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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Is the U.S. Finally Getting Smart About Payment Technology?

Below you will find an infographic from ComputerScienceDegreeHub.com that maps out the evolution of credit cards - from the highly unsecure magnetic stripe cards that are still used by most Americans today, to the EMV smart cards that are more secure and have been successfully implemented in other markets around the globe. When will the US make the switch? Is the cost of the conversion too high? - If so, where do we go from here?

Source: ComputerScienceDegreeHub.com

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Paybefore Announces Winners for European Awards

Today Paybefore reveals the winners in 2014 Paybefore Awards Europe.

The third annual competition proved fierce throughout all 10 categories—the most ever—which included Top of Wallet, Market Mover and The One to Watch. This year, awards judges created the category Best Problem Solver, which recognizes winning programs using prepaid as an elegant solution to a significant problem. Entries across categories represented programs from the U.K., Turkey, Austria, France, Germany, Portugal, Poland, Hungary, Italy and more.

“Paybefore Awards Europe shine a spotlight on the innovators using payments to solve complex problems for a variety of constituents,” said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel. “Our winners are pushing the boundaries of what is possible in payments.”

Paybefore CEO Marilyn Bochicchio added, “It’s an exciting time in payments everywhere in the world, but this year’s Paybefore Awards Europe winners demonstrate how quickly prepaid and mobile solutions are replacing legacy paper-based systems. Paybefore Awards is thrilled to recognize the organizations that are taking on paper in its many forms—not just cash—to improve business, government and consumers’ lives.” Paybefore Awards Europe’s distinguished winners were selected by a five-judge panel comprised of Dr. Hugo Godschalk, PaySys Consultancy GmbH, managing director/partner, and Prepaid Forum Deutschland founder; Craig James, Neopay CEO and director of Prepaid International Forum; Siobhan Moore, associate, Locke Lord; and Paybefore’s Bochicchio and DeBonis.

Today’s winners now compete for the Best-in-Category distinction, which will be announced during a presentation at the All Payments Expo Europe in Marbella, Spain, on 19-21 May 2014. Before and during APEX Europe, visitors to Paybefore.com will be able to vote for one People’s Choice winner. Stay tuned for more details coming soon at Paybefore.com. Congratulations to all our winners!

Best Choice Retail Card:

ASDA Closed Loop Gift Cards
ASDA and First Data

HTA Garden Gift Card
Horticultural Trades Association, StoreFinancial

River Island Gift Card
River Island

Top of Wallet

Kalixa Pay
Kalixa

Skrill Prepaid MasterCard
Skrill

Vodafone SmartPass
Wirecard AG

Best Travel Companion

airberlin Flight Voucher
airberlin

Fair FX
Payment Card Technologies

ICE Travellers Cashcard
International Currency Exchange, Lenlyn Group

Top Motivator

Air BP Sterling Reward Programme
Air BP and Citi Prepaid Services

Bridgestone Prepaid Card
The Bancorp

Nikon Consumer Cashback Programme
Nikon and Citi Prepaid Services

Boundary Buster

Bread4Scrap
Payment Card Solutions

EE Cash on Tap
EE Ltd.

mpass
Wirecard AG

Prepaid with Soul

fastPay
DENIZBANK A.S.

ICE Travellers Cashcard
International Currency Exchange, Lenlyn Group

One4all BBC Children in Need Gift Card
One4all

Best Problem Solver

Austrian Airlines Prepaid Card
PayLife Bank GmbH

Canon Easy Warranty Plan
Epipoli

Travel Welfare
Payment Card Technologies

Market Mover

fastPay
DENIZBANK A.S.

Gordio Pointstic
Epipoli

Pingit
Barclays

Consumer Champion

cash4web MasterCard
PayLife Bank GmbH

ICE Travellers Cashcard
International Currency Exchange, Lenlyn Group

paysafecard
paysafecard.com Wertkarten AG



The One to Watch: Program

Genç Bankkart
Ziraat Bankasi

Infinite Aisle
InComm Europe

One4all Personalise My Card
GVS

The One to Watch: Company

CashStar Inc.

