Prepaid Card Providers Targeting Latin Population
Fecha Viernes, septiembre 24 @ 09:56:14
Tema Pago Electrónico :: e-Payment
| Sep 24 2004 : The Latin population in the US comprises 14 per cent of the total population, and with half of this group lacking a credit card, prepaid card service providers are issuing ATM/debit cards to this market. Prepaid cards have a strong business case in the US, with the Pelorus Group predicting 38.7 million prepaid debit cards to be issued in 2007, up from 6.3 million in 2002. Dollar value for convenience and debit cards is also projected to grow to USD 80 billion in 2007, up from USD 38 billion in 2002, and service providers are in negotiations with operators of retail outlets, to facilitate the reload of their cards at those premises.
Direct Response Financial Services is one provider specifically targeting the Latin market, and is offering its Personal Advantage Media Prepaid MasterCard debit card which can be reloaded at ATMs or retailers. In a separate venture, another prepaid card provider, Direct Card Services is working with PromoConnect USA (PCUSA) to sell stored-value cards to the Hispanic population in the US. PCUSA has expertise in the US prepaid market after issuing stored-value debit cards on behalf of a major US financial institution, for which it quadrupled stored-value card sales in the year before teaming with Direct Card Services.
Yet another stored-value prepaid card provider, eViva Card, is aiming to distribute 5 to 10 million ATM / debit cards to US-based Latinos within the next 12 months. EViva is pitching the card as a product that facilitates cross-border remittances, ATM transactions at Visa Plus/Star Nework ATMs, PIN-secured debit purchases and cashback at retailers, while also acting as an international phone card. Users of the eViva Cash Card can reload the card by depositing bills at a dedicated Top-Up machine, or at Coinstar Center machines in high-traffic retail locations under a model that enables retailers to share in revenue streams.
| Este artículo proviene de Kalysis Community
https://kalysis.com/content
El URL de esta nota es:
https://kalysis.com/content/article.php?sid=580
English Translation |
|
|