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.
Prepaid/No Contract a Favorite Consumer Choice
In the days when no contract wireless was still called prepaid, service providers struggled to gain acceptance of their plans and products. Some people referred to the prepaid phone as the “product of thieves.” Gradually, prepaid became exciting – was reinvented as “no contract” and went mainstream as recession-hit consumers became value-conscious.
Company Laboring to Restore Services
A technical snafu wreaked havoc with RushCard prepaid accounts last week, preventing card users from getting access to their funds and stopping the company from posting direct deposits. Some of the problems remained unsolved at press time.
Target Goes 'All-In' on EMV User Adoption
Target, by all accounts, the corporate face of retail data breach, is driving full force to use its complete embrace of EMV to bolster its tarnished image and put it in the vanguard of card fraud protection and data security. And it is targeting one of the biggest sticking points to EMV: User Adoption.
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.