News from APEX Europe: GPS Appoints Former Head of Issuing at Optimal Payments PLC

London - May 18th, 2015 - Leading global payments processor Global Processing Services (GPS) today announced that Suresh Vaghjiani will be joining their Senior Management team as Executive Vice President of Card Services. Suresh commented, "We have all witnessed the growth of GPS globally in recent years and it is certainly exciting to be part of the team tasked with continuing the expansion of our global footprint".

In his former role as Director of Issuing at Optimal Payments PLC, Suresh successfully established the Issuing and newly formed Card Services division. Previously, as a founding member of Kalixa Payments Group, in his role as Head of Kalixa Pay, Suresh launched the award winning Kalixa prepaid card across international markets. Suresh has a substantial understanding of electronic money, throughout its complete value chain from Issuing to Acquiring, with strategic knowledge on what works and does not work in various international markets.

As a member of the UK Contactless Advisory Committee, Suresh worked with TFL to pilot some of the first contactless prepaid products used on the London transport network. In 2011, Suresh launched the first ever contactless wristwatch in the UK. This is in addition to being responsible for launching the first App controlled NFC solution for i-phone in Europe. Suresh is an elected Advisory Board member for the Emerging Payments Association.

GPS was founded in 2007 by the owners of Flex-e-vouchers (FEV). FEV was one of the pioneers of prepaid Programme Management in Europe and continues to operate successfully today. FEV's founders identified weaknesses in prepaid processor capability and decided to launch a second business (GPS) that would provide the flexibility needed to service prepaid Programme Managers worldwide. GPS is a MasterCard, Visa Inc. and Visa Europe accredited processor. The platform was built in-house from the ground up and is tailored to prepaid card functionality, utilising the multi-year experience gained from operating one of the largest programme management companies in Europe.

Neil Weeks, Chief Commercial Officer at GPS commented, "Suresh is a well-known and respected industry expert. We are delighted to announce his appointment to our senior management team".

Tony Kerr, Chief Executive Officer at GPS added, "Suresh has a depth of product and industry knowledge that is amongst the finest in our sector. We believe that Suresh will strengthen our executive team, further underpinning our global rollout strategy".

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Coinzone Announces Bitcoin Wallet

Bitcoins have often been in the news for a number of reasons and many times in a negative light. Bitcoins were strongly related to the website Silk Road which was an online ‘deep web’ black market space that sold illegal drugs, firearms, assassinations and more.

However bitcoins have the potential to be a useful form of currency as we move into an age where many are predicting the decline in need for physical cash payments and a move toward contactless payment technology. Bitcoins are not tied to countries or regulations and are useful for international payments. They are easily transferable and can be kept anonymous which is why there has been doubts due to usage in illegal activity.

Coinzone, a Europe-based payment solution provider have recently announced that they will launch a new bitcoin wallet that will support currencies across Europe. The announcement signals the move toward embracing bitcoins as a more mainstream form of currency. Coinzone’s new wallet has been developed in order to address legal and privacy frameworks in operation across Europe.

Manuel Heilmann, who is the CEO and co-founder, told CNN “The Coinzone Wallet will be unique for a number of reasons, both at launch and also looking ahead to the future,”. The new wallet will be available for users wherever they have a web browser. This means that iOS and Android users will be able to manage and authorise bitcoin transactions whilst on the move. Heilmann goes on to say “For launch, our goal is to make it very easy to spend bitcoin. It’s a simple yet very crucial feature that is either missing or not easy to use in other wallets.”.

According to Heilmann the top five most active countries on the Coinzone platform are Germany, France,Spain, Romania and Italy. The initiative has also been launched now in the U.K. and the Czech Republic where growth is increasing. The wallet is available to very diverse range of countries with customer service initially aiming to support English 24/7, German, French, Spanish and Romanian and aim to respond around the clock. When it comes to bitcoins, customers cannot afford to wait until the next day when purchasing or selling.

Coinzone has a broad and comprehensive understanding of the European regulatory landscape. Users of the wallet will be under European privacy laws that means data is securely hosted in European data center locations. Heilmann believes the wallet will give users a hassle free experience that allows them to “transact with confidence” and to utilise “the local language, currency and payment instruments that are relevant to where they live.”.

