PIF Webinar: Global Prepaid Market Trends Part 2

24 February 2014 - Presented by Peter Sidenius, a Director at Edgar, Dunn & Company and member of the PIF Board of Directors, this webinar was the second in a two part series providing in-depth insights to the global prepaid landscape. Produced in association with Event Creation Network the 60 minute broadcast compared and contrasted key growth areas, dominant segments and provide market opportunity estimates for selected markets in North America, Asia Pacific and Africa with references to:

  • The key drivers of consumer, government and corporate prepaid programmes
  • The impact of the regulatory environment on prepaid market growth

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To view this webinar please click here

With thanks to our Regional Patron: TSYS®

Prepaid International Forum webinar to compare and contrast prepaid market trends in North America, Africa and Asia-Pacific

13 February, 2014 – International not-for-profit trade association, Prepaid International Forum (PIF) today announced the second in a series of two incisive webinars on prepaid market trends around the world. The webinar will be held on Monday, 24 February 2014 at 10.00 am GMT.

The complimentary one hour broadcast will provide insights on emerging trends and the potential for prepaid in North America, Africa and Asia Pacific. Presented by Peter Sidenius, a Director with global financial services and payments consulting firm, Edgar, Dunn & Company, the webinar will cover:

  • Key drivers of consumer, government and corporate prepaid programmes
  • The impact of the regulatory environment on prepaid market growth
  • Dominant segments and market opportunity estimates for selected regions

Title: Prepaid Market Trends: A Global Overview – Part 2
Date: Monday, 24 February 2014
Local Times: 10:00am GMT /2:00pm GST / 3.30pm IST
Duration: 1 hour
Speaker: Peter Sidenius, Director, Edgar, Dunn & Company

To register for this complimentary webinar please click here

The 2014 webinar series forms an integral part of PIF’s mandate to create an environment where prepaid products are understood and can thrive. By monitoring and sharing global market trends PIF aims to help members and the industry create compelling market propositions.

PIF has established operations in Europe and India and further international expansion is underway with the launch of PIF Middle East. For further information visit: http://prepaidforum.org/international/middle-east/

Amit Sethi, Co-Chairman of PIF India and Managing Director for Asia, Middle East and Africa at TSYS, added: “Understanding the key drivers, benefits and regulatory framework is key to accelerating the growth of Prepaid across these regions. Prepaid can be leveraged as a payment tool to improve people's lives, enable financial inclusion and enhance and simplify customer payment experiences around the globe. This follow-up webinar series 2 is just another example of PIF’s contribution to achieving these objectives.”

Prepaid Market Trends: A Global Overview – Part 1
A copy of the webinar presentation slides from the first webinar in this series can be downloaded here from the PIF website and from the TSYS website

About PIF
Prepaid International Forum (PIF) is a global not-for-profit trade association established to represent the interests of all parties involved in the issuance of prepaid products and services. It acts as principal point of liaison between the industry and regulators, government agencies, consumer bodies and the media. PIF is dedicated to the progression of the industry and acts as a catalyst for the development of sensible industry guidelines and codes of best practice. To learn more visit: www.prepaidforum.org

About TSYS (Regional Patron)
At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered Payments℠." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more please visit us at www.tsys.com
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If you would like more information about PIF, please contact Diane Brocklebank at +44 (0) 7736 971986 or email at diane.brocklebank@prepaidforum.org

Prepaid International Forum elects Craig James, CEO of Neopay, as Chairman

10 February, 2014– International not-for-profit trade association, Prepaid International Forum (PIF) today announced the appointment of Craig James as Chairman of the PIF Board of Directors.

Mr James succeeds Robert Courtneidge whose two year term of office has drawn to a close. Mr Courtneidge will continue to serve as a member of the PIF Board and Executive Committee.

Announcing Mr James’ appointment, Robert Courtneidge said: “I know Craig is passionate about the industry and the principles of PIF. His ambition to move prepaid into the mainstream is testament to his suitability for this very important role. I have every confidence that he will provide strong leadership to further the growth of PIF and its evolving activities. I wish him every success in his new role.”

PIF was established in 2007 to promote and shape the development of prepaid as a payment solution for consumers, corporates and governments. As a representative body for the industry PIF acts as principal point of liaison between the industry and government agencies, regulators, consumer bodies and the media. It is dedicated to the progression of prepaid and acts as a catalyst for the development of industry guidelines and codes of best practice. The overarching objective of PIF is to create an environment where prepaid products are understood and can thrive.

