Merchants and companies that are interested in offering pre-paid cards, such as gift cards, might want to consider using Praxell's solution. It's already in use in many stores in Israel, including Tower Records, Office Depot, and Blockbuster. Caisse d'Epargne, the fifth largest bank in France, is implementing Praxell for its 350 business customers. Each card is associated with a randomly generated 16-digit account number, like a credit card number.
Customers can spend the card value either in person or electronically.
If the card does not have enough value for the purchase, the system supports split payments with credit cards, merchant loyalty points, or alternative currencies such as Flooz. All payment processing takes place on Praxell's servers. The merchant never sees the payment information, receiving only an authorization code from Praxell once the payment is authorized. Merchants install an API on their own servers, which triggers the secure payment that appears when a customer indicates he wants to pay with his pre-paid card. Fees, Costs, Etc.