Skrill

Wirecard Card Solutions



Join us at APEX Europe to see who wins Best-in-Category! See you May 19-21 in Marbella, Spain!

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TAS Group’s New Card 3.0 Card Management Platform Increase Profits for Prepaid Card Programs

All Payments Expo exhibitor, TAS Group, is a global leader of software solutions for electronic money, payment systems and financial markets.  It is at the forefront of innovations in payments. Its solutions have been implemented in many large issuing and acquiring institutions globally.

TAS Group’s new card 3.0 card management platform increase profits for prepaid card programs. With card 3.0 program managers, processors and card issuers can now design and deploy prepaid products to market quicker than ever before…

To learn more about card 3.0, read the full press release from TAS Group here.

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5 Reasons to Partner at All Payments Expo

All Payments Expo is less than 3 weeks away, and attendees and speakers are already starting to cement their partnering plans for the event.

Here are 5 Reasons Why You Can't Miss The Partnering Opportunities at All Payments Expo:

1) Market Size: All Payments Expo is home to 1,500+ players looking for partners, including card networks, processors, issuers/acquirers, retail banks, start-ups, new technologies and 300+ merchants. Register now and start messaging them immediately to book onsite meetings. 

2) Interoperability: The future of payments relies on an interoperable infrastructure, which can only be achieved by leveraging partnerships with numerous stakeholders, including incumbents and newcomers fresh out of beta testing.

3) Investment Potential: Venture capitalists, banks and major corporations are all on the hunt for the next investment or acquisition. The potential licensing agreements, investments and acquisitions are why so many investors, banks and start-ups attend All Payments Expo.

4) More Merchants: Retailers will continue to play a hugely important role in emerging payments acceptance. Without a frictionless consumer experience and a strategic loyalty play, many new payments types won't find merchant acceptance -- or get off the ground. This is the only payments event with 300+ merchants in attendance.

5) The Future of FinTech: New non-bank companies are reinventing the ways consumers borrow, buy and bank. These newcomers often compete with hefty industry mainstays and grapple with uncertain regulations. With more than two days devoted to FinTech content, you'll meet new companies looking for scale and established firms looking to innovate quickly.

Register now to make a big impact on your 2014 strategy.

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Partnering Round Up: 12/23 – 1/3

All Payments Expo is committed to catalyzing value add partnerships for the betterment of the ecosystem. Here’s the weekly roundup of partnership news:

•  “FAA Federal Credit Union, University of Nebraska Federal Credit Union and Valley Credit Union have selected industry partners CheckAlt, iParse and CU Wireless as their mobile deposit solution provider. The move signals the company’s intention to expand their partnerships into 2014.” To learn more about this partnership, click here.

• “MasterCard, eServGlobal and BICS have announced the formation of HomeSend, a joint venture which will enable consumers to send money to and from mobile money accounts, payment cards and bank accounts regardless of their location.” To learn more about this partnership, click here.

•  “Q2, a provider of enterprise solutions for secure virtual banking, together with Urban Partnership Bank, has announced the successful implementation of upbAnywhere for online and mobile banking. Using the Q2platform, Urban Partnership Bank account holders can now securely access their bank accounts and manage money whenever and wherever they want using a computer, tablet or mobile phone.” To learn more about this partnership, click here.

• “Bank of America Merill Lynch has signed a multi-year agreement with cross-border PSP Earthport that will significantly expand the bank’s low value clearing capabilities worldwide, and advance the efficiency of its high volume, low value payments.” To learn more about this partnership, click here.

Click here for more information on partnering and how you can guarantee ROI at All Payments Expo.

See you in Las Vegas!

