Prepaid2Cash
Prepaid2Cash is a US-based FinTech that operates a mobile app letting consumers convert Visa, MasterCard, Amex, and Discover prepaid and gift card balances into cash deposited directly into their bank accounts, typically within 15 minutes.
- Company typePrivate
- Founded2020
- HeadquartersBirmingham, United States
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What Prepaid2Cash does
Prepaid2Cash Holdings, Inc. operates a mobile-first financial technology platform that enables US consumers to convert open-loop prepaid card balances — branded by Visa, MasterCard, American Express, and Discover — into cash deposited into their bank accounts or onto eligible debit cards, typically within 15 minutes. The Birmingham, Alabama–headquartered company distributes exclusively through the iOS App Store and Google Play, with a self-serve scan-transfer-receive workflow that targets individual consumers holding unused, unwanted, or soon-to-expire gift and prepaid cards. The company accepts cards from more than 100 brands and operates with a small headcount (1–10 employees) and a Seattle mailing address for legal/contact purposes.
The platform is assembled from third-party technology providers rather than proprietary core IP: card capture is handled via Microblink's BlinkID OCR and computer vision SDK, bank linking via Plaid Technologies, and banking services are delivered through a sponsor-bank relationship with Global Innovations Bank, with Prepaid2Cash acting as the bank's agent. Monetization is transaction-based, with processing fees per prepaid card conversion (exact rates not publicly disclosed), a $20 minimum transaction, a $1,000 daily cap, and a $1.50 resend delivery fee; a Refer a Friend program provides mutual 30% fee discounts. The company holds PCI SAQ D compliance and BBB accreditation.
Prepaid2Cash has raised a $5.1 million Series A round in July 2021 led by Benson Capital Partners and Relevance Ventures (with Murano Group), following earlier 2019 seed activity from Alabama Futures Fund, Hard Yaka, and Redhawk VC. The company remains privately held with no subsequent funding rounds disclosed and continues to operate actively as of 2025.
Prepaid2Cash firmographics
Firmographics- Name
- Prepaid2Cash
- Legal name
- Prepaid2Cash Holdings, Inc.
- Website
- https://prepaid2cash.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Prepaid2Cash is a US-based FinTech that operates a mobile app letting consumers convert Visa, MasterCard, Amex, and Discover prepaid and gift card balances into cash deposited directly into their bank accounts, typically within 15 minutes.
- Ownership category
- akta.pro rank
Prepaid2Cash industry classification
Industry- Product category
- Prepaid Card & Gift Card Redemption
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Open-Loop Prepaid Cards (Network-Branded) (FSAMANAA)
- akta.pro secondary industry
- Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK)
Keywords
Where Prepaid2Cash is headquartered
LocationHeadquarters
- HQ city
- Birmingham
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Prepaid2Cash business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure, Others
Revenue model
- Transaction Fees: Prepaid2Cash charges processing fees for each prepaid card transaction. Users pay a fee (percentage or flat rate) to convert their card balance to cash. Additional $1.50 delivery fee for resending payments. Minimum transaction $20, maximum $1000/day.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Transaction Processing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Prepaid2Cash product offering
Product offeringCore offering
Prepaid2Cash operates a mobile application that lets U.S. consumers scan open-loop prepaid and gift cards (Visa, MasterCard, American Express, Discover) using their smartphone camera and transfer the balance as cash directly into their bank account or eligible debit card, with funds available in as little as 15 minutes. The service charges a per-transaction processing fee (with a $20 minimum and $1,000 daily maximum) and is delivered as an agent of sponsor bank Global Innovations Bank.
Product overview
Prepaid2Cash is a financial technology company offering a single unified mobile application for converting prepaid cards and gift cards into cash. The core product is the Prepaid2Cash mobile app (available on iOS and Android), which uses a simple 1-2-3 workflow: scan prepaid card, transfer to bank account, receive money in as little as 15 minutes. The company supports open-loop cards from Visa, MasterCard, American Express, and Discover networks. An optional Refer a Friend Program allows users to earn fee discounts by referring new customers. Banking services are provided through partner Global Innovations Bank, with processing powered by technology partners Plaid (financial data), BlinkID (card scanning), and Cardpool (gift card redemptions).
Differentiator
Problem solved
Functional benefit
Products and services
- Prepaid2Cash Mobile Application Mobile app (iOS and Android) that lets U.S. consumers scan open-loop prepaid and gift cards and convert their balance into cash deposited to their bank account or eligible debit card, typically within 15 minutes. Operated as an agent of sponsor bank Global Innovations Bank, with PCI DSS SAQ D compliant processing.
- Refer a Friend Program Ambassador/referral program enabling existing Prepaid2Cash users to share a personalized code, earning both themselves and the referred customer a 30% discount on processing fees on applicable transactions.
