Axiom’s White Label Program Fills Void in Access to Prepaid Cards in the EEA while Providing a Needed Virtual Banking Option During Pandemic

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When Axiom Prepaid Holdings' White Label program is more in demand than ever as COVID-19 prompts people to seek banking options that eliminate or limit in-person transactions and offer businesses a means of keeping their brand visible.

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“Little did any of us know that a pandemic would come along to heighten the need for new banking options in the EEA while giving companies a way to keep their brands in the public eye.”

When Axiom Prepaid Holdings entered the European Economic Area in 2019, it did so in response to loud demand for improved access to prepaid cards in general and White Label programs in particular. Today, its White Label program is more in demand than ever as COVID-19 prompts people to seek banking options that eliminate or limit in-person transactions and offer businesses a means of keeping their brand visible.

“Axiom set out to break the mold in the prepaid card arena, especially with our White Label Program. Before we entered the EEA market in earnest, we first talked to the locals in each area so we could fully understand their needs and offer them the right products,” explained Steven Foster, CEO, Axiom Prepaid Holdings. “From there, we developed a White Label Program that could be tailored to each client’s specific needs. Little did any of us know that a pandemic would come along to heighten the need for new banking options while giving companies a way to keep their brands in the public eye.”

Axiom Prepaid Holdings is a global provider of digitally-driven end-to-end payment solutions powered in large part by prepaid cards programs. Its White Label Program was introduced last year to help clients take advantage of the brand- and business-building opportunities of the fast-growing global prepaid cards market – something that has taken on great significance during the pandemic. The program has proven to be especially popular in Italy, Spain, Germany, France, Portugal and Greece.

Axiom builds each White Label programs according to the client’s specific needs and goals. Clients focused on revenue, can charge fees each time a card is used while others limit or eliminate fees and focus more on the visibility and brand reputation aspects of their program. And some clients’ white label program does both. At the heart of each program though is offering an alternative to money management for the unbanked and those who eschew traditional banking options.

With Axiom’s program, clients create their own branded prepaid card programs to pay commissions, reward loyalty, and distribute compensation to their own customers, agents and affiliates. The programs also offer a cost-effective alternative to traditional corporate payroll programs and investment advisory services. Equally important though, the programs build invaluable brand awareness, loyalty and engagement with customers and employees.

Axiom’s operations team handles administration and provides a secure infrastructure for processing, reporting tools and integration of cardholder services to businesses’ existing applications and websites. Standard features of the programs include card-to-card payments, ATM access, direct deposit load, generated statements, 24/7 help, fraud protection, virtual card access and SMS/email alerts.

Foster says white label cards also allow businesses to collect data, analytics and tracking for use in improving customer outreach efforts. Axiom creates and manages its clients’ program according to their specifications and is able to speed time to market while also ensuring that all compliance and regulatory requirements are met and maintained.

“Consumers want cashless, flexible banking options and that has never been more important than now. Our White Label Program allows clients to offer that to its employees, customers and the general public while keeping their name and logo front and center,” he added.
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About Axiom Prepaid Holdings:

Axiom Prepaid Holdings was started with one goal in mind: To make financial services easier – for everyone. Through the power of digitally-driven end-to-end payment solutions, the company provides prepaid card options for the unbanked and underserved; and white label programs to companies that want to showcase their brands while offering customers and employees alternatives to traditional money management. Today, Axiom has nine offices and conducts business in 20 countries. Every day, the Axiom team is hard at work providing turnkey solutions that help cardholders gain economic freedoms and help businesses achieve success. To learn more about Axiom Prepaid Holdings, please visit: http://www.axiompph.com.

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Erin Andrews
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