Bank Freedom sees Success with Prepaid MasterCard

In a recent article at AllPayNews, they shed light on the overwhelming success Bank Freedom saw with their launch of the Bank Freedom MasterCard. Expecting to deliver 10,000 to 20,000 in the card’s April release, they actually shipped 44,000 cards. The company has extensive knowledge in direct marketing, and used this to promote the card through radio, print, and internet marketing campaigns. It paid off.

The Vice President of Customer Service, Ryan Guenthart, had this to say about the card:

“Customers have told us they are switching to Bank Freedom for a variety of reasons. However, the majority of them are stating that our fee structure saves them money. Bank Freedom customers are American consumers who are in need of a low-cost alternative to check cashing centers, money orders and paying with cash, so every penny counts to them.”

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MasterCard for Mothers

In a recent article at All Pay News, they shed light on the first MasterCard pay as you go card available in the UK. Altair Financial Services International Plc (Altair) and Blueberry Card Services Ltd came together to launch this card to help new mothers manage their finances as well as save money on day to day expenditures that have to with children called the BeBee Card

With the cost of £14.95 a year, these mothers will have access to hundreds of discounts on items that are made for new babies, as well as discounts at grocery stores. Also following suit is the balance information that can be obtained by sending a text. This is an incredible example of companies finding the right target market, and using incentives that appeal especially to them.

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CardEx Moves; Plans to Expand in Next Year

In a recent article at AllPayNews, they reveal that CardEx has made the announcement that they are relocating to a 10,000 foot facility in Yorka Linda, California. This newer center aids their desire to double in size over the next year, in addition to providing a bigger call center and state of the art training facilities for its employees.

The CEO, Alan Safahi, believes that having the majority of his business in one space will allow for better opportunities to grow his business along with implement his strategies for the business more effectively. It also allows the company to have more control over the processes of ordering and fulfilling requests.

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Latin America and Europe Becoming Prepaid Card Markets

According to a recent report released by Mercator’s International Advisory Service, detailed here at AllPay News, Latin America and Europe are beginning to embrace the use of prepaid cards. Many of the uses of the prepaid cards in these two regions are gifting, transit ticketing, money transfers and general prepaid cards. Some unique uses of prepaid cards have been by government agencies and employers to supplying social benefits as well as payroll payments, either as per diem payments, and card-based vouchers.

Elisa Athonvarangkul, Analyst, International Advisory Service, cites some considerations as companies enter and expand in these markets, “Growth in Latin American and European prepaid markets can be attributed in part to increased consumer awareness of the benefits of this form of payment, in both the public and private sectors. Although prepaid cards may currently be less popular in some emerging markets than they are in developed markets, it is expected that stored-value products will continue to be used in a greater number of applications, and introduce new users to the concept of payment cards."

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