4 ms·
Really, off of debit transactions? I thought interchange is only 0.05% + $0.21, which doesn't seem like enough to power rewards ever. These days I thought it's
by abalone 11y ago
Really, off of debit transactions? I thought interchange is only 0.05% + $0.21, which doesn't seem like enough to power rewards ever. These days I thought it's only credit cards that can support rewards (closer to 2% interchange).
- lm741 11y agoIt's issued under a Durbin exempt, commercial, prepaid BIN.
- abalone 11y agoInteresting! But wait a second... how does this work with prepaid cards? Do companies need to preload funds onto the cards before employees can spend them? E.g for an employee to spend up to $5,000 on a trip, would the company have to preload $5K onto the card? Or alternatively would employees have to get approval for each expense in advance of spending it?
- pbreit 11y agoI believe the company sets up a balance with Dash and all the debit cards tap that balance. So it's pre-funded but not per card.