Paybefore Recognizes Market-Leading Programs in London

Last week at Prepaid Expo Europe, Paybefore announced the Paybefore Awards Europe 2013 Best-in-Category winners. Paybefore Awards Europe was created to recognize excellence and innovation in the European prepaid and emerging payments market.

“Prepaid is a global phenomenon,” said Marilyn Bochicchio, Paybefore CEO. “Nearly all of the companies we’re honoring here tonight are supporting innovative and effective programs in Europe, and are operating in or planning to expand into new geographic markets.”

2013 Paybefore Awards Europe Best-in-Category Winners are:

Best Gift Card or Voucher Programme
£5 for a £10 Starbucks Card eGift, LivingSocial Deal
Starbucks, LivingSocial and CashStar

Best Prepaid Incentive, Reward, Rebate or Loyalty Card Programme
Western Union MyWU Prepaid Card
Western Union

Top Prepaid Retailer
Asda
Supported by InComm Europe

Best Consumer Value
paysafecard
paysafecard group

Best Corporate- or Government-Funded Programme
Simple Payment
Citi Prepaid Services and Department of Work and Pensions

Most Innovative Programme
Bratislava City Card
First Data

Outstanding Mobile Wallet or Application
O2 Wallet
O2 Money Telefónica UK

Breakout Company of the Year
Wave Crest Group Limited

For a complete list of winners, click here. 

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Mobile Payment Adoption

Mobile payment adoption has become a pressing matter in the retail industry with everyone looking to successfully integrate new technology with the payment systems already in place. KFC is the latest retailer to make a splash with its AIRTAG partnership announcement to launch the chain’s first ever mobile and web app designed for ordering and paying, titled “KFC Fast Track”. This seamless ordering experience includes; geolocation, mobile and web ordering/payment capabilities, a mobile check in feature for in-store order recall. Plus, customer accounts so users can store details for one click payments.

IT Director of KFC UK & Ireland, Paul Borrett said, “Our customers lead increasingly busy lives and KFC Fast Track is focused on helping them order, pay for and collect their food faster than ever before.”

The same themes continue driving today’s innovation – accessibility and simplicity,  Many key players in the retail industry are testing products similar to KFC’s, such as Starbucks with their Square Wallet. As mobile payment solutions are becoming increasingly popular, who will win the race to mobile payment supremacy?

In just one week, hundreds of prepaid and payments leaders in Europe will converge to discuss the latest innovations that are posing the biggest opportunities for banks, merchants, mobile players and programme managers. If you want to capitalize on the evolving landscape, this is where you’ll find new partners, sharpen your strategy and dive into thought-provoking discussions on how the payments landscape continues to evolve across Europe.

To see the full agenda and register, click here.

Read the full article here.

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5 Reasons You Can't Miss Prepaid Expo Europe

Increased competition, often from nontraditional players, slim profit margins and regulation have been placing pressure on prepaid businesses around the globe. However, as we’ve been discussing here on our blog, recent digital and mobile innovations have ignited the payment world providing a host of opportunities to combat traditional hurdles and reinvent how we think about payments and banking.

As we continue our year round research, we shaped our Prepaid Europe agenda around these exact themes. Here’s a list of our top five sessions planned for Prepaid Expo Europe

1. What You Need to Know About Expanding Your Prepaid Programme Across Europe

Industry leaders, including Ticket Master, will address how they’ve taken a successful prepaid programme and moved it into new geographies, including how they’ve overcome cultural idiosyncrasies and regulatory hurdles. (Reminder: This is just one of FOUR pre-conference workshops to choose from – see them all here.)

2. Wallet Hype vs. Reality: What’s the Future of the Wallet?

Sift through fact and fiction and hear when industry experts predict the digital wallet take off? Executives, including the O2 wallet, will dissect the appetite for a wallet, and which functionalities will pave the way for mass adoption.

3. What Incentives Really Make an Impact? – Straight from an HR Director

We’ll be interviewing an HR Director to gain insight into how and where incentives make an impact in the workplace. Get the information you need to tailor programmes that are attractive to employees – and maximise your presence in the B2B channel.

4. Saying Good-bye to the Paper Cheque: A New Era for Government Payments

Hear from both Citi and the Department for Work and Pensions in a case study on how prepaid is replacing paper cheques on a new electronic platform giving you a feel for how to eye new opportunities – and enact them.

5. Have the Needs of the Consumer Changed?

Shoppers’ preferences are shifting in kaleidoscopic fashion, including mobile browsing, show-rooming, and eCommerce. Are you leveraging these changes in your prepaid programme? What are the newest consumer-driven innovations? You’ll be inspired to rethink the product pipeline after this session.


