As Employee Recognition and Reward continues to grow into a wider global proposition, being able to provide reward redemption options in as many countries as possible is critical.
Since introducing multi-country, points-based recognition, we have been growing our employee reward retail proposition to thirty countries (for the most up to date list, please check this article). More recently, we have also been looking at additional options which will help expand the global reach of employee reward redemption as widely as possible.
Enter Reward Pass, Reward Gateway's newest employee reward redemption option.
Reward Pass is a digital Mastercard prepaid card that allows employees to redeem any award they receive as a digital Mastercard. This then be used to make a purchase wherever Mastercard is accepted, online or directly in a store.
The employee reward redemption experience will remain instant for all employees (the exception to this is India, where only physical cards are allowed).
Because it is a digital product, Reward Pass can provide an employee reward redemption option in nearly every country across the world (the only countries that Reward Pass cannot work in are the very few countries which have financial sanctions against them).
What countries will Reward Pass be available in?
Reward Pass can be added as a redemption option to any country, unless there are sanctions against that country or there are strict rules about money being transferred in and out of the country (which very few countries have).
Reward Gateway's priority will be launching Reward Pass in countries where existing clients use monetary employee recognition (detailed in the list at the end of this article). The offering will be expanded to additional countries over time.
If you would like to explore offering Reward Pass to employees in a country that isn't yet listed, please speak with your Client Success Manager.
What about Reward Pass in the UK, US and Australia?
The UK, US and Australia can already count on a wide range of redemption options; therefore, there are no plans to introduce Reward Pass in these countries. Please speak with your Client Success Manager if you have any further questions about this.
How does Reward Pass work with different currencies?
Reward Pass is available in nine different home currencies, including:
- US Dollar
- Canadian Dollar
- British Pound
- Australian Dollar
- Japanese Yen
- Chinese Renminbi
- Indian Rupee
Each Reward Pass Prepaid Mastercard will be issued in the employee's local currency, where this matches one of Reward Pass's home currencies (e.g. employees based in Canada will receive their Reward Pass Prepaid Mastercard in Canadian Dollars).
If the local currency in the employee's country does not match one of Reward Pass's home currencies, the Reward Pass Prepaid Mastercard will be issued in the most relevant and common currency for that country. In most cases, this will be US Dollar or Euro (e.g. employees based in Argentina will receive their cards in US Dollars). Employees will be able to use their cards in their home country, for purchases in their local currency; however, in this cases there is a currency conversion fee that needs to be paid by the employee on each transaction (see the next FAQ for more details).
Are there any additional costs associated with Reward Pass?
There will be a one-off additional cost for clients to add Reward Pass to their program (as they would incur if they added any new product to their program). This cost is £5, Aus$10 or US$7.50 per applicable employee per year (to be paid for all eligible employees in the countries that Reward Pass is required for).
All transaction fees will be covered by Reward Gateway; no transaction fees will be transferred to the client or employee.
However, should there need to be a currency conversion (if the currency that a purchase is made in is different to the currency the card has been issued in), there will be a currency conversion fee of 1.45% of the transaction amount. This will be taken from the credit on the Reward Pass.
There are also:
- A card maintenance fee for any cards that keep a balance beyond their twelve month expiry period. There is no card maintenance fee for the twelve month expiry period of the card. After that point, maintenance fees continue to be charged until the card balance is $0.
- A one-time closure fee, charged if a check is issued to the user for any remaining balance, in the event they close their Reward Pass Prepaid Mastercard account.
- A one-time card-reissue fee, charged to users who request for their Reward Pass Prepaid Mastercard to be reissued.
Maintenance, closure and reissue fees per currency are detailed below.
|Monthly maintenance fee||One-time closure fee||One-time reissue fee|
USD: N/ACAD: 2.95
GBP: 2.95AUD: 2.95
When does a Reward Pass Prepaid Mastercard expire?
Employees who choose to spend all or part of their award balance through Reward Pass will receive a token to activate their card, which they will need to redeem before making any purchases. The token will expire after 3-months.
Once the token has been redeemed, each Reward Pass Prepaid Mastercard will expire 12 months from activation. Employees will not be able to redeem any balance once the card expires.
Please also note that the maintenance fees outlined in the previous FAQ will be charged from the expiry date onwards.
Refunds will be available up until the token has been redeemed or expired.
Can employees top up their Reward Pass Prepaid Mastercard after the first purchase?
Reward Pass Prepaid Mastercard is not reloadable.
Once they have spent the balance for their existing Reward Pass Prepaid Mastercard, employees will need to order a new one to continue using Reward Pass.
Can employees withdraw money as cash from the card?
Cash cannot be withdrawn with this card. It can only be used to make payments.
Is there a minimum amount that needs to be put onto a Reward Pass?
Yes, there are minimum amounts depending on the currency. Minimum amounts are:
- US Dollar - 5
- Canadian Dollar - 5
- Euro - 5
- British Pound - 5
- Australian Dollar - 5
- Japanese Yen - 100
- Chinese Renminbi - 40
- Indian Rupee - 100
Is there a maximum amount Reward Pass top ups cannot exceed?
Yes, there are maximum amounts depending on the currency. Maximum amounts are:
- US Dollar - 200
- Canadian Dollar - 200
- Euro - 200
- British Pound - 200
- Australian Dollar - 200
- Japanese Yen - 20000
- Chinese Renminbi - 5000
- Indian Rupee - 10000
Can my organization’s branding be added to Reward Pass?
Reward Pass Prepaid Mastercard does not support customized branding.
What countries is Reward Pass available in?
As of 5 May 2020, Reward Pass is available in the following countries:
- Argentina (home currency: USD)
- Austria (home currency: EUR)
- Bangladesh (home currency: USD)
- Belgium (home currency: EUR)
- Brazil (home currency: USD)
- Canada (home currency: CAD)
- China (home currency: CNY)
- Please note that Reward Pass is only available as a digital card in China.
- The product name for China is Reward Pass Prepaid UnionPay
- Croatia (home currency: EUR)
- Cyprus (home currency: EUR)
- Czech Republic (home currency: EUR)
- Finland (home currency: EUR)
- France (home currency: EUR)
- Germany (home currency: EUR)
- Guatemala (home currency: USD)
- Hong Kong (home currency: USD)
- India (home currency: INR)
- Please note: Reward Pass is only available as a physical card in India
- The product name for India is Reward Pass Prepaid VISA
- Ireland (home currency: EUR)
- Israel (home currency: USD)
- Italy (home currency: EUR)
- Japan (home currency: JPY)
- Kenya (home currency: USD)
- Luxembourg (home currency: EUR)
- Macao (home currency: USD)
- Malaysia (home currency: USD)
- Mexico (home currency: USD)
- Netherlands (home currency: EUR)
- Peru (home currency: USD)
- Philippines (home currency: USD)
- Portugal (home currency: EUR)
- Singapore (home currency: USD)
- South Africa (home currency: USD)
- United Arab Emirates (home currency: USD)
This list will be updated as Reward Pass is introduced in further countries.