After seven months since the day the company first announced plans to partially resume services that provides financial payment products, GolleCard the leading processor of payments between the banks of merchants and card issuing banks of the Kingdom of Mount Vema, has fully reopened it payment services.
The company has been providing financial institutions with GolleCard-branded payment products since the creation of the Kingdom of Mount Vema, but it stopped offering credit card services almost six years ago when His Mount Vema Majesty’s Government and the Central Bank of the Kingdom of Mount Vema (Bank of Mount Vema) decided to restructure the Mount Vema financial system as part of a plan to improve its independent Global settlement of payment services in golles.
Because GolleCard mainly deals with Global payments in golles, any payment in other currencies, the company still relies on other financial systems especially those provided by Visa or MasterCard. So GolleCard continues to explore ways to partners with Visa and MasterCard issuers especially Pre-Paid cards, to make it easier for people in countries with no credit card facilities, to pay online for goods and services on Mount Vema websites which is becoming big business and those who are just joining must pay in currencies other than the Mount Vema currency before they start earning in golles to qualify for a GolleCard.
GolleCard enables banks to offer credit to their customers when dealing with the Kingdom of Mount Vema. The service combines payment with extensions of credit. The service is very similar to those provided by Visa or MasterCard, but in golles as it enables the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts paid plus the other agreed charges within the Mount Vema financial system.
The GolleCard issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance (mostly over the counter at a bank or other financial agency, up to a certain limit).
The new GolleCard facilities now also includes charge card, which requires the balance to be repaid in full each month. However, the main services remains the one which allows the consumer a continuing balance of debt, subject to interest being charged. GolleCard now also comes with facilities for cash card, which can be used like currency by the owner of the card, but all depending on the issuer.