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Partnering Round Up: 12/9 - 12/13

All Payments Expo is committed to catalyzing value add partnerships for the betterment of the ecosystem. Here’s the weekly roundup of partnership news:

• “Lemon, a digital wallet platform which allows users to store their ID, payment, loyalty cards and more on their smartphone, has been acquired by identity theft protection service LifeLock for approximately $42.6 million, the companies [announced.] LifeLock is also now launching a new application called “LifeLock Wallet,” which is based on Lemon Wallet Plus technology.” To learn more about this partnership, click here.
• “Barclays Accepting Applications for New UK Fintech Accelerator – Barclays announced Monday a partnership with Techstars to launch a three-month accelerator program in the UK next year.” To learn more about this partnership, click here.
• “Wells Fargo & Company and Isis, the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA, Inc. and Verizon Wireless, has announced the first phase of an agreement that allows Wells Fargo Visa consumer credit card holders to load their cards into the Isis Mobile Wallet.” To learn more about this partnership, click here.
• “Payment processing firm Dwolla on Thursday announced the launch of a partnership with online service marketplace Fiverr in a move to help spur adoption of its payment option.” To learn more about this partnership, click here.
• “Coda Payments scores $2.3 million to make mobile payments without credit cards a cinch” To read more click here.
• “MasterCard is partnering with Samsung to bring tap-to-pay functionality to Australian shoppers who own a Samsung Galaxy S4 and have the Commonwealth Bank of Australia app loaded on their phone.” To read more click here.

Click here for more information on partnering and how you can guarantee ROI at All Payments Expo.

See you in Las Vegas!

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Partnering Round Up: 11/18 - 11/22

All Payments Expo is committed to catalyzing value add partnerships for the betterment of the ecosystem. Here’s the weekly roundup of partnership news: 

“African telecommunications giant MTN, and world leading e-payment service provider Visa, have come into partnership to offer customers a mobile payment solution which allows MTN Mobile Money customers to make online transactions wherever Visa is accepted.”  To read the full article,  click here.

“WunWun triples orders since launch, partners with Dwolla for payment” To read the full article, click here.

“Our extended partnership with Green Dot now allows our cardholders to load funds to their prepaid cards at more than 4,000 Walmart stores that offer Walmart’s Rapid Reload service.” said MasterCard Group Executive of U.S. Market Development, Craig Vosburg. To read the full article, click here.

"SumAll, the leading provider of connected data analytics, today announced a partnership with Simplify Commerce by MasterCard that makes it easy for merchants to accept e-commerce and mobile commerce payments, regardless of payment brand, in a matter of minutes." To read the full announcement, click here.

"Visa has announced a strategic alliance with global prepaid processor i2c, Inc., affirming its commitment to the growing prepaid market in Asia-Pacific, Central Europe, Middle East & Africa (APCEMEA)." Read the full article here.

Click here for more information on partnering and how you can guarantee ROI at All Payments Expo.

See you in Las Vegas.

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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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Prepaid Expo Day 1: Evening Recap

The Annual Paybefore Awards take time to recognize key players in the prepaid industry who have made significant strides in the space. This year there were many deserving candidates but the list below are the "Best-in-Category" winners. Congratulations to those who won an award. Paybefore Awards: Best in Category Winners Best Network Branded Gift Card Program - Western Union Gift and Greeting Card Most Effective Closed Loop Prepaid Card Program - Do It Yourself Home Improvement Gift Card Best GPR Card Program U.S. - PayPal Prepaid MasterCard Best GPR Card Program International - American Express Global Travel Card Best Third Party Payroll Program - ALINE Card by ADP Best Corporate Payroll Card - Walmart Money Network Payroll Distribution Service Best Prepaid Incentive Reward Rebate or Loyalty Card Program - Vitality Healthy Food Card/Walmart Best Benefits Distribution Card Program - Aetna Flu Care Card Best Business to Business Prepaid Card Program - TPC Payables Prepaid Visa Card Outstanding Mobile Wallet or Mobile App - Moneto Prepaid MasterCard and Mobile App Best Virtual or Digital Program - 10$ Starbucks eGift for 5$ LivingSocial Deal Most Effective Marketing Campaign - Visa National Consumer Campaign 2012 Best Retail Merchandising - Green Dot Retail Marketing Best Prepaid Card or Packaging Design - Simple Visa Best Consumer Value - BlackBoardPay Most Effective Solution - UEPS/EMV Debit SASSA MasterCard Best non-US Based Program - Power to Pay Most Innovative Program - MTA Reload Card Best Retail Based Prepaid Card Program - Walmart Expanding the Boundaries of Prepaid - Discover Outstanding newcomer - Kaiku Visa Prepaid Card Breakout Company of the Year - Rev Worldwide Industry Achievement - Brooks Smith: President and CEO of InComm & Roy Sosa co-founder and CEO Rev Worldwide

