Pakistani government to implement prepaid cards for electricity payments

Citizens of Pakistan will soon be paying for their electricity via prepaid card. A recent article discusses the implementation of payment for the utility through prepaid cards. By citizens paying for power through prepaid cards, the government won't be losing money due to electricity theft and individuals not paying their bills. It will save the government money in respect that they will no longer have to find individuals who are stealing electricity. Read the full article here.

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Which prepaid cards win with consumers?

In a recent article at The Storefront, they reveal the top 10 most frequently purchased prepaid cards by consumers. A survey conducted by Global Prepaid Exchanges shows that these are the most popular among consumers:

1. Bath & Body Works
2. Red Lobster
3. iTunes
4. Amazon
5. Nordstrom
6. T.G.I. Friday's
7. Lowe's
8. Walgreens
9. Olive Garden
10. Home Depot/Outback Steakhouse (a tie)

Read the full article here. Does the ranking surprise you? Are there any cards that were left off the list?

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What about the remaining balance on prepaid cards?

An article in the Silicon Valley Mercury News looks at what happens to the remaining balance on prepaid cards. According to the article, laws state that if a balance left on a card is less than $10, then the card holder can request cash. Do you think this is more beneficial to the card holder or the company? If a card holder knows that they can receive cash on remaining balances, will this encourage them to make more re-purchases on those prepaid cards?

Read the full article here.

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Do you think gift cards will triple by '14?

Hollie Goldman, Conference producer for Prepaid Expo, recently highlighted some key findings from the Javelin report on our Prepaid Professionals LinkedIn group. Here it is below.

The Javelin report discusses key trends and users of prepaid cards and the market forces influencing change in the prepaid space. Javelin forecasts that prepaid usage will more than double by 2014, while gift cards will more than triple — with the latter expected to attain $6 billion five years into the future.

Do you think this will cause gift card usage to change dramatically over the course of the next 5 years?

The article can be found here: http://atmmarketplace.com/article.php?id=11841

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Prepaid market falls then rebounds in 2009

The prepaid industry fell in 2009, but began to rebound by the end of the year. US consumer usage fell from 61% from 66% earlier in the year.

According to Mary Monahan, managing partner and research director of Javelin, "Lower costs and enhanced functionality are luring consumers back and boosting the volume and dollar value of cards they purchase."

Read the full article here.

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Starbucks Prepaid Cards go Mobile

According to Mashable, there are now 1,000 Starbucks stores across the nation located in Target that can sync up with the Starbucks Mobile Card App. The iPhone app can be used to both make purchases and add money to the card.

What does this mean for the prepaid industry? Do you see more companies coming out with apps that will allow one to manage prepaid cards on their SmartPhones? While it's only available at 1,000 Starbucks across the nation, I think many companies will take note and strive to make their prepaid cards available for use in more than one form.

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