This announcement signals the constant development in the payments world that seeks to create easier payment transactions for businesses and consumers alike. Creating secure and dependable systems for bitcoins can take the stigma away from the negative connotations that arose from Silk Road.

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Will Cashless Payments Cause Us to Spend More?

Contactless payment is widely regarded by many as the future of payments. Many believe that technology such as the Card Case app or Apple Pay will start to dominate the payments world as they are easy and fast forms of payments. In some cases you may not even need a wallet anymore.

Businesses are looking increasingly at giving customers the easiest possible experience in terms of their consumer journey. They want to make sure that at the end of the journey the customer doesn’t have to struggle to part with their hard earned money by waiting in long queues or wondering which credit card has the most on. Many believe it is in the best interests of the customer to be able to swipe something quickly and walk out with your new purchase. However, as easy and convenient as it is, could it mean increased spending for us on a day to day basis?

New research has shown that many people, especially the millennial generation, find that paying with cash is an easier way to not spend as much money. Personally, as someone who is fresh out of University, with student debts and an apartment in a foreign country, I am trying very hard to make every dollar count. This means taking out a certain amount of money in cash at the start of each week and saying to myself, I will spend this much and no more. It is a very simple budgeting technique used by many; however contactless payment threatens it. Waving a phone over a scanner or quickly swiping a card, to me and I’m sure to many others, does not really feel like you are parting with money as it does with cash.

More convenient payment systems will mean even if you have no cash, a consumer will simply spend little bits here and there, especially with credit. Obviously internet statements are a good way of keeping track every now and again but that will not stop when you want that desert at a restaurant instead of having a cash limit.

So much of the excitement surrounding the rise of contactless payments is focused on how much it is for the customer without looking so closely about the benefits for businesses. An interesting development for me would be a form of inbuilt budgeting system within the app or form of payment. As contactless payment develops, as does the internet of things, meaning more interconnection. This could mean a weekly budget for those millennials trying hard to make the pennies count that is on a payment app which is connected to a calendar which may warn of upcoming events that could stop you getting that pair of jeans that may not strictly be necessary. In a world where businesses need to increasingly think about the consumer’s experience, helping them with little things like that could ultimately mean the difference between gaining or losing a customer.

About the Author: Harry Kempe, a marketing intern at IIR USA, who works on various aspects of the industry including social media, marketing analysis and media. He is a recent graduate of Newcastle University who previously worked for EMAP Ltd. and WGSN as a marketing assistant on events such as the World Architecture Festival, World Retail Congress and Global Fashion Awards. He can be reached at hkempe@IIRUSA.com

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APEX Europe Announces Its Newest Retail Keynote

Announcing APEX Europe's Newest Keynote:

Ankur Gupta

Ankur Gupta, Director - Big Data, Sears Holdings Corporation

Retail organizations of all sizes have a wealth of untapped data.

Big Data Analytics have revolutionized the shopping experience and the way retail organizations engage their customers. At APEX Europe, you'll learn what big data technologies can reveal on customers and shopping behavior.

By applying these big data tools and techniques, retailers can turn this data into actionable insights for buying behavior and a Customer 360 view. Your customers expect a modern shopping experience...are you equipped with the tools needed to provide one?

Ankur Gupta is just the latest speaker in an all-star line-up of executive speakers, with prepaid, retail and technology speakers hailing from 25+ countries.

Register by this Friday, 20th March to hear Ankur's presentation and lock in the lowest possible price - tickets go up on 21st March - Save €300 now!

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Will new prepaid payments rules improve or hinder the development of the prepaid industry?

Prepaid cards are growing in popularity in today’s payments world with consumers becoming increasingly reliant on prepaid products in order to purchase goods and access funds. Director Richard Cordray of the Consumer Financial Protection Bureau (CFPB) predicted a total dollar value of general purpose reloadable cards to grow to around $100 billion by the end of 2014. The CFPB decided in 2014 that there needed to better rules in order to help to protect users in a way that is more similar to the security that comes from a credit or debit card.