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Combination ID/Prepaid Card: Set to Debut in Oakland

Prepaid is one of the most flexible forms of payment available – and its latest incarnation, in Oakland, California, is a city-issued ID card for undocumented residents who are often financially vulnerable and under- or unbanked. It is the first city in the U.S. to offer municipal ID cards with prepaid features.

The card, dubbed the Oakland City ID Prepaid MasterCard  is a joint venture between SF Global, MasterCard, and University National Bank. The card was designed to provide identification (particularly so users can identify themselves to legal authorities) as well as provide entrance into affordable financial services. Card users can take advantage of direct deposit, as well as shop online with the card.

According to the Oakland Tribune, the card alone will cost $15. The prepaid features cost $2.99 per month. Other fees include a $1.50 ATM withdrawal fee, a 75-cent fee on purchases and a $1.75 fee for calling customer service. It will cost $2.95 to load money onto the card.

The applications for the program are now being accepted by the city and the first cards expect to be issued by March 15th. The city expects to issue 6,000 cards this year.

A similar card is slated to debut in Richmond, Calif., and apparently, Los Angeles is also considering the idea. What do you think of this sort of opportunity for the prepaid industry? This is a huge development for the prepaid industry because it is a direct link between a person’s identity and spending –increasing security for unbanked finances.

Where will prepaid head next? Find out at the Prepaid Expo this March. For more information about the Expo, click here.





See the full article here.

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Can Green Dot compete with Retail Banks as it beta-tests a mobile banking app?

Green Dot announced this week the debut of a beta version of its mobile consumer checking account – dubbed GoBank – thrusting the prepaid card company into retail banking.

Green Dot has been diversifying its business through several acquisitions and in this latest move is looking to leverage the negative sentiment and fee fatigue that many consumers have towards traditional banking institutions.

The GoBank checking app targets smartphone users and is FDIC – Insured. It leverages Green Dot’s extensive ATM network and includes optional fees, as well as a bevy of mobile features, such as remote check deposit. One feature, called “Ask The Fortune Teller”, is geared toward encouraging users to save money – drawing comparisons to tools from nontraditional banks like Simple and leaving the retail banking community to wonder if this is enough to secure a seat in an already crowded market.

In an interview with AmericanBanker, Green Dot CEO Steve Streit points out that this product is an FDIC – Insured bank account – which differentiates it from the prepaid Bluebird card from Walmart and American Express, which is issued and backed by American Express Travel Related Services Co., Inc. What does this mean for Bluebird, Simple, or other third party options?

Streit, CEO of Green Dot will be speaking side by side with American Express at this year’s Prepaid Expo (as well as executives from MasterCard and InComm). With the race on to capture the wallet power of consumers at a fever pitch, you can expect a lively discussion about mobile strategy and what opportunities exists for traditional prepaid players in the larger payments ecosystem. 

Check out the full article americanbanker.com here.


 ABOUT THE AUTHOR

Ryan Geswell is a New Media Analyst in the Finance Division at IIR USA with a background in Marketing and Media. He can be reached at rgeswell@iirusa.com.

