Vincento Payment Solutions today announced the launch of Cactus, an online eAccount and prepaid MasterCard.
Customers are in full control, able to view and manage all aspects of their eAccount via the Cactus website at www.cactuscard.com including fully itemised statements and a multitude of methods to load the account.
The Cactus Card is accepted anywhere that displays the MasterCard acceptance mark, and increasingly, Cactus will be available as a wallet payment at online stores.
"This is a great day for Cactus and marks a new era in banking." says Vincento CEO, Alpesh Patel. "Customers expect more in this difficult financial time. We operate a different model than the traditional banks, but we are open about our charges and our service. The structure that we have and our own FSA license means that we can respond to our customers."
Cactus will share wallet space alongside our customers existing bank and credit cards, meeting a need that cannot be served by those traditional products. Cactus provides the convenience of a MasterCard but encourages them to budget as you can only spend what is on the account.
Being separate from your bank account, Cactus minimises the impact if your card should be lost, stolen or cloned. Funds are fully protected on the eAccount from the moment it is reported lost or stolen. Cactus also offers protection against purchases made with the card by operating a chargeback scheme if consumers do not achieve a satisfactory result from the vendor.
"This is just the start for Cactus" says Product Manager, Suresh Vaghjiani. "We have some very exciting developments planned for later in the year and intend to raise the expectations of prepaid cards."