Towards the end of 2014, the CFPB proposed new rules for prepaid accounts that will create amendments to the Electronic Fund Transfer Act and Truth in Lending Act. The rules fall under 4 main categories:

1. Credit Protections – relates to credit products in prepaid accounts. Now means monthly billing statements, allowance of time to pay debts, late fees and limitations on fee and interest charges.
2. Prepaid Protections – allow prepaid users to have the same protection as they would receive with a normal checking account. This includes easy access to account information and lost-card and fraud protection.
3. Prepaid/Credit Distinction – rules to be implemented in order to distinguish between credit products and prepaid accounts.
4. Prepaid Fee Disclosures – rules in order to standardise upfront disclosures and that card agreements must be publicly accessible. 

The rules will exclude cards that are marketed and labeled as gift cards or certificates. Also excluded are flexible spending accounts, medical savings account, health reimbursement arrangements and health savings accounts.

So are these rules going to be advantageous in the prepaid payments world? The general consensus is yes; much of the 870 page proposal is widely considered to be reasonable. The rule allows credit to be offered and will mean a decline in hostility from regulators in regard to the prepaid industry providing credit, so a measure of regulatory consistency has now been provided. Providers are now allowing check writing and bill paying to help persuade cardholders to use prepaid payments as their primary banking platform.

However the issue that has been raised by many in the industry is that the rules will stifle any future innovations into digital wallets, person-to-person payment systems and cryptocurrency products. The CFPB, some believe simply have too much power and so rulings like these tend to go unopposed. The Bureau has the power to break businesses due to its huge influence. The industry tends to accept new rules and regulations in the fear that if they say no there could be negative repercussions.

To me, looking in from the outside of the industry, it looks as if the rules will be advantageous to the ever-growing industry at present. Providing security and the ability to pay debts, limiting interest charges amongst other plus points will continue to increase the popularity of prepaid payments. However stifling the potential for development and innovation may in the long run mean a limit to longevity if another disruptive innovation within the payments world comes along.

About the Author: Harry Kempe, a marketing intern at IIR USA, who works on various aspects of the industry including social media, marketing analysis and media. He is a recent graduate of Newcastle University who previously worked for EMAP Ltd. and WGSN as a marketing assistant on events such as the World Architecture Festival, World Retail Congress and Global Fashion Awards. He can be reached at hkempe@IIRUSA.com. 

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Top 5 Reasons You Can't Miss APEX Europe

At APEX Europe, you'll join an international community and get in-person insights, valuable face time with peers and partners and access to consumer research and case studies you won't hear anywhere else. This is where 250+ payments, retail and technology executives are convening to build the next generation of inter-connected commerce.

With a focus on consumer experience and intra-industry collaborations, All Payments Expo Europe is the most relevant gathering of Europe's payments players, including retailers, programme managers, card networks, processors, issuers/acquirers, financial institutions, payments start-ups, technology and investors.

The Top 5 Reasons You Can't Miss APEX Europe:

1. The only European payment & financial services event where retail, mobile, data and technology intersect to grow connected commerce
2. Partner with 250+ movers and shakers in the prepaid, retail & technology industries
3. Sharpen Your Strategies with insights from industry leaders
4. Design your company's solutions to challenges in regulation, consumer awareness and interoperability
5. Uncover new ways for payments technology to acquire new customers, deepen loyalty, leverage data and improve the financial health of consumers

Download the programme.

Register with the code XU2940BLOG by 20 March & save €300!

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Retail Focus – Everything you need to know about Prepaid

The world of retail is continuously changing, with retailers having to be innovative and ahead of the competition to remain strong, with this in mind where does a gift card or prepaid scheme sit?. The prepaid market is both one that is lucrative, fast moving and diverse with the UK and Europe quickly catching up to our US counterparts with the UK alone having a total value of £4.74bn in 2012.  The Prepaid industry covers gifting in either a voucher form, gift cards or more recently in a digital / virtual format. The opportunities cover both B2B and B2C, with B2B becoming increasingly significant year on year.  Distribution channels within B2C are easily identifiable as in-store, online or through a third party.  B2B is more complex with various routes to market and segmentation including reward and recognition, incentive and motivation, government, charity, savings and insurance replacement.

