Dear Prepaid2Cash Community,
We are pleased to announce to you, our valued customers, the achievement of major milestones for our Company. Before we unveil this exciting news, we wanted to briefly share our story about why we started Prepaid2Cash.
My Co-founder, John and I were colleagues working in finance, specifically with clients in the growing financial and payment technology industries. It was during this time that we realized there was a major opportunity on the horizon.
You see, we used to be “those guys” that clipped UPC codes and filled out coupon forms to get rebates on our purchases. Those rebates used to come via physical checks so we could quickly get access to our cash. That is until, in recent years, these rewards began coming as Visa, Amex, and Discover prepaid cards. Now, getting access to cash was nearly impossible.
The main drawback with these prepaid gift cards was that you had to spend the money. They couldn’t be deposited into a bank account and saved up for important purchases. Neither could you use them to pay rent or take care of upcoming bills.
To make matters worse, we discovered these prepaid cards were laced with hidden monthly fees that would erode the balance. If they were not used quickly enough, the value could actually drop to zero.
The final straw was discovering that these prepaid cards were not always accepted online or at certain retailers. Our cash was being held hostage by little plastic cards. We knew there had to be a better way and it was time for us to do something about it.
Leveraging our financial background and experience, we dove into the research and discovered there were over $300 billion worth of prepaid cards issued each year. We also found that each year billions of dollars worth of these cards went completely unused. This was a massive opportunity, with thousands if not millions of disgruntled consumers like us who wanted cash from a prepaid card.
We seized the momentum by connecting with world-class technical talent to successfully launch the first online iteration of our product in January of 2016. The response was overwhelmingly positive.
Taking the next step, we raised a small amount of seed capital to extend our solution to the mobile marketplace and to spread the word about the benefits of turning gift cards into cash.
Which brings us to our exciting announcement. Prepaid2Cash is proud to announce that our app is now available on both the IOS and Android marketplaces. This mobile customer experience makes it quicker and easier than ever before to get that much-needed cash off your prepaid card. We will soon be offering new cash disbursement options as well as exciting new partnerships to expand the number of service offerings that will be made available to you.
John and I are truly humbled by the overwhelmingly positive feedback we have received from you, our valued customers. We sincerely hope you enjoy our new mobile application as much as we’ve enjoyed bringing it to you. Please continue to reach out with questions, comments, and feedback so that together we can take Prepaid2Cash to the next level.
Peter Vogt,
Co-Founder and CEO of Prepaid2Cash
By prepaid2cash