Kaiku Finance, LLC, Launches KAIKU® Visa® Prepaid Card

| August 1, 2012 | 0 Comments

WESTLAKE VILLAGE, Calif.–(BUSINESS WIRE)–

Today, Kaiku Finance, LLC, officially launched the KAIKU Visa Prepaid
Card (“KAIKU Card”), a reloadable prepaid debit card with some of the
lowest fees in the industry. As the first product launched by the
company, the KAIKU Card empowers consumers to more effectively manage
their money with an unparalleled combination of affordability,
transparency, access, convenience and mobility.

Kaiku Finance is led by Jon Round, who serves as CEO. A seasoned veteran
in the prepaid industry, Round has more than 20 years of experience in
the mobile, prepaid and global payments sector, including launching the
first ever Visa prepaid card programs in Canada and the United Kingdom.

“Prepaid debit cards can be so much more than a last resort,” said Jon
Round, CEO of Kaiku Finance. “Our increasingly mobile, value conscious,
brand centric and cashless society demands new ways to manage their
money. The KAIKU Card is an affordable and smart lifestyle choice for
all types of consumers, with transparent and low fees, great features
and, convenient tools to enable anyone to manage his or her money
through his or her preferred channels. The KAIKU Card represents the
next generation of prepaid.”

The KAIKU Card offers consumers the following benefits:

  • Cardholder funds are FDIC insured
  • No activation fee
  • Monthly fee of $1.95
  • Ability to load funds by cash, from a credit card, from a bank
    account, by transfer from another KAIKU Card
  • Access to more than 43,000 surcharge-free ATMs globally through the
    Allpoint Network and valid wherever Visa is accepted
  • Free apps for iPhone, Android and Blackberry
  • Free 24/7 customer service
  • Free card-to-card, bank-to-card and Paypal-to-card transfers
  • No inactivity fee

In addition, Kaiku will also reward cardholders with “Kaiku Karma” each
time they refer a friend. Every time a referral activates and spends at
least $100 on their new KAIKU card, Kaiku will add $10 to the account of
the cardholder who referred that person. The prepaid market is
experiencing explosive growth, with Mercator Advisory Group estimating
that consumers will load roughly $160 billion onto prepaid cards in
2014, up from about $50 billion in 2011. A recent study
from The Aite Group found that many prepaid users earn more than $45,000
annually, have a college degree, a checking account and a credit card,
supporting that there is a demand for the KAIKU Card.

The KAIKU Card is also substantially more affordable than leading
prepaid providers. According to company estimates, KAIKU cardholders
will save an average of $65 – $225 annually compared to similar usage
with traditional reloadable prepaid debit cards offered by Green Dot,
NetSpend, RushCard and Wal-Mart, among others. Moreover, at a time when
the Consumer Finance Protection Bureau (CFPB) is calling for greater
transparency from the prepaid industry, Kaiku Finance enters the market
with a prepaid card that embodies the four
compass principles
set forth by the Center for Financial Services
Innovation (CFSI), a leading authority on financial services for
underbanked consumers.

Joel Sherwin, COO of Kaiku Finance, added, “As a brand committed to
empowering customers to maximize their financial future, Kaiku Finance
is excited to work with partners and institutions that are helping the
prepaid industry move forward.”

To learn more about the KAIKU Visa Prepaid Card visit: www.kaiku.com.

About Kaiku Finance, LLC

Kaiku Finance, LLC, is a provider of forward thinking prepaid products
and services, offering convenient, flexible and affordable alternatives
to traditional banking. The KAIKU Visa Prepaid Card is a next
generation, reloadable debit card that empowers cardholders to more
comfortably manage their finances by combining low fees with unsurpassed
access, convenience and mobility. Product information can be located at: www.kaiku.com.
For corporate information, please visit: www.kaikufinance.com.

Filed Under: Credit Card News

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