Posts Tagged ‘prepaid mobile’

Adopting Mobile Wallets…What’s the Hold-up?

Monday, December 26th, 2011

Adopting new technologies as important as your wallet isn’t as easy as Google saying “NOW…GO!”.

Embracing a mobile wallet also isn’t just about spending on your credit cards, it’s about embracing technology to spend the money you already have, on prepaid cards like all those gift cards we received for the holidays. Fraud is also on the minds of consumers, bulk gift card givers, retailers, and merchants.

So, what will facilitate the use of mobile prepaid on the technology and consumer sides? Check out this series of interviews from the PREPAID EXPO with Jonathan Treiber of RevTrax.

Good News Growth for Prepaid and its Gift Card Segment

Wednesday, September 14th, 2011

Prepaid and gift cards sales are amplified with new activity as technology paves the way to better than expected growth. Mercator Advisory Group recently reported that all segments of closed-loop prepaid exceeded their previous forecasts for 2010. In-store gift cards were forecasted at 4% growth for 2010, but total load volume hit $84.6 billion, up 10% from $76.9 in 2009.

The B2B gift card market realizes much of this growth via gift card categories like digital-content (online games and social networking credit) and prepaid mobile; gift cards received more loads for these digital-content activities. Retailers are also doing a better job of integrating their gift cards with loyalty programs and other consumer promotions, which catches the attention of potential incentive and rewards buyers. “Loads on employee and partner incentive closed-loop cards increased 10% and loads on consumer-incentive cards also grew 10%”, states Digital Transactions in their Mercator report overview: Buoyed by Gift Cards, Closed-Loop Prepaid Grew Faster Than Expected in 2010

“On the whole, what we’re seeing is even the closed-loop market is showing some resilience in the face of the economy,” Jackson says. Consumers seem to be recognizing the true value of their gift cards, and “many retailers are doing a better job of integrating their gift cards with loyalty programs and other promotions, Jackson says. “They’re realizing that gift cards are not just a plastic version of paper gift certificates,” he says.

Source: Digital Transactions: Buoyed by Gift Cards, Closed-Loop Prepaid Grew Faster Than Expected in 2010

Click here for Mercator’s Eighth Annual Closed Loop Prepaid Market Assessment: Both Public and Private Sector Closed-Loop Loads Continue to Drive the Market Forward

 

Source: Mercator Advisory Group