Ongo Prepaid is a prepaid closed-loop program that merchants can run for their customers. The program is run with the help of magnetic stripe cards linked to Ongo POS terminals. The first step to run the program is to define the prepaid program. Post-program definition, the merchant can initiate card issuance to customers by collecting simple details from them. This step is known as card issuance where the 16 digits unique card number is linked with customer details. Once cards are issued, customers can top-up i.e. load the cards through the merchant. The loaded value can be withdrawn at once or through repeated transactions. Each transaction is supported with transaction SMS that informs the customer about top-up and withdrawal details and balance available on the card. The merchant receives transaction reports as per report frequency preference – daily/weekly/bi-monthly/monthly.

The prepaid program has created a niche across city tiers and diverse markets by encouraging the adoption of digital payments and thereby reaching out to mass consumers.