The fintech company specialises in the distribution of digital gift and prepaid cards for both local and global brands, such as Netflix, Spotify, and Xbox, and has acknowledged the new card as a milestone in the company’s goal of transforming itself from a branded payments firm into a global prepaid payments platform for financial services products.
The platform will be available in 180 countries, with consumers being able to shop in 17 different languages, and will host 75 brands, including AT&T, Apple, Google, and Sony Playstation. The platform launches as a one-stop shop, hosting multiple retail categories ranging from credit, gaming, entertainment, shopping, and prepaid money, amongst others. This move will enable consumers to have the opportunity of buying gift cards and branded payment cards across a wide range of categories.
The firm is also promoting the concept of Pay Now, Buy Later (PNBL), looking to reinvent the concept of prepaid cards to enable consumers to control their budgets and online security. PNBL enables upfront prepaid payments so that consumers can purchase a product or asset in the future, increasing the control people have over their money management, and giving more financial visibility by indicating exact monthly earnings and expenditures.
Company representatives have stated in their press release that the launch is aimed at offering consumers a broader range of products while also helping them protect their details online, and manage their household budgets and spending in times of uncertainty.
Initially a mobile top-up card company, Recharge.com is a one-stop shop for a multitude of branded payments categories including call credit, data bundles, shopping, entertainment, gaming, and prepaid money. Focused on developing both local and global products, the company offers customer service support in both English and the language of the countries they do business in.
It operates in more than 150 markets globally, with over 3 million users as of now, and more than USD 500 million of yearly payments. The digital platform’s selection includes digital vouchers and prepaid money from brands including CASHU, paysafecard, Apple, Google and PlayStation, alongside cross-border remittances of call and data credits.
Founded in 2010, the company raised over USD 70 million in primary, secondary and debt transactions from investors including Prime Ventures, SmartFin, Kreos Capital and Rabobank.
In March 2022, the company announced their expansion to Australia, following the rise of the Pay Now, Buy Later (PNBL) sector, driven by branded payments and gift cards.
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