Prepaid cards, often (incorrectly) referred to as prepaid credit cards are relatively new in the UK. To date they have been marketed to people who typically cannot get credit or a credit card however I think prepaid cards would be great for businesses.
One idea I have is to get a prepaid card for everyone at i-KOS so that I can pay their bonus directly to a card in their name. In doing so I hope that whenever they use their card it reminds them that this is their reward. The alternative (default) method is to add it to their wages however I always find this simply gets swallowed up in bills and everyday life.
I took this idea to a couple of card issuers and was really pleased when I was told they could even offer second line embossing (to add our company name to the card). Over the coming weeks I will let you know the reality of applying for multiple cards.
For a great comparison website see www.which-prepaid-card.co.uk
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