Launching a gift card, e gift code or a voucher can be daunting; however, there are true benefits which retailers can reap from a prepaid product beyond the obvious income of a card or code.  Working to a financial model it is possible to explore the benefits to a retailer including instrumentality, breakage and cash flow providing profitability beyond just the cash value sale.  Join us next week at the Prepaid Expo Europe at 9am on 17th April where this will be explained in further detail and exploring the in’s and outs of the financial benefits to a retailer.


Brian Dunne:

President of the IMA in Europe, IMA ( Incentive Marketing Association ) is the not for profit trade association for the incentive industry, which is a role I am very proud and humbled to have.
I am also MD and equity partner at SVM Europe from which I have the honour of working with the very best in class.

SVM is the global leader in gift cards , the leading and largest supplier of gift cards to incentive companies and driver of incremental sales for many of the greatest retail brands on the planet.

Prior to that I was CEO at Action Solutions, the UK’s leading prepaid consultants. 25 years experience in retail and hospitality, including holding positions at some of the prepaid market leaders such as Whitbread Leisure Vouchers and The Post Office. Worked with some of the world’s largest retailers and hospitality brand providers, including Target Corporation, WHSmith and Boots, helping clients to set up new gift card programmes, analyse gift card performance, drive incremental trade through B2B and other channels and to develop new and innovative uses of prepay to achieve specific business objectives and goals.


IMA Europe:
IMA Europe, a Strategic Industry Group of the Incentive Marketing Association, was formed with the mission of stimulating and developing the benefits that incentive marketing offers to all kind of organizations in Europe. The IMA is a reference organization for the local incentive and motivation markets as a European mirror to the IMA US.

With the task of helping incentive and motivation marketing become widely accepted throughout Europe, IMA Europe is making an important effort to become a permanently updated information source, promoting its member’s interests and the best industry practices.

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A Message from Gift Card, Gift Voucher & Reloadable Card Summit Sponsor Ceridian SVS:

Leading Global Prepaid Innovator, Ceridian SVS UK, Ltd. (“SVS”), takes on key role in Europe’s largest Prepaid event

Following on from the reported success of last year’s event, SVS has substantiated its’ support for the UK and European retail gift card industry announcing their lead sponsorship status for the forthcoming GiftCard, Gift Voucher and Reloadable Card Summit.

With over forty years of prepaid experience between the two organizations, this partnership serves to continue to elevate and expand the prepaid market throughout the UK and Europe.  Together, SVS and the UKGCVA will work to encourage best practices, as well as promoting the use of vouchers and gift cards as a gift and incentive mechanic.

The Summit, which attracts over 300 recognisable retail brands, is hosted by the UK Gift Card and Voucher Association (UKGCVA) and is the largest and most important event of its kind for the Prepaid and Gift Card Sector in Europe. The 2012 event will be held at London’s Park Plaza Victoria, March 19-20.

Steve Bradbery, Customer Service Director for SVS, will also reprise his role as Chairman of the Summit. Steve, an elected member of the Executive Committee of the UKGCVA, has spent more than 20 years working closely with card issuers and retailers alike, helping them to maximize the potential of their prepaid programmes.  

Mr. Bradbery states: “The UKGCVA’s Gift Card, Gift Voucher and Reloadable Card Summit is undoubtedly one of the most important occasions in the global prepaid industry calendar.  It is a wonderful opportunity to network and share best practice in this fast-evolving industry. I feel enormously privileged to have been invited back to Chair the event again.”

About SVS

Ceridian SVS UK, Ltd. is the leading single-source provider of prepaid and stored value solutions, delivering a fully dedicated gift card and promotional platform. Nearly twenty years of experience has helped SVS evolve into the largest supplier of prepaid products to retailers in the UK and Europe.  Our full product suite features gift cards, promotional cards, and a robust loyalty platform.  SVS partners with clients around the world to offer solutions that effectively drive the behaviour that leads to business success.  SVS manages more than five hundred million card products and processes over one billion transactions in 40+ countries and 26 currencies worldwide every year.  To learn more visit: www.storedvalue.com   

SVS Media Contact:
Natalie Bruins, International Marketing Leader | Ceridian Stored Value Solutions
100 Longwater Avenue, GreenPark, Reading, RG2 6GP | m: +44 (0) 776 835 8273 | nbruins@storedvalue.com

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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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