Mychoice Corporate -DIGITAL - Booklet - 13-Jan-18 New · MyChoice Corporate Overview MyChoice Corporate allows businesses to streamline commission, business, incentive, and travel

mychoicecorporate.com

Digital Payments

MyChoice Corporate

Overview

MyChoice Corporate allows businesses to streamline

commission, business, incentive, and travel payments and

control expenditures with enhanced convenience,

flexibility, and security. Businesses can easily make

payments across the globe in multiple currencies without

the need for cardholder bank accounts or credit checks.

MyChoice is simple to set up and manage, and it offers a

hassle-free payment solution for employees, agents,

affiliates and suppliers

þ Available in three currencies – USD, GBP, EUR

þ Option to select Standard, Co-branded or White label

þ Easy and fast online account approval*

þ No requirement of credit checks or bank accounts

þ Easily issue prepaid cards to your employees,

agents, suppliers etc. – add money to their cards for

any pay-outs

*subject to successful business and personal verification

process

Features

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Simple predefined programs – standard offering or

customisable programs

Reloadable prepaid card accounts for easy payout

Plastic and Virtual Card account

Chip and PIN card security

5 Easy API connectivity

6Complete compliance solution for

KYC and AML controls

Business Partner Virtual IBAN

Your MyChoice Corporate account also features a Virtual

IBAN that gives you the ability to send or receive money from

your pre-funding account, to both domestic and international

banks, while saving on foreign exchange fees.

Send and Receive Bank Transfers Worldwide

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Send money from and receive money into your

Prefunding account in 24 currencies

Through SEPA payments, Faster Payments and

CHAPS in Europe

SEPA payments received before the daily cut off

time are credited to your account the same day

Worldwide payments via SWIFT

Cardholder IBAN

Top up your card from your bank accounts

worldwide

Give the IBAN to your employer to get your

salary or commissions paid onto your card

Receive payments from individual or

business customers

Receive money from friends & family

Examples of how you can use your IBAN

Your MyChoice Corporate cardholder account can

also feature a Virtual IBAN, giving you the ability to

receive bank transfers on your MyChoice card, from

individuals or businesses worldwide.

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Corporate Expense Card

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Limit your risk - no employee abuse of credit limit on

credit card

Access to reporting platform where individual spend

can be tracked

Control your costs - restrict spend to chosen MCC

(Merchant Category Code) i.e., Airlines, Hotels etc.

Pull back funds if not spent

5 Loading funds onto cards is free & real time

6No KYC needed - Automatic top up of

employees’ card

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Features

Corporate Expense Card

Business Services

Cash Access Services (ATM)

Eating Places and Restaurants

Educational Services

Entertainment

Fuel

Government Services

Healthcare

High Risk Services

Hotels

Religion and Politics

Travel and Transportation

Card Usage Controls

Licensed And Regulated

Award Winning Platform

Cost Efficiencies

Full Admin Control

Business Benefits

Instant Intra System Transfers

Prepaid Debit Cards

Cardholder Benefits

Mastercard Prepaid Debit Card Issued

Funds Available Immediately

ATM/Cash Access

Cost Effective

Available in GBP, EUR & USD

Sectors

Payment Card

Transfer funds to any

MyChoice Card

anywhere in the world

securely within minutes.

The end-to-end process

is seamless and

extremely cost effective

compared to

conventional banking

processes, helping to

reduce operating

expenses.

Corporate Card

Limit expense exposure

- issuing a MyChoice

Card will ensure that

expenses can’t be any

more than the funds

allocated to the debit

card, putting businesses

in charge of costs.

Reporting is easy, quick

and in real-time.

Incentive Card

MyChoice is the perfect

payment vehicle for

promotions and

incentives. It can be

used as a gift card, a

travel voucher or even

linked to an affiliate

program. You control

the amount and nature

of the incentive.

Insurance

MyChoice Professional is

our MyChoice solution for

the insurance market. It is

an innovative payment

solution for commissions

for insurance companies,

brokers and fund

managers. It provides a

cost-effective alternative

to costly and time

consuming bank

transfers.

Sectors

Gaming Payouts

Our MyChoice Card is

the most efficient and

secure way for players

to get quick access to

their winnings. Players

can receive funds

instantly and cost

effectively, eliminating

the need for bank

transfers and cheques.

Currency Exchanges

Brokers and agents can

eliminate sending

cheques and bank

transfers to clients by

offering real time

payouts on MyChoice

Cards. Payouts can be

automated and easily

reconciled by using

MyChoice Cards.