This is just a taste of the 20+ hours of content and networking we’ve put together for Prepaid Expo Europe, the largest gathering of retail, B2B and open-loop executives focused on prepaid in Europe.

Click here to download full agenda and speaker details.

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Study Says Prepaid is Primed For International Expansion

By Marc Dresner, IIR USA

If there’s any truth to the old business adage, “You’re either growing or you’re dying, “ then the prepaid industry is living LARGE overseas!

I recently received some topline stats from Mercator Advisory Group’s inaugural Global Prepaid Card Market Potential Ranking (2010), and the numbers make a compelling case for crossing the pond.

While the U.S. prepaid market – with roughly $330B in loads since 2009 – will likely remain the undisputed 600lb gorilla for years to come, Mercator’s results indicate the rest of the world is primed for prepaid.

The study pegged the aggregate prepaid market opportunity for the top 30 non-U.S. markets at a – cough – respectable $762.2B over time.

(Note: the italics indicate a caveat. Mercator emphasized that the figure above and those that follow are based on a series of relative assumptions and not projectible to a specific year, so please do not go galloping into, say, Eastern Europe without a coat and due diligence.)

BRIC markets have captured the attention and imagination of just about every industry eyeing international expansion – and they show tremendous promise for prepaid – but there is a reason they’re still referred to as “emerging” markets. Mercator’s study suggests that, at least short-term, the best investment opportunities lie in Western Europe.

The top five most promising markets for prepaid expansion are:

1. Germany ($111.0B)
2. Italy (100.7B)
3. France ($74.5B)
4. U.K. ($74.4B)
5. Spain ($45.3B)

It’s a political cliché, but this much is true of Europe: government is BIG, as in capital “B” billions big for prepaid. And this trend is not isolated to Europe. Across all 30 markets Mercator examined, government appears to be the best prospect for prepaid.

Global prepaid opportunity estimates by segment:

1. Government ($425.3B)
2. Store Gift ($164.5B)
3. Open Gift/GPR ($59.6B)
4. Payroll ($51.8B)
5. Incentive Cards ($42.4B)
6. Campus Cards ($18.6B)

Of course, the extent to which each of these segments proves fruitful for expansion differs by country and is subject to a plethora of complex market, cultural and regulatory factors.

International expansion is an intimidating and complicated undertaking, but the numbers paint a promising picture for prepaid.

So…to help U.S. players navigate this new frontier, IIR USA’s Prepaid Expo will close Wednesday March 9th with a series of presentations specially focused on international expansion.

If this particular study is of interest, you’ll be pleased to know that Mercator’s director of international advisory services, Terry Xie, will be among those speakers. Xie plans to review the study findings and implications in detail and offer strategic recommendations for prepaid companies looking to cross borders.

Two final notes:

First, I’m sure some of you took issue with my comment about the relative nascence of BRICs for prepaid. I’m just the messenger. India, for example, ranked 13th out of 30 markets studied.

A panel also slated for Wednesday March 9th at the Prepaid Expo will focus exclusively on India, and will provide deeper insight into the country’s growth potential as well as barriers to entry.

Second, if you are not already aware, IIR USA has joined forces with the UK’s Gift Card and Voucher Association to bring you The Gift Card, Gift Voucher, and Reloadable Card Event on March 30 in London. If Mercator is correct, you won’t want to miss the most comprehensive prepaid event on the continent!


Marc Dresner is an IIR USA communication lead with a background in trade journalism and marketing. He is the former executive editor of Research Business Report, a confidential newsletter for the marketing research and consumer insights industry. He may be reached at mdresner@iirusa.com

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Clear2Pay and Edenred Launch Prepaid Lunch Voucher Program in Belgium Market

According to this article in ecommerce-journal Clear2Pay and Edenred have partnered to release the first ever card-based luncheon voucher in Belgium. The card will replace paper based vouchers and can be used for food purchases at retail stores and restaurants. Edenred has been working on this project with large retail customers in order to ensure that this ran smoothly. In addition to that, the card reduces a lot of administrative support and produces faster payments.

What's in store next for the European prepaid market?

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Lessons from a Master Thief... only at Prepaid Expo Europe

New Keynote Speaker Announcement for Prepaid Expo Europe

Hamish Taylor: A “Master Thief” Provides Insights into How to Ensure Long-Term Growth in the Prepaid Industry
Former CEO of Sainsbury Bank and Eurostar shares how to apply innovative strategies to reap the benefits of a burgeoning sector

Prepaid programs in Europe are at risk of not achieving their true potential. Executives anxious to jump on the Prepaid and gift card bandwagon might not be doing the proper due diligence to ensure that what they’re offering is what their customers actually want. Hamish Taylor has sat at the helm of Sainsbury Bank and Eurostar and led branding at British Airways... and his biggest successes with these legendary brands came as a result of applying revolutionary strategies from outside the given industry. His record of innovation by transferring ideas between sectors has garnered him the dubious title of “master thief”—but it is these very tactics from established industries that need to be applied to the relatively new Prepaid space in order to ensure success.

