PROP(TM), Parago’s Enterprise Prepaid Online Ordering Tool, Surpasses 500,000 Cards in 6 Months
LEWISVILLE, Texas, April 11, 2012 /PRNewswire/ — Parago, a leading provider of end-to-end engagement management programs for consumers, sales channels and employees, today announced that its proprietary prepaid reward ordering portal, PROP(TM), has achieved significant milestones in a mere six months since its launch. PROP has attracted dozens of new clients to Parago, and has distributed 500,000 Visa® prepaid cards totaling $20 million in issued or loaded funds.
PROP, an acronym for Parago Reward Ordering Portal, provides large organizations a central destination for ordering, loading, activating and customizing Visa® prepaid cards for incentives and rewards. The one-stop online destination is a customizable portal that makes the prepaid incentive procurement process simple for every business department and provides the much needed controls and ability to audit that corporations require. Whether it is a short run of cards used by Human Resources for employee recognition, or thousands of cards for a large-scale consumer incentive program, PROP enables all departments within an enterprise to procure prepaid incentives through a few quick clicks.
“PROP’s overwhelming popularity right out of the gates confirms that it is a useful solution to the many large companies that struggled with the reward and incentives purchasing and procurement process, which historically required coordination of multiple contracts with a number of approved vendors, various pricing schedules and internal brand and legal review,” said Juli Spottiswood, President & CEO of Parago. “PROP’s speedy growth is also an indication that prepaid cards continue to be attractive rewards vehicles, providing recipients with easy-to-use cards that can be spent anywhere the Visa brand is accepted.”
Research conducted by Parago is 2011 showed that prepaid cards are the incentive of choice for employees. When asked what type of holiday gift they would like to receive from employers, prepaid cards came out on top with 57%, over gift cards, company-branded merchandise or cash. An overwhelming 85% of survey respondents said they would feel grateful if they received a prepaid card as a reward. When asked about their favorite features of prepaid cards, the majority pointed to the fact that prepaid cards can be spent almost anywhere and at multiple retailers.
“Prepaid cards have long been a reward in our toolbox at Silverleaf, for both customers and employees,” said Anton Pomakov, Senior VP, Marketing, Silverleaf Resorts, Inc., a PROP client. “Now, with PROP from Parago, we are able to easily order cards from our custom catalog – across the organization – simply and hassle-free. The portal works for all of our applications – we can order one or many cards, reload and activate all in one site, any time of day. The flexibility PROP provides is great for our business.”
Parago pioneered the use of prepaid cards for promotional incentives, and the payments vehicles have now become a staple in the industry. Parago provides consumer incentive and customer acquisition rewards to one out of every two US households, for several Fortune 500 companies and for some of the largest brands in America, and delivers seven of the leading global channel management programs, servicing more than 220 countries.
For more information, a demo or pricing on PROP, contact the Parago Prepaid Team at 888.219.7533.
Parago is a leading provider of end-to-end engagement management programs for consumers, sales channels and employees, which deploy technology to drive better results. Parago provides services to many of the top companies around the globe. Parago has distinguished itself in the rewards-based incentives field for more than ten years by consistent reinvention of legacy approaches, introducing 27 industry firsts and receiving three patents. Parago issues more than $2 billion dollars in rewards every year, and offers the most all-inclusive approach to turn-key consumer, channel and employee management worldwide. For more information visit www.parago.com, the Parago blog or Twitter.