Remittances

Our MyChoice Card

enables domestic and

international

remittances. Money is

available to the receiver

instantly. The receiver

can then spend the

money at POS terminals

or withdraw cash from

ATMs, eliminating the

need for bank transfers

or cheques.

Lending Payouts

Pay borrowers and

lenders instantly with

MyChoice Cards.

Cardholders can spend

money at any POS

terminals or withdraw

cash at ATMs. Easily

move money between

borrowers and lenders.

How MyChoice Corporate Works

You enrol for a card

program and maintain a

prefunding balance with

WaveCrest

You enrol cardholders Standard KYC and AML

applies

You instruct WaveCrest to

credit the funds to the

cardholders accounts

WaveCrest debits the funds

from your prefunding

account and credits the

funds to the cardholders

accounts

Cardholders can use these

funds at any ATM or POS

terminals using the card

External

Bank Account

MyChoice

Business Account (A)

MyChoice Individual

Cardholder Account (A)

GET CASH WITH CARD

at ATMs

SPEND WITH CARD

in store or online

MyChoice

Business Account (B)

MyChoice Individual

Cardholder Account (B)

Corporate Payments

Bank Transfer

MyChoice Instant Transfer

External

Bank Account

How to use the MyChoice Account and Card

Variants

White LabelStandard

StandardCard Design Branded

Cardholder Website Standard Branded

Mobile App

Number of Cards

Physical & Virtual Card

Multi-currency

Minimum 1000 cards

Yes

USD, GBP & EUR USD, GBP & EUR*

Any number of cards

Yes

Setup Cost

API Integration

Free

Optional Upgrade

Yes

Included

**Co-branded Card

Revenue Share Optional Upgrade Yes

Included

Standard Branded

Cardholder Fees & Rules Standard Custom

Optional Upgrade

* Additional currencies available on request.

** Minimum order of 500 card stock.

White Label Multi-tenant program includes the enrollment for additional Business Partners in Client program.

Mobile App & Website

API List

Business Partner:

Create Business Partner

Get Business Partner Details

Business Partner Balance Enquiry

Update Business Partner

Get Transaction Accounts

Get Transaction History

Account to Account Transfer

Cardholder:

Create Card

Get Card Details

Card Load

Get Transaction History

Balance Enquiry

Update User KYC

Activate Card

Get Status

Replace Card

Status Change

CardHolder Update

Card To Card Transfer

Client List

and more...

WaveCrest

WaveCrest is an award winning payment solutions provider.We focus on delivering cost effective, feature rich programs to a

wide variety of industries and geographies.

Our payments solution allows businesses to streamline their

corporate expenses, commission, incentive and travel

payments, and control expenditure with enhanced convenience,

flexibility, and security. Whether you are looking for a turnkey

solution to get started right away or require a totally custom

solution, WaveCrest’s MyChoice platform is your solution.

®Card programs are issued by WaveCrest Holdings Limited ® ® (Europe), MetaBank (USA) and Home Trust (Canada) under

®licenses from Mastercard .

Company Credentials

Ÿ A registered company in Gibraltar(Reg. No : 101302)

Ÿ Licensed E-Money issuer regulated by the Gibraltar

Financial Services Commission (License no

FSC0056NK)

®Ÿ Principal member of Mastercard in Europe.

Ÿ Discover - Non FI issuer in USA

Ÿ Registered Provider of Prepaid Access with FinCen

Ÿ PCI DSS level 1 Certified

Ÿ SSAE16 SOC Type 1 Audited

WaveCrest

Award Winning Enterprise

Gibraltar

World Trade Center, Suite 516,

6 Bayside Road,

Gibraltar GX11 1AA

India

Plot No.39, Tower A, 3rd Floor,

Ananth Info Park, HITEC City Phase-II,

Madhapur, Hyderabad - 500081

United States

12520 West Atlantic Blvd,

Coral Springs,

Florida 33071

WaveCrest Holdings Limited

[email protected]

www.wavecrest.gi

WaveCrest Holdings Limited is a registered company in Gibraltar, company registration number 101302. Authorised and regulated as an e-money issuer

by the Gibraltar Financial Services Commission under license number FSC0056BNK. Wave Crest Holdings Limited is licensed as a principal member with

Mastercard®. Mastercard is a registered trademark of Mastercard International Incorporated.

[email protected]

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