Posts Tagged ‘prepaid cards’
Banks chase R29bn prepaid-card market in SA
30 January 2012 | 
Author I’m off to Cape Town next week to meet some of the key players behind the growth of Prepaid in the region.
In South Africa we haven’t got to the point yet where local celebrities are clamouring to get their names branded on prepaid cards, but it is a market that is showing so much growth potential that the widest represented prepaid industry organisation in the world, Global Prepaid Exchange, established an office in Cape Town late last year.
It also represents a big enough market opportunity for the big banks in South Africa to sit up and take notice, expanding their prepaid offering to get a slice of the cake. According to Global Prepaid Exchange, the market is worth R29.4bn annually – almost half the current market capitalisation of Nedbank, South Africa’s fourth largest bank. The term “market opportunity” is used to describe the estimated maximum potential annual load value that could be achieved in the market on prepaid products given current market conditions.
via Banks chase R29bn prepaid-card market in SA – Financial | Moneyweb.
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Posted in Global Prepaid Exchange, Marketing | 
Tags: Cape Town, Global Prepaid Exchange, Nedbank, prepaid, prepaid cards, South Africa | 
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Government administered, general use prepaid cards in the US
A report has been released by the US Federal Reserve System titled “Report to the Congress on Government-Administered, General-Use Prepaid Cards“. It makes interesting reading.
In 2010, depository institutions provided cardholder use information for 90 federal, state, and local programs operating in 36 states. These programs employed 20 million cards, representing more than one billion transactions that were valued at $34.8 billion.
The report discusses the prevalence of use in terms of the number of general-use prepaid cards used in federal, state, and local government-administered payment programs as of year-end 2010, and in terms of the volume and value of transactions made using those cards during 2010.
Playing it safe with the prepaid card
Fancy a change? Okay, let’s narrow down the subject — we’re talking not about your lifestyle, but how you pay for it.
If you’ve grown tired of paying interest, late payment fees and a host of other card charges, you may want to consider using a prepaid card. This is an innovative way of getting a grip on spending because there’s no way you’re going to rack up additional costs for not settling your bills on time.
Full story: gulfnews : Playing it safe with the prepaid card.
Credit card debt could decline as people try to take control of finances
The number of people facing debt problems because of overspending on a credit card may decline as consumers are turning to debit and prepaid cards instead.
According to Kevin Harrington, managing director at Global Prepaid Exchange, which offers services to the industry, credit card usage is declining.
4 reasons everyone should consider a prepaid card
Prepaid credit cards are one of the biggest growth areas in financial services. While other countries have embraced the benefits of the everyday prepaid card for some years, it is only now that UK consumers are heading online in numbers to compare prepaid debit cards and credit cards.
There are a number of advantages to these types of card and our guide outlines four of the most convincing reasons why you should consider adding an everyday prepaid card to your wallet or purse.
Four reasons: 4 Reasons Everyone Should Consider an Everyday Prepaid Card
Prepaid cards more convenient for gap year money
In this quote below I was specifically talking about a specific product not all prepaid cards. Nevertheless, there are substantial benefits for most prepaid cards.
“The exciting thing from a traveller’s point of view is that, if you lose the card you can stop it, and you’re supplied with a free emergency card straight away,” he explained.
The bit about the AA is interesting but not something I was talking about.
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Prepaid cards could be useful for holidaymakers with debt problems
Well, it’s not quite what I said, but the thrust is pretty spot on:
Prepaid cards could be an option for those currently seeking debt advice who still wish to travel abroad this year.
That is because the consumer can put a certain amount of money on the card before they travel and will not be able to spend any more once it has been used up, helping them avoid debt problems.
Caxton FX, Kalixa and Virgin Money all have good products for tourists and overseas travellers.
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Posted in Marketing | Tags: Caxton FX, debt advice, Debt Fixers, Debt Management News, debt problems, holidaymakers, Kalixa, prepaid, prepaid cards, travel, Virgin Money | No Comments »