Zum Rails, an instant payments ecosystem and embedded finance provider, has introduced a new suite of Mastercard-powered prepaid card programmes in Canada.
The reloadable cards are designed to support businesses with expense management, faster wage access, customer rewards, real-time disbursements and more flexible spending options.
Miles Schwartz, Chief Executive Officer and Co-Founder of Zum Rails, said:
“At Zum Rails, we believe money should move at the speed of business, and we’re making it easier for businesses to embed smarter, faster payments into their operations. With our Mastercard powered prepaid card programmes, companies could now offer branded, reloadable prepaid cards that move money in near real time without the complexity of traditional infrastructure.”
The collaboration aims to give businesses the ability to introduce new product offerings, strengthen customer engagement and broaden brand visibility.
It is supported by Mastercard’s global network, which links consumers, businesses and banks through secure and widely accepted payments in more than 200 countries.
Through the programmes, companies can issue co-branded prepaid cards to employees for corporate expenses, enabling real-time disbursements and clearer separation of personal and business finances.
They may also provide faster wage access or instant contractor payments by loading funds directly onto cards.
For consumers, businesses can launch prepaid cards with additional benefits, including services intended to support credit building and greater financial flexibility.
Zum Rails manages the programmes in full, covering onboarding, compliance, transaction processing and customer support.
Businesses are also able to brand the prepaid cards under their own identity and reload them instantly via Zum Rails’ existing payment infrastructure.
Balinder Ahluwalia, Senior Vice President and Group Head of Market Development & Digital Partnerships at Mastercard Canada, said:
“Mastercard is proud to support Zum Rails in delivering modern, embedded payment solutions that meet the evolving needs of Canadian businesses. Together with Zum Rails, we’re helping companies unlock new ways to move money and serve their customers.”
Featured image credit: Zum Rails
