Mobile : single most important game changer in prepaid over next 5 years?

Throughout the Prepaid Expo research, mobile payments have consistently been referenced as a hot area for growth for the market. At last week's fantastic Global Prepaid Exchange Retreat in Toronto, mobile continued to be referenced throughout presentations and touted for being the best opportunity for one to one relationship building.

While looking through my notes, I quoted a speaker as having said, "Mobile is the single most important game changer over the next five years."

However, given that so many businesses are struggling to determine what a mobile strategy would look like and what the components would be, can that really be true? The big questions of "what are the in-house requirements" and "what are the POS requirements" in addition to the million details in between (not to mention "what does this do for the bottom line") present major hurdles.

Have an idea of how to discuss this idea at Prepaid Expo?

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Where is the Money Going in Prepaid

From a Bank Systems and Technology article entitled "Is An IPO in Prepaid Cards a Green Light for Growth?"

A wide range of interested parties are contemplating the growth prospects for future growth in the prepaid card market. The unusual Green Dot (GDOT) IPO that is currently going to market is providing some existing shareholders with the opportunity to monetize a portion of their holdings. Green Dot will not receive any proceeds from the estimated $130 million IPO. Its shares will be available for purchase by new investors and the remaining shareholders will have a market for selling shares in the future, including the prospect of a market priced sale of Green Dot. Some key questions are worth exploring. What is driving the “prepaid card” market? What is the upside? Are prepaid cards destined to become an “every day” high usage card for the mass market?

Aren't those the questions of the day! Pretty much every interview during our research for the 2011 Prepaid Expo program comes back down to those ponderings. Of course the other big ones are "How do I keep these customers I worked so hard to get?" and "What regulation is going to knock our socks off next?"

If you have ideas on who you'd like to hear answer such questions, give us a shout!

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QR at the Prepaid Expo?

While planning for the 2011 Prepaid Expo, we're looking at ways to keep the event operations innovative and customer friendly. It was suggested that we have some sort of electronic, instantly update-able agenda onsite... like a QR code on a poster.

Among the many things we're looking into for the 2011 event is whether or not enough people have QR readers on their phones-- or would be willing to download a free QR reader-- to have such a code posted around the event. Attendees would scan/ take a picture of the code and automatically be directed to program updates, on the fly. Pretty cool and convenient.

The Prepaid Expo crowd is pretty tech savvy... but is this a little too ahead of the game?* Let us know your thoughts!

*Of course QR is as old hat as the microwave in Japan. It's time to get with the program!

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