Craig James commented: “I am extremely proud to be given this opportunity to follow on from the excellent work and progress Robert Courtneidge has achieved as Chairman over the last two years. Regulatory change and other developments continue to test the industry. Under Robert’s guidance PIF has taken important steps to ensure our industry is represented and the practicalities of operating in this sector are taken into account in our dealings with policy-makers. As we expand our membership it is an essential part of PIF’s role to add the experience and expertise of our members to these debates.”

PIF members represent issuers of prepaid products, card schemes, processors and suppliers of services to the industry. To learn more about PIF please visit www.prepaidforum.org

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Media Contact:

Diane Brocklebank
Head of Member Relations
Prepaid International Forum
T: +44 (0) 7736 971986
T: diane.brocklebank@prepaidforum.org

Prepaid Industry Trade Body to Meet in Dubai

02 February 2014 - International not-for-profit trade association, Prepaid International Forum (PIF), today announced programme highlights for its Middle East Chapter meeting at the Dusit Thani Dubai on Wednesday, 12 February 2014.

The opportunity to position prepaid as a sustainable payment solution in key segments such as youth and the unbanked is rapidly emerging, as is the potential for prepaid to enhance financial inclusion. It is against this backdrop that PIF will provide meeting delegates with an in-depth look at the role of BIN Sponsors and programme managers. Titled “Business Models and BIN Sponsorship 101,” the presentation will provide a high-level description of business model options and case studies on successful programmes.

Discussion will also focus on how the industry can work together to promote and demonstrate the benefits of prepaid products and the positive role prepaid plays in the financial services space. The meeting will be chaired by Dr. Saleh I. Al-Furaih, Business Strategy Director, Al Rajhi Bank, and the opening address will be given by Robert Courtneidge, Chairman and Co-Founder of PIF.

Launched in 2013 under the patronage of TSYS®, PIF Middle East aims to help shape and promote the development of prepaid in the region. Founder members of the Chapter include Visa, Al Rajhi Bank and The Saudi Investment Bank. PIF Middle East is part of a global network for industry thought-leadership. Members meet regularly and have access to a range of member services and resources including white papers and industry guidance and informed perspective on key emerging global developments for prepaid.

PIF Chairman Robert Courtneidge said, “The opportunity for prepaid in the Middle East is vast and the need for a neutral body that works proactively to encourage and stimulate growth has never been stronger. I look forward to joining our Middle East Chapter colleagues in February to build on the steps we are taking to advance the industry.”

The PIF Middle East Chapter meeting will be held at the Dusit Thani Dubai from 09:00-14:00 on Wednesday, 12 February 2014.

To learn more about this meeting and becoming a member of PIF Middle East, please contact

Diane Brocklebank
Head of Member Relations
Prepaid International Forum (PIF)
E: diane.brocklebank@prepaidforum.org
T: +44 (0) 7736 971986

About PIF

Prepaid International Forum (PIF) is a global not-for-profit trade association established to represent the interests of all parties involved in the issuance of prepaid products and services. It acts as principal point of liaison between the industry and regulators, government agencies, consumer bodies and the media. PIF is dedicated to the progression of the industry and acts as a catalyst for the development of sensible industry guidelines and codes of best practice. To learn more please visit www.prepaidforum.org

About TSYS (Regional Patron)

At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered Payments SM." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.

TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more please visit us at www.tsys.com.

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If you would like more information about PIF, please contact Diane Brocklebank at +44 (0) 7736 971986 or email at diane.brocklebank@prepaidforum.org.   

Mulled wine, mistletoe and multi-channel gifting

13 December, 2013 - By Rachelle St Ledger, PrePay Solutions

This year, as never before, retailers are looking to capitalise on the multichannel shopping environment to make the most of the festive season. Christmas is a time of great importance to the entire retail establishment, but this year, claiming the maximum share of the market will be – in part – an exercise in technological prowess.

To put a figure on the importance of Christmas to retailers - they will spend £390 million on Christmas advertising in the last three months of 2013- roughly the same figure that was spent in 2012. Online advertising spend over this same timespan is set to increase by 11%, three times the increase between 2011 and 2012, according to the Advertising Association. This is clear evidence that online is quickly catching up to more traditional forms of retail, both as a marketplace and as a business imperative.