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Fixture or Fad – What’s YOUR Vision for Future of Payments?

Earlier this month, we reached out to some of our esteemed Prepaid Expo alumni to explore the future of prepaid and payments with us.

Here's what David Parker, Director, Polymath Consulting, foresees:

 

What’s your vision for the future of payments? 

How do you think NFC, EMV, mobile technologies, apps and wallets will impact prepaid?      

Mobile enablement – the access of your desired payment solution through mobile – is now a must-have.  On the other hand, payments through NFC off a phone will grow, but will remain a growing niche based on where you live, and who you are.  

What’s a fluke – and what will become a fixture?            

The vision of payments is one where I will still have a card, but it may also be contactless. Will I pay off my phone? Possibly, for some things such as transit. But the vast majority of my payments will be on the plastic card in my physical wallet for the next five years.  

Sure, online, I will have a nice one-click wallet solution backed up by my card of choice. But too many global mobile operators are blinkered and looking at closed-loop, agent-led solutions. They all quote M-PESA in Africa as a great example, but it had unique circumstances.  

Try naming five, or even one, other market globally where this model has over a 20% market share of payments.  What we are seeing is closed-loop wallet led solutions attaching prepaid cards to themselves for a variety of reasons:  Neteller, Skrill, Paypal, Hyperwallet and MPesa!

The challenge here that telcos need to consider how open and closed loop will sit side by side from the start, and not look to implement these solutions later on.  Only in this way can they ensure that the best solution is implemented on Day 1, not a mixture of systems bolted together later on. Is there a role for closed-loop models? Certainly. 

But, I would argue that open-loop is complementary to the closed-loop part. After all, a very large number of withdrawal requests from M-PESA small agents are rejected due to the agent not having available funds.

Meanwhile, the growth of Mobile POS is here to stay.  Post-Square, we have seen a number of other companies launching in Europe and more are planned for Africa. This growth in a merchant acceptance base will fly in the face of those that believe everything will be NFC and Mobile within a few years.  

In my view, the plastic in your wallet will be there for a long time, especially if you travel/do business across a large number of markets. While some  Mobile/NFC based solutions may gain traction in certain jurisdictions, the old piece of plastic - Mag Stripe or Chip and Pin – still has the widest acceptance of any digital format.    

What technology will consumers choose?           

Consumers will choose technology based on a number of factors. First is availability.  Many pieces of 'technology' are talked about, but in reality are only offered in a small number of locations/markets.  The exception to this is NFC, which we will continue to see increasingly rolled out not just in the first world but also in developing markets, such as Africa. (Note: the recent announcement of 1 million prepaid contactless MasterCard Cards in Kenya.)

So what will consumers choose to adopt? A mixture of what they are offered which adds real benefits to their lives, and has a real value-add proposition.  The easy answer is of course mobile, but only where specific value propositions are identified and offered.  

Sometimes these will only be for a small group of people.  The key to adoption by consumers is perceived value.  It is no good for a bank to say, “Wow look what we can do for you!”  It is all about what consumers value.

About the Author:

David Parker is Founder and Chief Executive Officer at U.K.-based, internationally working consulting and research firm, Polymath Consulting Ltd.   

Editor's Note: 

For 2013, Prepaid Expo is focused on the future of prepaid and payments. We want YOU to be a part of the conversation. Give us your answer – and we’ll publish the best submissions! 

 

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Open Call: 2013 Paybefore Awards Nominations

Get the recognition you deserve by entering the 7th annual Paybefore Awards®. Programs and companies will be recognized in 20 categories, including Best Consumer Value, Outstanding Newcomer and Breakout Prepaid Company of the Year.

And, we’ll honor an individual(s) who has made the most significant impact on the prepaid industry with the prestigious Industry Achievement award.

Nominations Due: Wednesday, Nov. 21, 2012.

