At All Payments Expo in Las Vegas last Spring, a wealth of knowledge was to be had from the panel discussion titled "Strategies for Financial Access for Payments Companies". This panel was comprised of Lyle Elias of IPayments Forum, Elizabeth Bohlen of Pueblo Bank & Trust, Carol Van Cleef of Manatt, Phelps & Phillips, and Donna Embry of Payment Alliance International
Some of the topics discussed were:
Creation and financing of high quality financial products for the
under-served demographic, including consumers and small
businesses
Best practices in bundling of new products (from savings to
investing, retiring and lending)
Evolution of customer segments within the under-banked category
and exploring new access channels
Prepaid TV™ unpeels an appealing, but complex market
By Marc Dresner, IIR
At an estimated 13-17% CAGR, China’s prepaid market (approx. US$230 billion in 2010) is poised to overtake the US as the world’s largest before the decade ends.
It’s a not the model we’re accustomed to in the West—and not without its quirks—but with such a rapid adoption rate, China’s prepaid market has legs and is running fast!
Take gas cards, for example. The two major State-owned gas station operators don’t take credit cards, and dealing in cash is becoming increasingly cumbersome as more and more members of China’s expanding middle class take to the roads in cars. Solution: prepaid petrol cards! And they’re being aggressively pushed.
According to Terry Xie, Director of the International Payments Advisory Service at Mercator Advisory Group, while barriers to entry can prove daunting, China offers significant opportunities for foreign players with the right amount of capital who understand the market.
And Xie says don’t be intimidated by China's increasingly tight regulatory environment; it may actually catalyze growth!
In a three-part interview with Prepaid TV™ – the official streamcast network of Prepaid Expo — Xie provides a blueprint for navigating the world’s second largest prepaid market and some considerations for foreign interests who would like to do business in the People’s Republic.
ABOUT PREPAID TV™
Prepaid TV™ is an executive interview series featuring the leading voices in prepaid today, along with a few rising stars that you should know about.
Each month, we’ll deliver fresh insights and answers from a variety of perspectives – networks, banks, retailers, programs and providers – on the forward-facing issues that matter most to the prepaid industry.
Prepaid TV™ is produced by Prepaid Expo, the world’s largest, most comprehensive and independent forum dedicated to meeting the information and business needs of the entire stored value community.
ABOUT THE AUTHOR/INTERVIEWER
Marc Dresner is IIR USA's communication lead. His background is in trade journalism and marketing research. Prior to joining IIR, Dresner was the 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. Follow him @mdrezz.
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Prepaid TV™ Series Explores GPR Payroll, Social Media Distribution and More!
By Marc Dresner, IIR USA
As a baby, my parents used to brag that I should be on television. The neighbors said I had a face for radio…
This much is certain: I like to ask questions. Call me insatiably curious or plain nosey, it’s why I became a business journalist.
So when Prepaid Expo offered me an opportunity to host a new online video interview series focused on the prepaid card biz, I grabbed my pad and pen and went hunting for victims to grill.
And I’m mighty pleased to say I’ve landed interviews with some of the leading authorities in the open- and closed-loop prepaid card industry today (along with a few rising stars that you ought to know about).
On behalf of Prepaid Expo, today we’re delighted to air the first of those interviews in the debut segment of Prepaid TV™!
Episode One features a five-part interview with Mercator’s VP and director of prepaid services, Tim Sloane, who was gracious enough submit to a broad discussion on key trends in prepaid and what they mean for retailers, networks, banks, programs and providers.
Part 1: New Entrant Impact – Sloane says the prepaid sector – closed- and open-loop – is poised for a staggering 68% CAGR this year! How much of that is going to come from new players, and who are they?
Part 2: Prepaid & Social Media – The distribution channel mix is changing. See how social media is fueling consumer interest in prepaid products.
Part 3: Prepaid & Payroll – GPR and prepaid financial services are expanding their footprint. Could cards kiss paper payroll checks good-bye?
Part 4: Game Changing Technologies – Process management is getting extremely complex. Take a look at some automation tools and outsource providers making a difference.
Part 5: Retailers – This ain’t your grandma’s gift card; retailers are getting into the financial services game. Expect prepaid to play a in big way.
Bookmark us and stay tuned for episode two, featuring MasterCard’s Neil Dugan, SVP of Global Prepaid.
Prepaid TV™ marks yet another step in Prepaid Expo’s commitment to deliver year-round access to key executives and thought leaders.
Let me know what you think! And thanks for watching!
ABOUT THE AUTHOR
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. Follow him @mdrezz.
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