It is forecast that £2 billion pounds will be spent on gift cards and vouchers in the run up to Christmas according to the UK Gift Card and Voucher Association. To capitalise on this across the channels, major retailers have – almost universally – laboured to bring their online proposition in line with their store offering. The run-up to the festive season has seen the rise of digital gift cards, a focus on online only promotions and the appearance of apps and portals designed to give instant access to accounts and help customers keep track of online spending. The advantage of these new products is that they combine the convenience of a fully supported digital gifting option with increased ease of purchase. For example, virtual gift cards can be bought on Christmas Eve and still be ‘delivered’ anywhere in the country instantly. These virtual cards can then be spent online whenever and wherever the recipient wants, even on Christmas day.

In the build up to Christmas 2013, some of the biggest names in high street retail have launched their first digital gift cards. Big name brands such as Debenhams have chosen this year to match the quality of digital gifting with the in-store variety. This includes a move by Debenhams to launch a digital version of its B2B gift card, another sign that the virtual channel is influencing the entire retail spectrum.

However, the online extension of the gift card offering by key market players is only half the story. The biggest evidence of this change is in how these products are being treated. Retailers are going to great lengths to bring together the online, in-store and App-based offerings, integrating the three to create a genuine multi-channel experience. One of many examples of this is the recently launched Mothercare gift card. What makes this product unique to 2013 is that any gift card, bought online or in a shop, can be spent, monitored, or topped up across all the channels.

It’s important to remember however, that while the major retailers are tapping into a high demand for a digital retail offering, this is not simply a shift from a traditional environment to a digital one. Rather it is an extension of the market to fully encompass all channels. The latest research from the UK Gift Card and Voucher Association shows that half (50%) of consumers still prefer a physical gift card that they can hold in their hand to other forms of gift cards and vouchers. This proves that the demand for physical gift cards is not dwindling, but that interest in gifting across other channels has certainly arrived.

This year will see a ‘multi-channel Christmas’, not simply because more stores have launched digital and mobile gift cards and increased their spend on online promotion, but because the retailers’ attitudes have changed. Across the whole sector there is a renewed enthusiasm and understanding of the importance of social, mobile and online to the consumer. The market is moving quickly in that direction and the build up to Christmas 2013 will almost certainly be a multi-channel tipping point. In past years, having an online or multi-channel offering was an advantage, a bonus for the consumer. This year, it is a requirement.

PIF webinar poll shows remittances predicted to be a key driver of prepaid market growth in the Middle East

15 November, 2013 - Industry Trade Body Compares and Contrasts Prepaid Market Trends in Key Markets

Prepaid International Forum webinar poll shows remittances predicted to be a key driver of prepaid market growth in the Middle East

International not-for-profit trade association, Prepaid International Forum (PIF) today announced highlights from the first in a series of two incisive webinars on prepaid market trends around the world.

The series is designed to provide insights on emerging trends and opportunities for prepaid solutions with Peter Sidenius, a Director with global financial services and payments consulting firm, Edgar, Dunn & Company, leading the sessions entitled: “Prepaid Market Trends: A Global Overview.

The first live broadcast compared factors affecting the adoption and growth of prepaid payment solutions in the Middle East, Europe and South America, with references to dominant programmes and prepaid market opportunity estimates.

As well as highlighting market similarities the webinar revealed that for some markets the prepaid space is very unique. Payroll represents the largest segment for prepaid in the Middle East and is a key area of growth in Latin America where 65%1 of the population lack access to financial services. This was compared to Germany, where payroll must be paid via a bank account making prepaid propositions for this segment superfluous.

The webinar also highlighted Government-sponsored programmes as strong drivers of prepaid growth across all markets. Prepaid, as a simple form of bank account, is seen as means of improving levels of financial inclusion as governments seek to drive adoption of cashless payments across all segments of society, while at the same time being an effective means of disbursing government payments. In Brazil, the government uses prepaid to pay welfare benefits through the Bolsa Familia social services programme to 12 million households. The segment is poised for significant growth in multiple markets and is predicted to be an important pillar in prepaid market development in the Middle East.