>> Click here to download the Call for Nominations brochure and to learn about our new and revised categories, and how you can participate in selecting Best-in-Category honorees as Paybefore Awards' "Sixth Judge"!  

For 2013, there are three parts to the Nomination Submission Form. You must complete and return all three parts electronically to Paybefore no later than 5 p.m. Eastern on Wed., Nov. 21, 2012. Email Parts I, II and III to paybeforeawards@paybefore.com. Please send all three parts of your Nomination Submission Form in a single email; one email per Nomination, please. Questions? - Call Jen Spiller at +1 617.671.1157 or email jspiller@paybefore.com. 

Join the Paybefore Awards celebration at 2013 Prepaid Expo USA. 

REGISTER BY OCT. 26 2012 FOR THE BEST RATES & SAVE UP TO $800

Online: www.prepaidexpousa.com

Email: customerserviceiir@informausa.com 

Phone: 888.670.8200 or 941.951.7885

* Mention your Prepaid Expo Blog VIP code to SAVE 10% off the standard and onsite rate: XU2648BLOG10

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Groupon Joins the Crowd in Mobile Payments

Groupon, the popular deal-of-the-day website, recently announced that it will now join the already crowded waters of mobile payments. With the launch of Groupon Payments, merchants are now able to accept credit and debit cards by swiping through a card reader attached to a smart device.



In an almost mirror proposal to its leading competitor, Square, Groupon touts that their service will guarantee the lowest rates possible, or match the lowest available. The new rates systems are structured in three tiers:

 • Swiped transactions — MasterCard, Visa and Discover (1.8 percent plus 15 cents) and American Express (3 percent plus 15 cents)

• Keyed-in transactions — MasterCard, Visa and Discover (2.3 percent plus 15 cents) and American Express (3.5 percent plus 15 cents)

• Non-Groupon merchants can also sign up for the service, however, they will be charged slightly more (2.2 percent plus 15 cents for MasterCard, Visa and Discover) Square offers 2.75% on all transactions or a flat $250 per month fee for businesses that generate less than $250,000 a year in revenue.

The new Groupon Payments Service also introduces a Merchant App. The app allows the merchant to accept daily deals, update business reports in real time, and also to scan and redeem Groupons which could attract those who already participate in offering Groupons to customers. The app will primarily be operated by the merchant until the customer will need to designate a tip and sign a digital receipt with their finger as they would any ordinary credit card device.

After the transaction is complete, the customer will receive an email with an electronic receipt. Payments through Groupon will have a quick turnaround. Merchants will be able to view transactions online immediately, and will be receive cash in their bank accounts from transactions of the day overnight.

 
As far as physical card swipers, Groupon has developed two methods to attach the reader to smart phones; a card reader dongle attachment, and a sturdy phone case. The card reader dongle attachment in appearance is like any of the ubiquitous card readers that are offered by Square and other services. The phone case reader is just that, a phone case that is attached to the smart phone in a sturdy non-intrusive package. The dongle is free when merchants sign up for Groupon Payments, the phone case on the other hand is available for $100.

In an interview with AllThingsD, Mihir Shah, Groupon’s VP of Mobile and Merchant Products, noted that he doesn’t think that Groupon Payments will compete with Square, rather it is targeting existing “Groupon merchants, who are running a brick-and-mortar restaurant business, like a restaurant or spa, and have already been accepting credit cards for a long time, and have high volumes,” he said. “The thing that comes up again and again is credit card processing, and we think they are paying too much.”

Though Groupon (NASDAQ: GRPN) stock price has dipped in recent months they aim to diversify their revenue streams by entering the already crowded waters of alternative mobile payments market. As the mobile payments space grows, services will attempt to one-up each other in order to become more appealing to, the real benefactors of their efforts, merchants and customers.

ABOUT THE AUTHOR

Phil Ng is a Social Media Analyst at IIR USA with a specialized focus on technology and technology culture. He may be reached at PNg@iirusa.com.

