Table of Contents
- CHAPTER 1 INTRODUCTION
- Scope
- Who is the target reader?
- How to use this report
- CHAPTER 2 THE PURPOSE OF PREPAID CARDS
- While prepaid payment cards are a new concept in Asia-Pacific they have
their place in the payment card landscape
- Prepaid cards have unique features to other payment cards in
Asia-Pacific
- Prepaid cards are also known as 'pay-before' or 'stored value' cards.
- Prepaid cards operate as either a smart chip-based card or a
host-based cards
- Prepaid cards fit into Asia-Pacific's payment card landscape
- Prepaid cards have been introduced in Asia-Pacific although
awareness of the product has some way to go
- Prepaid cards are very suitable to specific customer groups which in
some cases have not yet been targeted
- Young consumers, particularly teenagers have historically been
overlooked because of their short-term unprofitability; prepaid cards
can change this
- A prepaid card issuer can target corporate and government client
groups because they will appeal to its security and tracking features
- Immigrants can have difficulty opening a bank account but still want
the functionality of credit and debit cards
- Unbanked customers are a potential market for prepaid cards because
they do not have credit or debit cards
- Issuers can use prepaid cards to target adults who do not own a
credit card
- Prepaid cards offer credit card facilities to consumers with bad or
no credit history
- Prepaid card trials conducted by Visa and MasterCard had a positive
response Asia-Pacific
- Visa and MasterCard chose Australia to trial prepaid card technology
- The concept of prepaid cards has been trialed with success in
Asia-Pacific
- CHAPTER 3 A COMPARISON OF PREPAID CARDS
- The few prepaid cards available in Asia-Pacific are limited in
comparison to those available in other markets
- Visa's 'International Travel' card is China's main prepaid card yet
can only be used outside of the country
- The Visa International Travel Card is available from selected
Chinese banks although it can only be used outside China
- Maybank introduced Singapore's first prepaid card and it has recently
launched versions that target a specific consumer interests
- Maybank offers a generic prepaid card
- Both of Maybank's prepaid cards are commendable although they suffer
from a small distribution network
- AmBank's recently launched 'NexG' MasterCard targets young Malaysians
- Ambank's 'NexG' prepaid MasterCard is a card targeting the needs of
young people in Malaysia
- AmBank has also launched a NexG card that targets football fans with
Limited Edition AmBank NexG 2006 FIFA World Cup prepaid MasterCard
- AmBank's NexG card is an innovative prepaid card that targets
specific consumer groups
- Australia's 'Bopo' card uses innovative technology that enhances its
appeal to consumers
- The Bopo card is likely to be popular if it exploits its advantages
- The 'Visa Buxx' card targets teenagers in the US
- Visa Buxx targets teenagers with a long term view to profitability
- The Visa Buxx card successfully targets teenagers although it needs
to convince parents as well
- The 'Postepay' initially targeted all Italian consumers and is now
focusing on consumer interest groups
- Postepay has been very successful as a generic prepaid card
- Postepay has been successful because of its wide distribution
network and is now introducing different versions of its card to target
different consumer segments
- Microsoft has partnered with Postepay to offer a card targeting Xbox
consumers
- The recently launched BBVA MasterCard Tarjetas Recarga Expresas
prepaid card specifically targets corporate and government client groups
in Spain
- BBVA's card can be used in corporate and business environments for
incentives, gifts or payroll solutions
- BBVA's card is the first corporate prepaid card and it is expected
to be popular in other countries
- CHAPTER 4 THE FUTURE OF PREPAID CARDS IN ASIA-PACIFIC
- Going forward, issuers of prepaid cards in Asia-Pacific should focus on
the needs of consumer groups that are presently unmet
- Teenagers are well suited to prepaid cards and while they can be
unprofitable in the short-term, this changes when they become adults
- Understanding the teenage demographic is important before deciding
on a marketing package
- Initial marketing strategies could include targeting specific
schools or suburbs
- In terms of countries in Asia-Pacific there is significant potential
for prepaid cards targetting the teenage market
- Prepaid cards better suit the needs of the corporate and government
sectors than traditional corporate credit card
- Given that Asia-Pacific holds some of the most business focused
cities in the world, corporate prepaid cards have huge potential
- The travel cash market is also a future growth area
- CHAPTER 5 APPENDIX
- Supplementary data
- Definitions
- Affinity cards
- AAGR
- Balances outstanding
- Branded prepaid cards
- CAGR
- Co-branded cards
- Private-label cards
- Research methodology
- Primary research
- Secondary research
- Future readings
- Relevant links
- Datamonitor's custom research capabilities
- Asia-Pacific SPP writing team
- How to contact experts in your industry
- List of Tables
- Table 1: The Visa Buxx fees have been criticised as being too high
- Table 2: Youths and their aspirational ages
- Table 3: Population split by age group in 2004
- List of Figures
- Figure 1: Prepaid cards have their place in the current payment card
landscape
- Figure 2: Malaysia had the highest proportion of individuals aged 14
and under at 32.8%, followed by South Korea with 25.4%, Singapore with
20.2% and Hong Kong with 14.8%
- Figure 3: Customer segmentation is beginning to take off in Malaysia
as Ambank's NexG prepaid MasterCard targets football fans
- Figure 4: The features of AmBank's NexG Prepaid MasterCard meet the
needs of Malaysia's youth market
- Figure 5: The 'Bopo' card is expected to fill a gap in the Australian
cards market
- Figure 6: Visa Buxx targets the teenage market
- Figure 7: The Visa Buxx card can teach young consumers to budget
- Figure 8: Postepay is a relatively cheap prepaid card
- Figure 9: BBVA's corporate prepaid card is likely to be adopted in
other countries as it fulfills a need
- Figure 10 Datamonitor's core consulting capabilities
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