Reliable Platforms Can Generate Revenue
Self-serve kiosks can be powerful tools for the “convenience markets” and for the prepaid market, specifically the unbanked and underserved, who make up about 28.3 percent of all households, according to federal studies.
Acting Director of MSBA, a New Trade Group
Veteran association executive Kathy Tomasofsky is assuming a leadership role at the new Money Services Business Association during a time of great change in the industry. At the very moment that digital currencies seem poised to reshape the business, it appears that state and federal regulators are contemplating stronger rules and closer scrutiny. Against that backdrop, The Prepaid Press asked Tomasofsky about her reasons for leaving one trade group for another and what she sees ahead in prepaid and funds transfer.
Teaching the Art of Saving
A new use for gift cards has been launched. Giving shares of a stock to a child is not a new idea, but it’s been tricky to execute and administer. Now there is a way to skip paperwork and give the gift of investment by means of a gift card, a favorite prepaid product.
What it Takes to Keep Customers
Given the intense competition in the wireless industry and scant new growth, loyalty and customer retention are major problems for postpaid and prepaid service providers, both traditional and MVNOs. Keeping your customers happy requires knowledge of your market and staying on top of what the competition is doing. So let’s see what’s happening in prepaid.
Chip Cards a Milestone in Lessening Fraud
The much anticipated Payment Networks’ Liability Shift associated with EuroPay, MasterCard, and Visa (EMV) has begun in the US, as of October 1. It’s a major milestone for financial companies, including banks and credit unions, credit card issuers, and retailers, in an industry-wide effort to decrease financial fraud.
Starbucks Mobile Order-and-Pay Now App
Always an innovator in customer loyalty and rewards programs, Starbucks is leading the way in mobile payments. The coffee and light food connoisseur has spun out its Mobile Order-and-Pay Now app nationwide.
Unipagos Serves Mexico’s Unbanked
Paul Coppinger, a veteran of the US payments industry, had an epiphany when he was traveling abroad. He saw that countless people around the world don’t have access to the banking system but do have smartphones. Why not combine prepaid funds and wireless transactions, he thought, to create a whole new payments system for emerging economies?
Director of the Prepaid Advisory Service at Mercator Advisory Group
After reporting for the daily newspaper American Banker and editing Prepaid Trends magazine, Ben Jackson made the transition from journalism to consulting. In 2009, he became an analyst for the Mercator Advisory Group and a year and a half ago earned a promotion to director of Mercator’s Prepaid Advisory Service.
Customers and Retailers Become More Environmentally Conscious
Renewability is a quality that is increasingly important for businesses, as 57 percent of the Fortune 500 are reporting on their environmental, social and governance impacts, according to the Gift Card Network Forest Materials Committee. The gift card industry is looking for ways to be more sustainable.
Alok Deshpande on the Convergence of Banking and Mobile
Perhaps it should come as no surprise that Green Dot Corp. has moved beyond the de facto banking functions of prepaid cards into a more full-fledged mobile banking service called GoBank.