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The B2B Applications of Prepaid: Implications of Mobile Payments

In the video below, Carol Lee Mitchell of Global Prepaid at MasterCard sits down with Marilyn Bochicchio, CEO of Paybefore, earlier this year at Prepaid Expo USA 2012 to discuss Paybefore's mission.

Marilyn speaks about emerging and developed market trends She highlights the B2B applications of prepaid and the implications of mobile payments. She also shares her views about the existing regulatory environment in the US.

As the leading prepaid and emerging payments publishing company, Paybefore sponsors the Paybefore Awards®:

Now in its seventh  year, Paybefore Awards is the oldest and most prestigious awards to recognize excellence in the worldwide prepaid and stored value industry.

Three winners will be selected in approximately 20 categories, including Most Innovative Prepaid Solution and Breakout Prepaid Company of the Year. Best-in-Category and Industry Achievement winners will be announced at the Prepaid Expo USA, March 4-6, 2013, in Orlando, Fla. Applications will be available in mid-September, with nominations due Friday, November 16, 2012.

Editor's Note:  We encourage you to learn more and become involved with Prepaid Expo 2013, bringing together professionals from leading retailers, processors, financial institutions, service providers and marketers in the prepaid marketplace every year. Over 12,000 people have attended Prepaid Expo USA since 2007 to hear industry experts discuss what's next in the growing prepaid marketplace and where it fits in our new economy. Visit www.PrepaidExpoUSA.com to learn more.

* Thank you! Save 10% off the standard rate when you register for Prepaid Expo 2013, use Prepaid Expo Blog Reader VIP Code: XU2648BLOG10.

About the Author

Valerie M. Russo is a Senior Social Media Strategist at IIR USA and Managing Editor of the Prepaid Expo Blog. She has worked in media positions at Hachette Book Group, Aol, and Thomson Reuters and has an anthropology and brand-building background. She is also published poet and maintains a literary blog. She will be live blogging during Prepaid Expo 2013, taking place March 4-6, 2013, in Orlando, Florida and hopes to meet you there. She may be reached at vrusso@iirusa.com. Follow her @Literanista.

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Prepaid Expo 2012 Winner Video: The Israel Postal Bank Payoneer Card

The winner of the 2012 Prepaid Expo's best "Paybefore" card to use for traveling or remitting payments was the Israel Postal Bank Payoneer Card, developed byYuval Tal in conjunction with the Israel Postal Authority. In the video below, Yuval Tal  shares more about this innovative prepaid product.

The prepaid card can be loaded with money from the Israel post office before traveling. When abroad, the funds can be obtained through a local ATM machine in the foreign currency of that country, eliminating the need for carrying large sums of cash or traveler's checks that can be lost or stolen. The card has also become a reliable and safe way of paying for online purchases, because there is no need to give out private details over the Internet.

For more information about Yuval Tal, click here and to learn more about Prepaid Expo 2013, please visit http://www.PrepaidExpoUSA.com.

Related articles

• Live from Prepaid Expo 2012: Branding & Prepaid
• UPside Visa Named Winner in Sixth Annual Paybefore Awards

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• Watch: Interviews with Paybefore Awards Winners at Prepaid Expo 2012

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Video: Youth Market Starts as a Stepping Stone for Prepaid Technologies

Mike McCoy, CEO of Bill My Parents had a chance to interview MasterCard's Shekhar Sahgal, at Prepaid Expo USA 2012.

In the video below, they "discuss responsible spending, innovation and new tools provided through the Spend Smart Prepaid card. The new features include parents' mobile controls on how the card is used, instant funds transfers from friends and family, and emergency load. Bill My Parents is currently exploring various technologies in the prepaid space for the teen and youth market."

 

 * Thanks to Partners in Prepaid for sharing the video with us.

 To learn more about Prepaid Expo 2013 and how to get involved, please visit www.PrepaidExpoUSA.com.

