The Prepaid Press - January 2009 - (Page 22)

PAYMENTS & PROCESSING Dec. 2008 / Jan. 2009 - 22 MiCash Announces New Prepaid Debit Card Offers Unique Remittance Capability WASHINGTON, DC (December 4, 2008) One financial services company has introduced universal prepaid debit cards that they say gives new meaning to their “universal” designation. MiCash Inc., a prepaid card marketer and money service business, has launched a prepaid debit card that offers cardholders the ability to make card-to-card or card-to-cash worldwide money transfers. MiCash provides general purpose, prepaid debit card services, such as payroll cards and general purpose reloadable prepaid cards, with remittance capability. In addition, MiCash offers MiCash-branded cards and partners with national retailers to offer co-branded prepaid card programs. “This unique money remittance service provides immigrants with an affordable, safe and convenient way to send money to family in another country,” says Daniel Levinas, President and CEO of MiCash Inc. For card-to-cash transfers, MiCash cardholders set up friends and family as recipients, and call customer service or log onto an online account to make a transfer. For a flat fee, users can transfer from their card to a recipient for pick up at any one of more than 12,000 Bancomer Transfer Services’ locations in Mexico, South and Central America, India, the Philippines, China and other locations. “MiCash strives to make a positive difference in the lives of people who either do not have access to, or choose not to use, mainstream financial services,” says Levinas. “With the current economic situation in the United States, reloadable prepaid cards offer tremendous value to credit constrained consumers. MiCash prepaid cards offer cardholders convenience, value and a way to budget for expenses.” In addition to international money transfers, MiCash prepaid cards offer unbanked or underserved consumers access to many of the same amenities that bank account holders receive with their accounts: FDIC-insured funds, cash withdrawals at millions of ATMs worldwide, the ability to pay bills more easily, mobile banking, free direct deposit and other conveniences. Soruce: MiCash Inc. (www.micashcard.com) Prepaid Market Forecasts to 2011 Mercator Advisory Group Predicts Open and Closed Loop Growth BOSTON, MA (November 22, 2008) Mercator Advisory Group has released a new research report on the Prepaid Industry. This latest report, the final of three reports that thoroughly benchmark the entire Prepaid Industry, provides a forecast of growth for all 33 Prepaid Market Segments, which includes the load volumes and cards issued. The report finds that the total for load volume across all 33 Prepaid Market Segments, including all Open and Closed Solutions, will reach $362.3 Billion by 2011. The Closed Loop market will represent $237.7 Billion of that total while Network Branded solutions will represent more than half of the entire market at $124.6 Billion. While many segments within both the Open Loop and Closed Loop markets have seen lower growth rates in 2007, the fact remains that growth for Network Branded solutions continue to outpace closed loop by a significant amount. In 2006, Network Branded solutions were estimated to grow at a Compound Annual Growth Rate (CAGR) of 53%, but with the slowdown seen in this 2007 Benchmark the projected CAGR is now 42%. The Closed Loop market has also seen reduced growth and is now projected to grow at a CAGR of 7.94%, down from an estimated 8.1% in 2006. Note however, that these growth rates only represent the average across all of the Network Branded and Closed Loop market segments, and averages can be very deceiving. Two Open Loop segments continue to grow at triple digit rates, and one Closed Loop segment saw a growth rate for more than 36%. Tim Sloane, Director of the Debit Service for Mercator Advisory Group and the author of this report indicates that the accuracy of the forecast will depend to a large extent on how the current economic situation evolves and how consumer behavior shifts relative to Gift Cards: “This research has tried to be practical about the likely performance of Prepaid solutions in 2008 and then takes a light hand through 2009 to 2011. While many prepaid market segments, such as all gift card related items, will see declines in growth rates due to the economy, others, including State Unemployment and Food Stamps are likely to see a regrettable increase.” Highlights of this report include: • In last year’s Benchmark Mercator Advisory Group projected that Network Branded solutions would reach $181.6 Billion in 2010. Based on the slower growth witnessed in 2007, Mercator Advisory Group now predicts Network Branded solutions will reach $101.4 Billion in 2010 and $124.6 Billion in 2011. • The forecast for Closed Loop solutions has also been lowered. Last year’s forecast predicted load of $239.9B for 2010. This is now reduced to $221B in 2010 growing to $237.7 B in 2011. • The Total Prepaid Market size in 2011 is forecast at $362.3, Billion, a Compound Annual Growth Rate of 13.5%, down from the prediction of 17%.last year. • Mercator Advisory Group predicts that Network Branded solutions will continue to increase their penetration of market segments at the expense of Closed Loop solutions. • The current recession in the US will impact many prepaid markets, some negatively, some positively, and others in ways that can’t currently be predicted. Mercator Advisory Group provides its evaluation on a segment by segment basis in this report. Source: Mercator Advisory Group (www.mercatoradvisorygroup.com) Monitise and eCommLink Partner To Bring Mobile Money Solutions to Prepaid Debit Card Holders LAS VEGAS, NV and PROVIDENCE, RI (November 18, 2008) eCommLink, Inc., a value added prepaid processor, and Monitise Americas, LLC, mobile money provider, are working together to jointly offer mobile money applications to the prepaid debit card industry. “The mobile phone is the perfect way for people to manage their prepaid card accounts and eCommLink’s leadership and innovation makes it the perfect partner for us as we expand in this industry,” stated Lisa Stanton, Chief Executive Officer, Monitise Americas. Together, the companies will market prepaid debit cards that are closely integrated with a cardholder’s mobile phone. This will allow customers to manage their cards, reload their accounts, pay bills, transfer money to another person and make international remittances directly from the mobile handset, regardless of the carrier or financial institution involved. “We have been at the forefront of the mobilization of the prepaid debit industry since the beginning. As such, we are committed to providing our clients access to best in class mobile solutions and Monitise definitely fits that bill,” stated T. Jack Williams, Chief Executive Officer, eCommLink. Working together, the companies will provide white label solutions to eCommLink’s program management and banking clients. Clients can select from either a SMS based interface or a simple to use, easy to download mobile application to allow cardholders to manage their prepaid accounts and perform transactions on the go. Source: eCommLink, Inc. (www.ecommlink.com) Monitise Americas (www.monitiseamericas.com) Platamovil Selects PhoenixSoft’s Cirrus Softswitch Cirrus to Enable International Calling and Prepaid Banking purchases. “Platamovil is a perfect example of a customer who is leveraging our technology for more than long distance switching,” said Paul Amick, PhoenixSoft’s co-founder. “Their ability to look outside the box to develop unique applications results in real business benefits. Not only do they provide international long distance calling services, but they’ve created a prepaid credit card product available throughout Colombia and Venezuela. They’re also working on additional mobile banking applications. We thoroughly enjoy working with such an innovative customer.” In addition to processing transactions for Electronic Payment accounts, Platamovil will also offer mobile banking services for regular banks. These services include establishing mobile point-of-sale networks, processing debit and credit cards, managing transactions for deposit and loan accounts, etc. The company is also working with licensed cellular operators on expanding the features and capabilities for wireless applications, all in conjunction with the PhoenixSoft Cirrus Softswitch. Source: PhoenixSoft (www.phoenixsoft.com) PHOENIX, AZ (November 20, 2008) PhoenixSoft, Inc., a provider of next-generation communications platforms for converged networks, has announced that Platamovil International N.V. has deployed its Cirrus Softswitch platform for international calling as well as prepaid banking applications. Platamovil is incorporated in Colombia and Venezuela and provides prepaid financial services by electronic means. It uses the Cirrus Softswitch and database functionality to process electronic banking transactions. For example, a user applies for a prepaid, Platamovilbranded credit card, such as Visa. The merchant activates the card for the desired amount. The PhoenixSoft platform creates the account in the database, stores the information and tracks all activity. Through a convenient online interface, users can recharge their accounts for additional http://www.micashcard.com http://www.mercatoradvisorygroup.com http://www.ecommlink.com http://www.monitiseamericas.com http://www.prepaidmarkets.com http://www.phoenixsoft.com

