and the like) payment products are used by government entities to effect payments to recipients of state payment or to purchase products or services for such agencies. Also, to distribute compensation or benefits to employees and/or beneficiaries. Examples of Government Entities oriented cards are as follows:
a) Social Insurance accounts/payment products
b) Procurement accounts/payment products
Funds can only be loaded onto the prepaid account by a government entity itself.
1.3.3. Juristic Persons Payment products
Juristic Persons payment products are used by corporations (which include all appropriately licensed juristic institutions or entities and the like) to facilitate procurement; distribute compensation or benefits to employees, customers or beneficiaries.
Examples of Juristic Persons payment cards programmes are as follows:
a) Payroll cards
b) Employee benefits cards (Health care, transit, etc.)
c) Customers incentive cards
d) Procurement accounts/payment products