Tuesday, March 5, 2013

Prepaid Expo Day 2: Mid Day Recap

"Are GPR Cards a Destination or a Journey?" was an interactive panel with many industry heavyweights debating the trajectory of prepaid GPR cards. The panel was moderated by the CEO of Paybefore Marilyn Bochicchio and the panel was made up of: - Dan Henry, CEO, Netspend - Brett Adams, Lead, U.S. Prepaid Products, MasterCard Worldwide - Mark Putnam, SVP & Divisinal Manager of Prepaid Solutions, First Data - Adam Rust, Director of Research, Reinvestment Partners Incase you missed the session, here are some highlights: - There are 68 million people that are underbanked - for many, GPR cards are the only choice (18-23% of all people get turned down on traditional banking options) - Over the past few years, the total cost of ownership for prepaid cards has steadily decreased - Prepaid options that are totally transparent can lead to increase trust from the consumer - Mobile enabled features is key: it all comes down to combining the paper and the digital worlds - The appeal of prepaid is about having immediate access to your funds

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