Thursday, March 12, 2009

Panel Discussion: Identifying Prepaid Opportunities and Challenges in C-Stores and Fuel Retail: A Special Session with CSP Information Group

Kay Segal, Vice President, CSP Information Group

Scott Burslem, Other Income Manager, Travelcenters of America
David Taylor, Category Director, Exxon Mobil Corporation
Mike Triantafellou, President & CEO, Handee Marts, Inc.
Mike Skinner, General Manager, Coinstar E-Payment Services
Frank Squilla, Senior Vice President of Sales, Incomm

Here are a couple of questions and answers from the panel discussion.

Q: What products have you seen do best in retail?
A: We have seen increased adoption of reloadable cards that have been particularly popular with unbanked consumer. Such consumers have used it as a great vehicle for cash back, purchasing groceries, and gas purchases. Consumers are increasingly looking for cards that they can pick up and use anywhere, not just one store. The result is that Visa and MasterCard branded cards have done extremely well.

Q: What are some different product offerings and integration that have been growing in the prepaid industry?
A: Music and online-gaming (Xbox, PS3, Wii) have shown a tremendous spike in the use of prepaid. The result has been a definite move into these industries as they offer the opportunity for an underserved market who regularly purchases incrementally within these environments.

Q: When you test a product, what is the lead time that you traditionally need to setup a skew?
A: Depending on the size of the company it can take anyway from 2 weeks to 2 months time frame.

Q: What are some of the pieces of the puzzle that make success when you bring out products to market?
A: The importance of coordinating technology resources cannot be understated. It has become essential to have the necessary lead time with technology teams to properly prepare every aspect of the launch.

Here is a short clip of the panel discussion:

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