WaveCrest Adds Exclusive Payments Feature to the MyFare Visa® Prepaid Card Program

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WaveCrest Group announces new enhancements to the MyFare Visa Prepaid Card for taxi fleet and for-hire drivers to simplify management of all their fleet-related payments with one secure card account

taxi fleet,for-hire drivers,MyFare Visa Prepaid Card program,My fare card,corporate payments

Wavecrest Group

Fleet owners can streamline net payment calculations and process, and improve driver retention, while drivers save time by receiving funds from their fleet and making their payments to their fleet company without having to visit the fleet office.

WaveCrest Group, a global corporate payments provider, has enhanced the MyFare Visa Prepaid Card prepaid program (MyFare Card) to allow taxi fleet and for-hire drivers to manage all payment transactions with their fleet management company. In addition to the existing capability of receiving funds from their fleet company, with the new enhancement, the drivers will be able to make payments to their fleet company for expenses like car lease and insurance, directly from their MyFare Card account. The drivers can also use the card as a general-purpose payment card for their personal use.

Launched during the Taxicab, Limousine, and Paratransit Annual conference (TLPA), the MyFare Card product enhancement was developed to meet the evolving needs of the dynamic transportation industry. “For decades, drivers and fleet owners have dealt with the time-consuming and inefficient practice of making cash and check payments, and then manually managing and reconciling payments back to fleet partners and suppliers,” said Miles Paschini, WaveCrest Chief Revenue Officer.

This new feature is now available to all fleet owners directly and through select integrated cashiering partners including TaxiCharger, Cabconnect, Peak Performance and Total Transit.

Fleet owners can streamline net payment calculations and process, and improve driver retention, while drivers save time by receiving funds from their fleet and making their payments to their fleet company without having to visit the fleet office.

Benefits of the MyFare Card driver payout program for fleet owners include:

  • Increased driver retention by allowing drivers immediate access to their funds.
  • Cost savings as a result of reduced operational costs associated with paper and cash payments.
  • Fraud and theft protection with safe and secure driver payments.
  • Full-service account management with robust reporting and management tools available.
  • Easy-to-use mobile app and online portal allowing drivers, fleet managers and car owners to pay, receive and track payments.

To find out more about WaveCrest’s enhanced MyFare Card features, visit http://www.wavecrest.gi, email sales(at)wavecrest(dot)gi, or call +1 954.603.0079.

About WaveCrest:

WaveCrest Group provides award-winning payments solutions to corporations and governments worldwide, focusing on specialized aggregate payment markets and cross-border remittances. WaveCrest programs include business-to-business payouts, employee, student and taxpayer disbursements, mobile wallets, prepaid cards, lottery payments, pre-defined and custom offerings. WaveCrest Holdings Limited in Europe is a regulated e-money issuer and principal member of MasterCard and Visa EU, and an affiliate of WaveCrest Payments Services of the Americas, Inc., a FinCEN-registered prepaid access provider and an issuer of Discover Network prepaid cards.

MyFare Visa Prepaid Card is issued by MetaBank®, Member FDIC, pursuant to a license from Visa U.S.A Inc. Wave Crest Payment Services of the Americas, Inc. is a registered ISO of MetaBank.

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