Operate Your Own Closed Loop Network
- Fully transactional, NETWORK BRANDED virtual payment account (www.kineto.co).
- Integration is quick and simple, thanks to a secure private cloud-based model.
- Give your customers a low cost, to no cost banking alternative.
- Deliver virtual banking services through multiple online electronic channels.
- Cost savings due to no interchanges fees associated with national bankcard systems.
What is a Closed Loop Network?
Closed loop is a payments industry term for a payment transaction that can be used only in a single store or group of stores. Closed loop cards rarely have purchase fees, dormancy fees or other fees associated with the general purpose networks or open loop prepaid cards.
Closed Loop Networking incorporates a full range of banking services, accessible through a wide range of online channels including:
- Mobile phones and tablets (Android, IOS, Microsoft)
- POS devices
- World Wide Web
These accounts can be used to transact and perform banking functions similar to legacy bank checking accounts.