A poll of participants during the broadcast revealed that remittances presented a major opportunity for prepaid card providers in the Middle East. Outbound and inbound remittances in the Middle East is estimated to be worth $340 billion and growing at 6% CAGR2

Commenting on the poll results, Peter Sidenius said, “A high proportion of money is being transferred through unregulated channels so there is a real opportunity for providers to develop robust and sustainable prepaid programmes. Harnessing this segment could drive prepaid growth in the region further”

The launch of the PIF webinar series in 2013 forms an integral part of the association’s mandate to create an environment where prepaid products are understood and can thrive. By monitoring and sharing global market trends PIF aims to help members and the industry create compelling market propositions. PIF has established operations in Europe and India and further international expansion is planned with the official launch of PIF Middle East in Dubai on November 14, 2013. For further information visit: http://prepaidforum.org/international/middle-east/

Amit Sethi, Co-Chairman of PIF India and Managing Director for Asia, Middle East and Africa at TSYS, added ‘Sharing market insights, best practices, successful business models, and regulatory developments along with promoting the understanding of successful examples of prepaid usage to improve people’s lives, create new business opportunities, enable financial inclusion and simplify the customer experience is at the heart of the not-for-profit Prepaid International Forum. These insightful webinars and the momentum the PIF has gathered as it continues to extend its work and footprint around the globe is impressive. TSYS is proud to be associated with and a patron of such a forum.’

A copy of the webinar presentations slides can be downloaded here from the PIF website and TSYS website

1 MasterCard, 2012 Global Prepaid Sizing Study 2Gulf News

About PIF

Prepaid International Forum (PIF) is a global not-for-profit trade association established to represent the interests of all parties involved in the issuance of prepaid products and services. It acts as principal point of liaison between the industry and regulators, government agencies, consumer bodies and the media. PIF is dedicated to the progression of the industry and acts as a catalyst for the development of sensible industry guidelines and codes of best practice.

About TSYS (Regional Patron)

At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered Payments℠." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.

TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website, for more please visit us at www.tsys.com.

# # #

If you would like more information about PIF, please contact Diane Brocklebank at +44 (0) 7736 971986 or email at diane.brocklebank@prepaidforum.org.

Prepaid International Forum Announces Launch of PIF Middle East Chapter

10 November, 2013 - Industry trade body names Dr. Saleh I. Al-Furaih as its first PIF Middle East Chairman ahead of its launch.

International not-for-profit trade association Prepaid International Forum (PIF) today announced that the official launch meeting of its Middle East Chapter will take place on 14 November in Dubai and that founder members of the new chapter include Visa, Al Rajhi Bank and The Saudi Investment Bank. Dr Saleh I. Al-Furaih, Head of Consumer Asset Business at Al Rajhi Bank has been appointed as Chairman of the new chapter.

Launched under the patronage of TSYS, PIF Middle East aims to bring together the prepaid ecosystem in the region to educate and influence policymakers and consumers to remove misperceptions and grow understanding of prepaid payment solutions.

The Middle East is a key market for prepaid, with segments including mobile, payroll cards and general purpose cards poised for significant growth. The potential for prepaid continues to gather pace and the opportunity across different customer segments is vast. Among them is the opportunity for prepaid to be used as an alternative low-cost solution for servicing the region’s large expatriate community in place of traditional banking services. The rapidly emerging affluent segment is another key target for the expansion of innovative prepaid solutions. It is against this backdrop that PIF has decided to create a regional chapter for the region.

Dr Saleh I. Al-Furaih, Chairman of PIF Middle East, said, “The potential for prepaid in the Middle East is huge. New opportunities to position prepaid as sustainable payment solution in key segments such as youth and the unbanked are rapidly emerging, as is the potential for prepaid to enhance financial inclusion. To fully realise the potential for prepaid in the region the industry must work to educate and garner the support of regulators, end-users and the media. The launch of PIF in the Middle East represents an important step in building a prepaid community. As an influential guiding force for the industry PIF will provide a framework to help drive and shape the development of prepaid in the Middle East”.

The new PIF Middle East Chapter will address the key areas of interest to all involved in prepaid in the region through highly focused and interactive working groups covering the areas of consumer education, public relations and industry best practice. Through PIF members and directors in Europe and India and its connections with sister organisations in the US and Europe, PIF Middle East is committed to helping the industry overcome the challenges of launching and managing successful prepaid programmes

Malek Mroueh from TSYS and Co-Chairman of PIF Middle East , added, “We are really excited to be a continued part of the growth of the Prepaid International Forum (PIF) and  to see prepaid programmes being leveraged to their maximum advantage in the footsteps of the successful launches of the European and Indian PIF chapters that we have supported as Patron. We have been supporting prepaid cards since the mid-90’s and our recent acquisition of NetSpend in the US means we have the breadth and depth of experience that will be able to help support the development of the PIF objectives across all regions”.

