System Overview
GTP Technology ReShapes the World of International Prepaid Processing
The GTP System is a Visa licensed, host-based, multi-currency, prepaid card processing system configured, serviced, and privately branded for businesses seeking ePayment solutions. The GTP System is a database-driven and rulesbased platform that provides cardholders access to Visa’s worldwide network of Automatic Teller Machines (ATMs), Point-of-Sale (POS) devices, and Internet-based merchants.
Unlike a typical debit card platform, which requires each card be linked to individual Demand Deposit Accounts (DDAs), the GTP System is designed to use a single aggregate account. This distinction provides a significant advantage because it allows GTP to process cards for any bank worldwide, with little to no interface development.
The Aggregate Account Approach Easily Facilitates Real-Time Card-to-Card Transfer Capabilities
Cardholders can securely access their account via the Internet or the phone using Interactive Voice Recognition (IVR) and instantly transfer funds to other cardholders. Since the money never actually leaves the aggregate account (see Figure 2), the funds are immediately available to the destination cardholders, wherever in the world they might be. The card-to-card feature can be put to great use by businesses or their customers with the need to transfer funds in an expeditious and cost efficient manner. Examples of card-to-card usage are payroll disbursement, commission payments, loan fulfillment, check-cashing, travel/gift card loading, person-to-person money transfers, closed-loop business-to-business payments, etc. The system’s money transfer capability can be further extended through the use of GTP’s currency switch, which can be easily interfaced to other third-party processors and banks, thus allowing remittances to recipients that do not have a GTP account. The GTP switch can handle multiple currencies around the globe.
Figure 2: Card-to-Card Transfer
Another key attribute of the GTP System is its flexibility. The system is specifically designed to be easily customized for the unique business needs of each potential client. Both cardholder and business-related websites can be readily personalized for branding purposes, while back-office
applications—such as payroll, bill pay, and other third party applications—can be simply interfaced to the GTP system using existing Web Service calls.
In addition, card-related benefits, functions, fees, velocity limits and reporting can all be tailored at a program or individual card level. Optional benefits can include a variety of insurances, such a Purchase Protection, Identity Theft, Travel, and ATM Robbery. Customers may also take advantage of GTP’s proprietary Global One Mall for Internet discounts and rebates.
