Payments provider hyperWALLET announced on Wednesday that Chicago-based Karrot has launched its branded prepaid card services program to allow users in the U.S. and Canada to cash in loyalty points for local currency on prepaid cards.
“We are pleased to partner with hyperWALLET to directly reward our channel incentive program participants,” Karrot co-founder and President Ernie Naylor said. “This partnership will allow us to foster increased loyalty as we seamlessly distribute rewards.”
Karrot provides online loyalty and reward solutions for wide range of companies. The prepaid cards can be used at ATMs, online and at cash registers.
“hyperWALLET is delighted to become Karrot’s payment partner in this rapidly growing market space,” hyperWALLET CCO Peter Burridge said. “Loyalty is built on trust, and being able to support Karrot by providing their payees with instant funds access makes their loyalty program solutions even more robust.”