Quantifiable outcome
- Funds received in as little as 15 minutes
- +2 more outcomes
Companies that use Prepaid2Cash
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Prepaid2Cash technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability3 records
Feature3 records
Prepaid2Cash partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Plaid Technologies, Inc.corePlaid is used to gather user financial information from financial institutions, enabling secure bank account linking for direct deposit of prepaid card balances.
- BlinkID (Microblink Ltd.)coreProvides OCR card scanning technology integrated into the mobile app, enabling users to scan prepaid cards using their smartphone camera.
Scale indicators3 records
Recent moves6 records
Expansion highlights3 records
Prepaid2Cash competitors and assessment
Company assessmentDirect peers
- Raise: Raise is a leading online marketplace for buying, selling, and exchanging gift cards at a discount. It is the most direct competitor to Prepaid2Cash in the prepaid/gift card liquidity space, offering a web-based exchange versus Prepaid2Cash's mobile cash-out model.
- CardCash: CardCash is a gift card exchange that buys and sells unwanted gift cards for cash or other gift cards. Comparable to Prepaid2Cash because both solve the same consumer problem of converting unused card balances into usable funds, though CardCash focuses on discounted resale rather than full-balance cash-out.
- GiftCard Granny: GiftCard Granny is an aggregator that compares gift card buyback offers from multiple exchanges. It competes with Prepaid2Cash for the same intent of converting unused gift cards into cash and serves as an alternative acquisition channel.
- Cardpool: Cardpool operates a gift card buyback and exchange marketplace and is also a current integration partner of Prepaid2Cash for branded retail gift card offers. It is a direct functional peer in gift card liquidation.
Broad incumbents
- PayPal: PayPal is a broad incumbent in digital payments and money movement with a prepaid Mastercard product and the ability to fund balances from prepaid cards. It is relevant as a potential competitor and as a distribution/partner for prepaid-to-bank conversion flows.
- Venmo: Venmo (owned by PayPal) is a consumer peer-to-peer payments app. While it does not focus on prepaid card redemption, it competes for the same consumer wallet and instant-transfer use cases that Prepaid2Cash serves.
- Green Dot Corporation: Green Dot is one of the largest US prepaid card issuers and program managers, partnering with major banks and retailers. It is a broad incumbent in the same open-loop prepaid ecosystem in which Prepaid2Cash operates as a redemption agent.
- MoneyGram: MoneyGram is a global money transfer and payments company with US prepaid card products and reload services. It is a broad incumbent in money movement with overlapping infrastructure for prepaid card cash-in/cash-out transactions.
- NetSpend: NetSpend is a prepaid debit card issuer serving underbanked US consumers. While it sits on the issuance side, it operates in the same open-loop prepaid ecosystem and competes for the same end consumer wallet that Prepaid2Cash serves.
- Western Union: Western Union is a global money transfer and payments network with US prepaid card and money order services. It is a broad incumbent in consumer money movement that could expand into prepaid redemption flows that Prepaid2Cash currently serves.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat2 records
Key risks7 records
Key highlights7 records
Customer concentration
Prepaid2Cash social profiles
Digital presencePrepaid2Cash compliance and trust
Trust signalCompliance4 records
Prepaid2Cash financial estimates
Financial estimateRevenue estimate
Valuation estimate
Prepaid2Cash leadership team
Management profileNumber of profiles
Profiles2 records
Prepaid2Cash funding detail
Funding detailFunding overview
Funding rounds3 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Prepaid2Cash M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Prepaid2Cash
What does Prepaid2Cash do?
Prepaid2Cash operates a mobile application that lets U.S. consumers scan open-loop prepaid and gift cards (Visa, MasterCard, American Express, Discover) using their smartphone camera and transfer the balance as cash directly into their bank account or eligible debit card, with funds available in as little as 15 minutes. The service charges a per-transaction processing fee (with a $20 minimum and $1,000 daily maximum) and is delivered as an agent of sponsor bank Global Innovations Bank.
Is Prepaid2Cash a public or private company?
Prepaid2Cash is a private company. It is classified as venture growth investor backed and is currently operating.
When was Prepaid2Cash founded?
Prepaid2Cash was founded in 2020. It employs 1 to 10 people.
Where is Prepaid2Cash based?
Prepaid2Cash is headquartered in Birmingham, United States, in the North America region.
How does Prepaid2Cash make money?
One revenue line is on record: transaction Fees.
Who are Prepaid2Cash's main competitors?
Direct peers on record are Raise, CardCash, GiftCard Granny and Cardpool. Broad incumbents are PayPal, Venmo, Green Dot Corporation, MoneyGram, NetSpend and Western Union.
Does Prepaid2Cash have an API?
No public API is recorded for Prepaid2Cash.
What industry is Prepaid2Cash in?
Prepaid2Cash's product category is Prepaid Card & Gift Card Redemption. Its primary akta.pro industry code is FSAMANAA, Open-Loop Prepaid Cards (Network-Branded), with a secondary code of FSAMANAK, Prepaid Card Program Managers & Issuers (BIN Sponsors). Its NAICS code is 52232 and its SIC code is 6159.