Table of Contents Feed for the Digital Edition of The Prepaid Press - January 2009

The Prepaid Press - January 2009 Economic Crisis Sharpens Focus on Stored Value Cards Industry Veterans Weigh In on 2009 Prepaid Opportunities Contents From the Publisher: Ready for Change? The Prepaid Press Thanks its Editorial Advisory Board Regulatory Rundown 2008 Milestones Prepaid Wireless Providers Capitalize on Economic Downturn Prepaid Telecom in Brief APCC Services Settles With Calling Card Providers Boost Mobile Offers All-in-One Prepaid Package SonarTel Prepaid Customers Can Use Accounts in More Countries BillSoft Selected by Integra Telecom Pingo Adds PC “SoftPhone” Calling kajeet, the Cell Phone Service for Kids, Wins Award Prepaid Wireless Roundup The State of Prepaid Technology: Wholesalers & White Label Services New Millennium Releases Wireless Survey Results 5 Minutes With Paul Amick, EVP & Co-Founder, PhoenixSoft Millions Could Cut Cell Phone Bills in Half New Virgin Poll Reveals Buying Habits The Legal Line BioPay Expands Offering for Underbanked IDT to Sell European Prepaid Payment Business iPayStation Launches Network for Distributor Stored Value Solutions Appoints New VP Cellular South Offers Mobile Banking for Regions Bank Javelin Research: Processor Important in Prepaid MiCash Announces New Prepaid Debit Card Monitise and eCommLink Partner Platamovil Selects PhoenixSoft’s Cirrus Softswitch Prepaid Market Forecasts to 2011 Payments & Processing in Brief Prepaid 101: Gift Cards SCA’s PrizeSuite Enables Promotions MT&L Offers Gift Card Removal and Destruction Heartland Payment Systems Acquires Chockstone Amex and Rymax Offer Gift Cards TransCard Announces Corporate Gift Card Website Gift Cards & Promotions in Brief Our Advertisers Contact Us

The Prepaid Press - January 2009

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