Prepaid solutions provide great opportunities for businesses and governments to improve their operations and manage their payments by allow them to accept and process payments without the need to involve third party (such as a bank or payment solution provider, like Visa and MasterCard).
During the most recent Cartes & ID 2010 conference, Tony Craddock, CEO of Global Prepaid Exchange and Prepaid Awards, spoke about the important role of the prepaid solutions saying that "You should think about prepaid differently. It is not just a part of the payment industry but rather a capability to solve problems for customers, corporates, and governments". Carddock demonstrated how businesses can use prepaid solutions as an innovative way to improve their business operations rather than just as an add-on service.
Prepaid industry represents currently about € 400 Billion and the average load on the prepaid card from Visa and MaterCard is about $50. Jean-Louis Meyer, Financial/Telecom Segment Marketing Manager at Datacard Group, indicated that customers are interested in customizing their prepaid cards by adding their own photos and the technology today allows businesses to issue their prepaid cards using different channels and in different ways (using vending machines, over the internet, in stores or shops, … etc). Meyer explained how many businesses are currently using social media to connect with their customers and sell their prepaid cards.
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