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Interview with Bob Skiba, EVP Financial Services Business Development at InComm

Carol Duchardt, U.S. Region Sales Manager at MasterCard had an opportunity to interview Bob Skiba, EVP Financial Services Business Development of InComm, at Prepaid Expo USA 2012, last month in Las Vegas Nevada.

 In the video below, Bob touches on InComm's responsibilities to distribute cards to retailers, themed cards for several occasions, and self use cards.

 

* Thanks to Partners in Prepaid for sharing the video with us.

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Conference Roundup: IIR USA’s Prepaid Expo

by Julie Kurd
Director on CMB's Financial Services, Healthcare, and Insurance Practice

1,700 of us converged in Vegas at IIR's Prepaid Conference in February to talk about this new frontier business, "pre-paid"(think about it as your money (you know, debit) available to you anytime, anywhere).

We used to think of prepaid simply as a prepaid debit card but now the prepaid world is converging with the mobile applications world and a magical thing is happening...in the near future you may not need your wallet anymore, because your phone is holding everything, including your money. Some of the smartest frontiersmen and women from the Fortune 500 spoke, presented, mingled and shared thoughts about the world of tomorrow.

When one thinks of the staggering estimate of 70,000,000 people who are ‘unbanked' or ‘under banked,' that is, living paycheck to paycheck, overdrawing their bank accounts to steep fees (if they still have an account), sometimes using pawn shops, payday loans and other financial instruments that come with steep fees, the prepaid world is asking: Why couldn't life be better for these people? Why couldn't the money just arrive on a card in their wallet on payday? Or better yet, why couldn't the money just zip over to their mobile phone?

And if they're transferring money to loved ones in foreign countries, why couldn't you send it via your phone and get a reply message back when the recipient actually receives the money (and what amount they actually received)? Why couldn't governments save millions of dollars by using pre-paid to reduce administrative burdens of check administration?

Many of the leaders in the prepaid industry attended and spoke at the conference. Some of the highlights:

• Brian Triplett, VISA talked about the broad opportunity to have better public/private relationships and partnerships. He got us all thinking about how we can better partner with government entities in a way to drive better value to the constituent base. He interviewed former President Bill Clinton as well. Together, they explored the central concept of infrastructure and ‘the old way of doing business' being a key constraint as well as how prepaid can transform the administrative burden for the healthcare industry, government payments (unemployment, social security, Medicare, jury duty, employees etc.).
• Alpesh Choksi, AmEx President Prepaid spoke about how he expects prepaid to transform the lives of people all over the world. He says that the economic crisis has helped with articulating financial security, safety and control which is exactly what prepaid provides. People are now connected to their money in new, non-traditional networks. New devices are being born every day and two-way devices such as phones now allow people to service differently... direct to consumer tailored marketing campaigns based on location etc. are really not at all far-fetched or constrained by budgets or tools anymore.
• Laura Kelly, SVP of Global Prepaid and Healthcare for MasterCard talked about prepaid as being ‘smarter, bigger, better.' These are not small splashes...Her "Smarter" stood for the innovation as evidenced by the Easy Link prepaid card in Singapore which is both a transit card AND a shopping card. Her "Bigger" is a walloping large payroll program launched by WalMart that saved 258,000 pounds of paper and gas for associates to drive to the store for their paycheck. Finally, her "Better" stood for better for the consumer. She used the example of social security prepaid cards that are now being used by nearly 900,000 people in this country to provide a more secure way of getting money directly to the people who need it without fear of checks disappearing from mailboxes.
• Farhan Ahmad, GM of Emerging Business at Discover talked about the need to get new innovative products to market in less than 6 months. No small feat for a large company. He and his team are considering mobile payments as an emerging solution that can fundamentally affect the infrastructure for the USA with "better, safer, more convenient access to people's money where/when they need it."

Original Post from CMB Blog: http://blog.cmbinfo.com/bid/35755/Conference-Roundup-IIR-USA-s-Prepaid-Expo

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