BlueOne Card announces the U.S. retail launch of its prepaid Mastercard
By Edlyn Cardoza
BlueOne Card, Inc. recently announced the planned February retail sales launch of their flagship product, the BlueOne Card in the United States. The BlueOne Card is a prepaid Mastercard issued by Axiom Bank, N.A., Member FDIC, under a license from Mastercard.
Until now, the BlueOne Card has been available exclusively online or through the BlueOne Card® App. The planned launch will begin the retail rollout of the BlueOne Card, using a developed money loading system to be launched initially in retail liquor stores. The rollout will begin in California and the West Coast and will expand to the Midwest and East Coast in 2023.
In addition to the benefits of a Prepaid Mastercard, every BlueOne Card offers the cardholder a virtual checking account with an account number and a routing number without the need for a social security number. Once registered, BlueOne Cardholders can transfer and receive funds, deposit paychecks, facilitate direct deposit, utilize bill pay services, access ATMs, reload their cards and much more. Over 30 million merchants accept the BlueOne Card and over 1 million ATMs worldwide, or wherever Mastercard is accepted.
With the BlueOne Card, cardholders can quickly transfer funds outside the United States. Money transfers in the form of remittance payments to foreign countries is a rapidly expanding industry. Census Bureau data gathered by the Pew Research Center concluded that roughly 45 million foreign-born individuals currently living in the United States, a large percentage of which regularly send money to their home countries. According to a May 2019 report, migrant workers who earn money in the United States send about $150 billion annually to their home countries.
James Koh, Chairman of BlueOne Card Inc., said, “We are very excited for our upcoming retail launch and for the chance to quickly expand our user-base. There are a growing number of people in the United States that are not able to utilize traditional banking, but with the BlueOne Card, they can enjoy all the banking services that have eluded them to this point. Our product is perfectly positioned to fill the growing need for financial services by a large sector of the population. More updates will be forthcoming.”
Recently, IBS Intelligence reported that Mastercard had expanded Mastercard Installments, its Buy Now, Pay Later (BNPL) program that delivers greater choice at checkout, both in-store and online, to consumers in the United Arab Emirates (UAE) and Saudi Arabia.
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December 08, 2023