Prepaid Expo Europe is honoured to have Hamish share his amazing and entertaining anecdotes about turning businesses around by going “beyond the data” and listening to the customer. Hamish will offer specific actions that you can apply to your prepaid program to ensure that your strategy is a growth strategy, ensuring long-term market dominance.

View the Prepaid Expo Europe Homepage

View the most up-to-date Prepaid Expo Europe agenda

Register Before 16 April for € 200 off the standard rate, use code XX2003BLOG1

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Free Web Seminar - The Evolution of Global Prepaid Through Innovation

Date/Time: Wed, Feb 17, 2010 11:00 AM - 12:00 PM EST
Register: https://www1.gotomeeting.com/register/740316288
Mention priority code U2229W1BLOG

SCL & Visa will be presenting their collective experience in the world of prepaid, focussing on the theme of innovation.

As well as the technical innovation that both organisations can demonstrate their leadership in, the presenters will also chart the evolution of prepaid programmes in terms of product innovation, covering all prepaid categories from Giftcards to Multi-function event & transit cards.

The webinar will also highlight innovation in evangelising prepaid into new markets and examine some of the adaptations that are needed to specialise or localise programmes to cater for the differing perceptions, attitudes and market conditions in previously un- or under-served territories.

Similarly, it will focus on the migration of prepaid from the world of retail into different areas such as government, healthcare, insurance, entertainment and transport.

The theme of innovation will be illustrated throughout with real-world examples from both organisations.

What you will learn from attending:

• Understand the role innovation has played in the growth and development of the prepaid market
• Hear real life case studies of how innovation has been used
• See the latest developments in prepaid and hear what's coming next

Featured Speakers:
Pat Roe, Sales Director, SCL
Greg Sheppard, Senior Manager Prepaid Centre of Excellence, Visa Europe
Brian Triplett, Global Head of Prepaid, Visa

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Surge in prepaid card sales

Convince Store Decisions looks at the current upswing in convince stores are seeing in the sales of prepaid cards. In addition to prepaid cards for calling overseas, companies have seen an increase in mobile phone cards an gift cards for fuel brands. Read the complete article here.

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Prepaid cards for green

According to the San Antonio Business Journal, SmartCard Marketing Systems Inc will issue an environmentally conscious prepaid debit card. With each sale of the prepaid card, a portion of the proceeds will go to an environmentally friendly cause.

Prepaid Card CEO Chris Ingram says
“We have identified a definite interest in our large customer base for environmental causes. We are very excited about this special sales campaign with the VelocityMoney Prepaid Card. We are partnering with several major environmental organizations on this program.”

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Prepaid Cards Offers the Best Deal in Foreign Currency

This latest post on compareandsave.com discusses how many Britons are failing to realize that they will save more money purchasing foreign currency if they use prepaid credit cards, according to FairFx. Stephen Heath, FairFx's CEO, mentions "Will 2009 be the year that travellers wake up to the savings they can make by using a prepaid card for all their holiday spending?" Do you think we will see more and more Britons use prepaid cards for their foreign currency purchases?

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Could banks increase customers by improving prepaid services?

According to Digital Transactions, they addressed the fact that banks could bring in more customers if they improved their prepaid card services.

According to the article, "They found that customers on average cashed 28% of their checks over the preceding three months at banks, 53% at check-cashing outlets, and 19% at other locations such as retail stores. Some 53% of the respondents had a checking account at the time of the survey, 21% didn’t but had one in the past, and only 26% never had a checking account. Those with checking accounts cashed 34% of their checks at banks."

Read the full article here.

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First Prepaid Cards in Japan

According to Global Atlanta, TSYS will begin to provide Japan with its first prepaid cards in July. Travel Bank Inc will provide these cards.

TSYS International President Gaylon Jowers Jr. stated this about the new cards, “Prepaid cards are a trusted alternative to travelers’ checks in many countries, and the number of issuers that are interested in prepaid cards is increasing worldwide."

Read the full article here.

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Ten Promotional Uses for Plastic Cards

Prepaid cards are a great way for brands and companies to market their name. Plastek Cards recently released a list of ten ways that companies could use plastic cards to further promote themselves and their brands.

