Posts Tagged ‘prepaid’

Gearing Up for the 2014 APEX, All Payments Expo

Monday, February 17th, 2014

We are two weeks away from the All Payments Expo that will take place at The Mirage in Las Vegas this year. As regular attendees of the event, the GiftCard Partners team is looking forward to seeing both new and returning faces in the payments industry and speaking with new loyalty, incentive and payment companies who can use gift cards as part of their reward complement.

The APEX brings together Alternative Financial Services, Emerging Payments, Omnichannel Retail Strategies and Prepaid all in one location to focus on areas of growth and convergence in payments.

Check out more on the APEX here.

Already attending? We’d love to meet with you, call us today at 1-800-413-9101 to schedule an appointment.

Payment Wars and Loyalty Programs

Friday, April 20th, 2012

This  is quite possibly the most comprehensive infographic ever created around mobile payments. Our question for the prepaid industry, loyalty rewards program management companies, and gift card retailers and merchants:  Is our next loyalty program component in the area of mobile payments use?

Source: MostWanted via Prepaid Expo

Thank you MostWanted and Ptepaid Expo

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.

Prepaid Expo: Social Media Critical to Growth of Prepaid

Monday, July 11th, 2011

You are likely either a marketer or involved with the prepaid & gift card industry OR BOTH (like me). We love this video and we love how the Prepaid Expo is looking beyond traditional information sources and prepaid to bring us their take on the next generation of prepaid.

Social Media Critical to Growth of Prepaid via Prepaid Expo: Social Media Critical to Growth of Prepaid.

“In an age where 93% of all business marketing participates in social media and even brokers at financial firms are now harnessing the power and reach of social media for research, client communication, and to attract potential clients and prospects, it seems that social media is critical to the growth of Prepaid as well.

While compliance guidelines and regulations continue to worry many in the Prepaid industry, they are not alone. If you speak to any social media thought leader, they will tell you that many corporations face challenges in using social media, both externally and internally. However, it is possible to walk that fine line since social media isn’t going away. And when you look at its merit and power to reach and educate clients and consumers far and wide, especially the underbanked, the more it seems like a winning situation.”

Just look at these 2011 social media stats released last week

 

 

New Research Reveals Cards Drive Increased Spending, Visits and Willingness to Support Social Marketing

Thursday, May 5th, 2011

It isn’t new for us to hear that prepaid cards are great motivators and incentives. But a new loyalty and prepaid survey reveals just how much prepaid has affected consumer spending habits and long term adoption when used in the B2B space as incentives.

Here, we outline some of the most interesting tidbits and pair them with our market observations and viewpoints. Let us know your thoughts via the comments field.

“Prepaid cards are proving to be effective at motivating customers and employees to share positive feedback with their peers and social networks, among other behaviors.” Social media is proving to be a great way for customers to “Like” their favorite brands and retailers. In return, brands are using gift cards to reward this kind of loyalty and it starts becoming a way to attract new customers. We are also finding that prepaid and gift cards are offered over social media networks as part of workplace reward programs like nominating coworkers or teams for special accomplishments, redeeming “on-the-spot” rewards, and recognizing managers for good work and achievements.

On spending patterns; these study points speak for themselves:

• For consumers who had received a card as part of a contest or drawing, 43% ended up spending more than the value of the card.

• 28% of consumers with incomes of $100,000 or more said they would be willing to make a purchase of three times the value of a $25 card.

• While only 33% of respondents indicated they preferred a prepaid card instead of a check when receiving a rebate, that number climbed to more than 40% among consumers who had already received and used a prepaid card as part of an incentive or rebate offer. Stated simply, the more cards consumers receive, the more they want, as there was a direct relationship between experience with prepaid and preference towards the cards.

“Although some consumers may be receiving prepaid cards as an incentive for the first time, the survey showed that most are quick to cash in on the value of the card, as 7 in 10 used the card within three months.” At GCP, we’re seeing a shift in thinking about breakage. At one time, breakage was seen as a positive thing, however, we now look at it as a missed opportunity to gain happy customers, brand loyalty and the increased sales beyond the denomination of the gift card.

The report discussed here was prepared by Retail TouchPoints and commissioned by TSYS. Click here for the full Loyalty & Prepaid study findings & report.

Live from the Prepaid Expo – Government Update Panel Discussion

Monday, March 7th, 2011

“The Commonwealth of Virginia has started using prepaid cards to help get money into the hands of the people of who needed them. One reason was cost savings, savings of up to .60 cents an item, a typical direct expense on payment mechanisms.” Gift cards can help single parent families, the unemployed, the homeless and needy.

The panel discussion was today @ the Prepaid Expo in Orlando. Visit Live from the Prepaid Expo – Government Update to read the overview and learn about the challenges, the benefits to cardholders, how prepaid cards improve peoples’ lives, and more.