The new chapter will become part of global network for industry thought-leadership. PIF Middle East members will have access to a range of member services and resources including white papers and industry guidance and informed perspective on key emerging global developments for prepaid.

PIF Chairman Robert Courtneidge welcomed the announcement. He said, “The global potential for prepaid continues to grow and the need for an international trade body that can encourage and stimulate growth has never been stronger. PIF warmly welcomes the founder members of PIF Middle East and looks forward to sharing and recommending best practices and codes of conduct for consumers, businesses and all organisations operating in the prepaid arena in the Middle East”.

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Notes to Editors

About PIF

Prepaid International Forum (PIF) is a global not-for-profit trade association established to represent the interests of all parties involved in the issuance of prepaid products and services. It acts as principal point of liaison between the industry and regulators, government agencies, consumer bodies and the media. PIF is dedicated to the progression of the industry and acts as a catalyst for the development of sensible industry guidelines and codes of best practice. To learn more visit www.prepaidforum.org

About TSYS (Regional Patron)

At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered Payments℠." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.

TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website, for more please visit us at www.tsys.com.

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If you would like more information about PIF Middle East, please contact Diane Brocklebank on +44 (0) 7736 971986 or at diane.brocklebank@prepaidforum.org

Prepaid Awards and Emerging Payment Awards Winners 2013

02 October 2013, Lancaster London, UK

Prepaid Awards and Emerging Payment Awards Winners 2013

Emerging Payments Awards

01. Best Mobile Application (sponsored by Raphaels Bank)
Clutch

02. Best Wallet (sponsored by First Data)
O2 Money

03. Best Virtual Programme (sponsored by PrePay Solutions )
Ukash

04. Best Payment Technological Innovation (sponsored by Ixaris)
Turkcell Wallet

05. Leading Emerging Payments Service Provider (sponsored by Emerging Payments Exchange)
Global Identity Verification

06. Leading Emerging Payments Organisation (sponsored by Wave Crest)
PayLife Bank

07. Leading Emerging Payments Industry Contributor (sponsored by MasterCard)
iZettle

10. Best Digital Gifting Programme (sponsored by MPayMe)

11. Best Peer to Peer Programme (sponsored by FIS)
BBM Money by Monitise

13. Best Contactless Solution (sponsored by InComm)
Turkcell Wallet Contactless Life

Prepaid Awards UK

14. Best Prepaid Gift Programme UK (sponsored by Ukash)
Marks and Spencer Spring/Summer 2013 Gift Card Range

15. Best Prepaid Consumer Programme UK (sponsored by Incentive and Motivation)
Post Office Travel Money Card Plus

16. Best Prepaid Marketing Campaign UK (sponsored by PrePay Solutions)
One4all Text Santa Marketing Campaign

17. Best Prepaid Innovation UK (sponsored by epay)
CorporatePay Virtual Prepaid Card

18. Best Prepaid Service Provider UK (sponsored by Ceridian SVS)
PrePay Solutions

19. Leading Prepaid Organisation UK (sponsored by American Express)
Raphaels Bank

20. Best Use of Prepaid in Incentive Marketing UK (sponsored by Raphaels Bank)
Starbucks Card eGift Programme

21. Leading Prepaid Retailer UK (sponsored by American Express)
Debenhams Retail PLC

23. Best Prepaid Card or Packaging Design UK (sponsored by Gx)
Debenhams Beauty Giftcards

Global Prepaid Awards

24. Best Global Prepaid Gift Programme (sponsored by Payment Card Technologies)
Walmart Closed Loop Gift Card Program

25. Best Global Prepaid Consumer Programme (sponsored by FIS)
Real Time Automated Discount Management

26. Best Global Corporate/Government Prepaid Programme (sponsored by InComm)
City of Toronto Instant Issue City Services Benefits Program

27. Best Global Prepaid Innovation (sponsored by MasterCard)
ESSO Price Protection

28. Leading Global Prepaid Organisation (sponsored by Ukash)
Wirecard Card Solutions Ltd

29. Leading Global Prepaid Industry Contributor (sponsored by Ceridian SVS)
Mike Smith

30. Best Global Prepaid Card or Packaging Design (sponsored by First Data)
Tim Horton’s Roll Up The Rim PrePaid Card