This drive is focused on targeting remittance customers who can tap into the convenience of going online to send money to loved ones via their LASCO GOLD Visa Prepaid card.
In 2021, LASCO Financial Services Limited (LFSL) made the monumental and historic move to partner with Visa, a trusted world leader in digital payment technology to revolutionize the local financial sector. It was a repositioning that connected and enabled individuals to easily acquire the convenience of a debit card. The LASCO GOLD Visa Prepaid card is more than just a card, it is a life changing experience!
Since June 2021, Jamaicans have been signing up for their LASCO GOLD Visa Prepaid card and enjoying the experience of convenience and safety when they conduct a myriad of cashless transactions without having a bank account, including receiving remittances directly to the card-anytime, anywhere. Jamaica’s first non-bank Visa card, the LASCO GOLD Visa Prepaid Card, has gone over well with the general public. Generally, the card has outperformed expectations.
According to Jacinth Hall Tracey, Managing Director of Lasco Financial Services, the Visa prepaid card has exceeded every expectation. “We are certainly pleased with the interest in the card and the overall number of subscriptions and we continue to see a surge in interest across the board. For remittance customers on the receiving end or sending end, it is safer, convenient and more affordable to transfer and receive funds within minutes and at any time of the day or night. It really simplifies the process of money transfer and their lives,” Hall-Tracey disclosed.
“Initially the card was targeted to the underbanked and unbanked but we have found that we are also getting many customers who hold accounts in the traditional banking system. In fact, due to the ease of applying for this particular card, we find that a lot of people are utilizing it for remittances and online purchases. We have noticed that many customers have been choosing to use this card for all their digital payments, particularly for subscriptions to online services” she added.
The card is now available in over 70 of LFSL’s agent locations island-wide, where customers can register and receive a card immediately with a valid ID and TRN. Customers can also use the LASCO GOLD Web app, create their profile and request a personalized card, which is convenient for both Android and Apple mobile users.
Customers no longer have to carry around excess amounts of cash or stand in line when they have a LASCO GOLD Visa Card. They have the options to top-up their cards with cash in agent locations or online using bank transfer to LFSL, who loads the card with funds after. It can be used at all point-of-sale terminals where Visa is accepted or online, giving customers even more access to electronic financial services such as, online shopping, bill payments, monthly subscription payments, and more.
Additionally, cardholders can receive remittances direct to their LASCO GOLD Visa card when their sender uses a Visa Direct partner or Jamaicans locally can sign up for LASCO Money Skip Di Line service for LFSL to load their funds to their card once they send a notification with the required information.
Registration for prepaid Cards typically requires less documentation and hassle in comparison to the registration process for credit cards and debit card accounts. “The LASCO GOLD Visa Prepaid Card can be obtained with similar documents used to collect remittances. In fact, an individual does not need a bank account for this prepaid card. Customers are loving the card because it is safe and convenient. They can receive money direct to the card from overseas anywhere at any time, without having to stand in a line at an agent location,” Ramon Davis, Payments Services Manager explained.
The LASCO GOLD app gives customers added convenience and security with various features, including PIN reset, personal profile update, transaction statement and card to card transfers to other LASCO GOLD Visa card holders. Where cardholders need cash, the card can be used at major ATMs, with the use of a PIN. For more details customers can visit www.lascogold.com.
LFSL received its license from Visa in 2021 to issue prepaid cards. Visa is a registered trademark of Visa International Service Association and used under license. LASCO GOLD Visa Prepaid card is being tested in Bank of Jamaica’s Fintech Regulatory Sandbox.
