Abstract
Boston, MA. - April 9, 2009 - Global economic downturns appear to be
weighing heavily on the growth of credit and debit card markets worldwide,
while simultaneously fueling an increasing demand for prepaid cards. Prepaid
industry participants however, will discover unique challenges in growing
their business in the international markets.
In a new report, Challenges in Global Prepaid Card Markets: 2009,
Mercator Advisory Group explores key challenges presented in international
prepaid card markets and discusses strategies and best practices that
stakeholders in the prepaid card industry can leverage when evaluating
international markets. Topics discussed include legal and regulatory
challenges, market infrastructure and readiness, product design and selection,
as well as business models and strategies. Best practices and case studies are
discussed throughout the report to illustrate different approaches in handling
the challenges and tapping prepaid market opportunities in Europe, Asia-Pac,
and North America.
"Going after prepaid opportunities in the international market requires more
than just understanding of the macro-economies and regulatory environments in
each markets," comments Terry Xie, Director of Mercator Advisory Group' s
International Payments Advisory Service and principal analyst on the
report. "Fully understanding targeted customers, knowing where they are,
and what financial help they need, among others critical factors, are
pre-requisites for designing and implementing creative product plans to best
serve these customers. In addition, selecting the right sales, marketing, and
distribution channels while aligning the interests of different parties
involved in a prepaid business ecosystem are often key success factors in
serving prepaid customers around the world."
Highlights of the report include:
- Legal, regulatory, and cultural differences in international markets are
significant and represent challenges for international players.
- Out-of-the-box thinking is crucial as prepaid business is a
non-traditional market for the banks. This gives specialized program managers
the edge in competition.
- Innovations in providing prepaid solutions to identify and serve un-meet
financial needs in developing markets bring lots of potentials.
- The value chains of the prepaid card industry in different markets tend to
be complicated and demand careful considerations in the designing of a prepaid
business model. Getting different parties involved and building a business
ecosystem requires creative thinking and a willingness to cooperate.
- The design of prepaid card products need to be based in-depth
understanding of the market opportunities and consumer behavior. A successful
prepaid program will have features and functions that resonate with a large
group of targeted users with very specific needs.
This report contains 33 pages, 1 exhibit and 1 table.
Companies and programs mentioned in this report include: Visa,
MasterCard, White Eagle, NovoPayment, ItzCash, InComm, Tesco, Wal-Mart,
Discover, Metavante Technologies, Accor Services, Altair, Tuxedo Money, MyKad,
and Postepay (Poste Italiane).Members of Mercator Advisory Group have access
to these reports as well as the upcoming research for the year ahead,
presentations, analyst access and other membership benefits.
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