Remote deposit capture is last year's big story. Now it seems like every bank offers customers the ability to use their smartphones to deposit checks into their bank accounts. But what if a consumer is unbanked with no account to deposit the check in? Visa Inc. and Chexar Networks Inc. have a remote deposit solution for that too. The companies announced the launch of a network platform to digitize traditional banking services for consumers that will let Visa prepaid users deposit paper checks to their reloadable Visa prepaid card using the camera on their mobile devices

The new remote deposit platform for prepaid cardholders is powered by Chexar’s technology and will provide Visa cardholders with immediate access to their funds on their Visa prepaid card. Starting later this year, new and existing prepaid cardholders with RushCard, AccountNow and Plastyc, as well as select FSV Payment Systems cardholders, will be able to enroll their Visa prepaid cards and begin making remote deposits, the companies said.

"We see this network utility as more than a technology, it’s an evolution in the way people deposit and move funds and our goal is to make that process frictionless and immediate for consumers," said Drew W. Edwards, Chexar founder and CEO.

"It’s no secret that reloadable prepaid cards are growing in popularity, and we are happy to provide consumers with a secure and convenient way to deposit funds and have immediate access to their money," Edwards added. "Our agreement with Visa represents an inflection point for the prepaid industry, and will only grow as mobile devices become more ubiquitous."

The platform will not only support check deposits to Visa cards, it will also facilitate funds transfers between Direct Deposit Accounts and payment cards, person-to-person payments and bill payment services whether in-person, online, on a mobile device or at an ATM, the companies said. Additionally, transactions originate and terminate with an FI partner and consumer funds sit within an FDIC-insured account, they said, meaning regardless of what channel or device, the prepaid account now moves seamlessly.

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