How can you say no to the fastest-growing market segment in the U.S.? The prepaid credit card industry presents a timely and high-potential opportunity for businesses looking to grow with this market. But many providers, faced with low customer loyalty, demanding regulations, high service costs, and cutthroat competition, have to wonder: How can we say yes?
By driving down the cost of service delivery while improving customer relations, Genpact helps our clients say yes to opportunity—and this is a big one. The pre-paid credit card industry is projected to grow at over 20% per year for the next 5 years, with some provider programs growing at over 40% per year.In other words, opportunity is knocking.There are, however, some key challenges to opening that door, namely how to reduce the cost of servicing customers to allow for greater revenue generation. Genpact offers in-depth operations expertise and an infrastructure that can scale quickly, along with a best-in-class customer service operation that not only takes the administrative load off your team and frees your resources for other business operations, but enhances retention and higher revenue per card holder through
superior customer care and education.
The Key to Profitability
Vendors in this market have plenty of competition. Customers are fickle and retention is key, but simply growing the customer base without increasing service efficiencies does not improve the profit margin. The only way to maximize on the growth potential in the prepaid card industry is to drive down the total cost of operations while driving up customer loyalty.
Learn more: Download the Genpact Brochure Here
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