• Business cards. While many people use the traditional business card printed on card stock, nothing about their card really stands out except any colors or images. Make business cards stand out by printing it in high quality plastic that is both durable and strong.
• Membership Cards. If companies require a membership, consider having plastic membership cards instead of paper cards. Membership cards can be printed on plastic that be punched when members come into the business or purchase items in the store.
• Gift Cards. For the holidays, can create customized gift cards on durable plastic. Plastic cards can be printed on one side with business information - logo, location, etc. - and the other side can include strips to write who it's to, who it's from, and how much the gift card is worth.
• Loyalty Cards. To reward frequent purchasers, consider giving them a loyalty card that gives them a certain percentage discount every time they buy from the company or business. Consider having a "Share Your Loyalty Day" and have them bring in friends for discounts on certain days.
• Key Access Cards. If certain business has doors that require keys for in/out access, consider switching to a key card access. Company logos can be printed on one side, and the magnetic stripe for in/out access can be printed on the other.
• Prepaid Phone Cards. Use prepaid phone cards as a way to promote your business and provide long distance service to customers or prospects. A prepaid phone card with company logos and information doubles as a gift and a marketing tool.
• Fundraising Cards. Fundraising cards are perfect for organizations that need fundraising results. These cards entitle the holder to discounts and provides the donating company with increased business. Use these to grow awareness for many kind of companies and business.
• Key Cards. Any plastic card can be made into a key card that attaches to a key ring for easy access and visibility. Membership and loyalty cards can be made into key cards, or advertise business or website by printing info on a key card.
• Luggage Tags. Personalized luggage tags can help identify bags from the rest and can help promote business'. Companies can provide employees with personalized luggage tags so that they're promoting their business while traveling.
• Calendar Cards. Print a calendar on one side of a plastic card and print their business information on the other. People will be inclined to keep the card for the convenience of having the calendar and will be reminded of their services every time.

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Western Union provides prepaid cards overnight

Western Union is offering a new service to customers that offers home delivery to its customers via the MoneyWise Visa Prepaid Card. The loaded cards are delivered to their users to their home or business over night via FedEx. Find out more here.

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How do consumers look at prepaid cards?

At RTO Online, they look at a new survey that was recently released that explains why consumers like prepaid cards. It has been shown that by using prepaid cards, consumers are able to enhance their financial wellbeing.

Other reasons they like to use prepaid cards: convenience, accessibility, immediate liquidity, simplicity and transparency, value, and built-in discipline.

Read the full report here.

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Hybrid cards may be the future

At CreditCards.com, they talk about the growing popularity of hybrid prepaid/credit cards. These cards allow the user to both build credit and yet avoid the problems that can come with prepaid cards. The card comes with a normal way to deposit money like other prepaid cards, but also has a line of credit or advanced payroll loans. For more information, read the full article here.

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WalMart MoneyCard

According to Bankaholic, they see the WalMart MoneyCard as the best value for a prepaid card. They state it has the lowest fees, all of which are waived if they are direct deposited, which is important in today's economy. They also state that the deposits are FDIC insured. What do you think? Is WalMart the best prepaid card for consumers? What do other cards offer that WalMart doesn't?

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Omni Prepaid can now offer MasterCard

Omni Prepaid cards have completed the MasterCard certification process and will will now be able to mail, personalize, emboss and embed their prepaid cards with MasterCard. The also offer Visa.

CEO Jason Wolfe had this to say about the new certification process:
"This certification is another stepping stone towards our mission of becoming a one-stop-shop for clients looking for vertically integrated solutions in the prepaid market space."

Source

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Tips on How to Beat the Flunctuating Pound with Prepaid Cards

The pound which has plummeted against all major currencies this past year has added extra costs incurred by UK business travelers. According to this article on TimesOnline, the best way to cope with this dilemma is by loading prepaid debit cards with dollars or euros when the exchange rate is favorable. Some of the better known prepaid cards that are supplied by the exchange companies are Caxton FX and FairFX.

Mark Bodega, marketing director of HiFX offers this advice before shopping for a prepaid card,“It is worth shopping around before deciding on a prepaid card. Some levy a fee every time you spend, either a percentage of the amount or a flat fee per transaction. If you make a high number of small purchases, go for a percentage fee; for fewer but higher-value purchases go for a set fee.”

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Coinstar E-payment services recognized

According to Fox Business, convince store chains have voted Coinstar E-Payment Services as top prepaid performer.

Mike Skinner, general manager, Coinstar E-Payment Services, had this to say about the award:
"We are honored to be acknowledged as a leading prepaid provider by our customers. This recognition not only points to Coinstar's leadership in the Pay As You Go industry, but to the dedication of our retail partners to make the prepaid category successful."

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