Thursday, March 12, 2009

Analyzing the Future Opportunities to Spur Profitable Growth in Prepaid

Gary L. Palmer, Chairman-Elect, NBCPA and EVP, Fidelity National Information Services

Brian Triplett, Global Head of Prepaid, Visa
Laura Kelly, Senior VP, Global Prepaid & Debit Product Solutions, MasterCard Worldwide
Steve Streit, Founder & CEO, Green Dot Corporation
Anil Aggarwal, Chairman and CEO, Txvia
Stefan Happ, VP & GM, North American Prepaid Cards, American Express
Todd Brockman, President, Galileo Payments
Grant Rogers, Senior VP, Meta Payment Systems
Farhan Ahmad, General Manager Prepaid & Director of Emerging Payments, Discover Networks

Here are some of the questions and answers from the panel discussion.

Q: How is the financial crisis affecting opportunities in the prepaid industry?
A: The payment business is alive and well even though we are going through an economic downturn. This is a huge time for prepaid to shine because consumers are looking for safety, budgeting, and more control of their use. Mobile has become an increasingly important utility to get people to use their prepaid cards more often.

Q: In what ways do you see growth being fueled in prepaid?
A: MasterCard is working on more reload networks across the globe. From an innovation perspective, MasterCard is working on combining different offerings from issuers to help bring about innovative products. Visa is working with their partnerships to help companies penetrate these new opportunities, to drive preference for branded products, and to help with performance drivers for business. American Express is dedicating their focus on execution making sure that everyone in the chain is working collaboratively to issue the best end product to consumers. Galileo believes that reporting and analytics for clients is a key driver that will be able to fuel prepaid in the future. Galileo also announced that this week they launched Galileo Analytics. This new offering will provide product managers the ability to develop actual business intelligence, not only with reporting on the transactional data but also information on cardholders in order to begin to move into portfolio management. Anil, CEO and Chairman of Txvia, believes that there are still opportunities in processing that has not yet been addressed yet. Some of these niche issues and markets are missed sometimes, but they are very important and we need to focus on profitable deployments.

Here’s some footage from the panel discussion:

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