The PPRO Group, founded in 2006, has been issuing prepaid MasterCard and Visa credit cards since 2012. The rise of electronic and cashless payments has become increasingly apparent over the past few years. Studies show that, even in a cash-loving country like Germany, card sales have increased eightfold over the past 20 years.
Cash now accounts for just 53.3% of the total sales in German brick-and-mortar retailers. One reason for the increase in cashless payments may be the recent regulatory changes in interchange fees. These were heavily reduced at the end of last year, considerably decreasing the cost to retailers of accepting credit cards. The PPRO Group’s prepaid card program for companies comprises five different solutions: CrossCard Purchase, for example, enables companies to make corporate purchases and travel bookings using virtual credit cards.
CrossCard Expense is a company credit card for covering travel expenses, while CrossCard Payout is used for paying out commissions, salaries and other income. CrossCard Reward can be used to pay for tax-free benefits in kind and gifts for partners and employees, while CrossCard Assistance allows users to make local payments to insurance and car companies in emergency situations. All CrossCard MasterCard and Visa cards can be used all over the world, and funds can be instantly reloaded or withdrawn at any time.
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