Thursday, April 12, 2012

NFC Mobile Payment News - Orange Quick Tap goes Android

News1 new result for NFC Mobile Payment
Orange Quick Tap goes Android
Mobile Entertainment
by Tim Green Preparing to take the NFC payments system to Google platform in the next few weeks. Quick Tap has been a relatively low profile mobile contactless project, even though it was one of the first to be rolled out commercially in Europe.
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Mobile Entertainment

Transportation is a Natural for NFC Mobile Payments

An NFC mobile phone (Nokia 6131 NFCmesso) inte...
An NFC mobile phone (Nokia 6131 NFCmesso) interacting with a smart poster Русский: Мобильный телефон NFC (Nokia 6131 NFCmesso) взаимодействует со Smart Poster (Photo credit: Wikipedia)
Blogs7 new results for NFC Mobile Payment
Transportation is a Natural for NFC Mobile Payments | Mobile ...
By Gary Kim
A new report:from Juniper Research predicts the number of tickets delivered to mobile phones worldwide will more than quadruple to 23 billion by 2016, compared with four billion tickets estimated to have been delivered during 2011.
Mobile Marketing & Technology
NFC: Now For Commuting by Robert Merkert
By Robert Merkert
The international research firm, Parks Associates, showcased the budding interest in NFC with its November 2011 report "Mobile Payment: Technologies and Business Models." The optimistic study found that nearly 50% of U.S. smartphone ...
Ask Identive
A World of Shows That Can't Exist Without NFC |
By traphael
NFC can facilitate lead capture, audience engagement, room access control and, of course, mobile payments. T.J. Raphael covers NFC nicely in the article "NFC Lets Shows 'Reach Out and Touch Someone'" (EXPO, March 2012). Those of ...
A Four Step Guide to EMV for Merchants – Part I | NFC, Mobile POS ...
By Chris Souther
Visa, MasterCard and Discover have all announced plans and programs to bring EMV to the US payments ecosystem. While these announcements don't tell us the exact timing of when EMV ...
NFC, Mobile POS, and Mobile Payments...
Nokia bets big on NFC, SAP bets big on HTML5 + the Instagram ...
By Douglas Soltys
AisleBuyer, a mobile payments solution provider that focuses on making in-store shopping on mobile devices easy for retailers to implement, was acquired by ecommerce heavyweight Intuit in a deal this week, the terms of which were not ...
Commerce Weekly: Bump taps mobile payments - O'Reilly Radar
By David Sims
Bump enlists PayPal's help in tapping mobile payments. Also, a columnist wonders when Apple will save the mobile payment space. (Commerce Weekly is produced as part of a partnership ... a PayPal-powered person-to-person payment service. Bump has been around for a few years, offering a clever way to share data that looks, to the casual user, as if it's transferring data locally from one device to another by bumping the two devices together. Is it using NFC? Infrared? Bluetooth?
O'Reilly Radar - Insight, analysis,...
Nokia unveils new Lumia 610 First NFC Windows Phone ...
By Kelly Levinsohn
On Wednesday, Nokia unveiled its new Lumia 610, the first mobile phone to take Near Field Communication (NFC) technology to Microsoft's Windows Phone platform. NFC technology drives instant payment systems and information sharing ...
Bandwidth Blog

Use Cases for NFC in non-payment scenarios

Picture from the Samsung Omnia 7 (also known a...
Picture from the Samsung Omnia 7 (also known as Samsung I8700) with Windows Phone 7 Homescreen. Deutsch: Bild des Samsung Omnia 7 (auch bekannt als Samsung I8700) mit Windows Phone 7 Homescreen. (Photo credit: Wikipedia)
News3 new results for NFC Mobile Payment
Nokia's Lumia 610 is the first NFC Windows Phone, launching with Visa ...
Washington Post
The technology will let you make mobile payments and interact with devices, such as Nokia's NFC Bluetooth headset, simply by tapping the phone. The Lumia 610 is Nokia's 8th NFC-enabled phone within the past two years. The phone isn'ta direct competitor ...
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Use Cases for NFC in non-payment scenarios. Where else will we see this ...
Blogger News Network (blog)
In the case of a mobile wallet application, those devices would be a mobile phone and a point of sale device at a checkout counter. NFC handsets are set to increase to about 80 million next year. Gartner estimates that that 50% of smartphones will have ...
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RFID News Roundup
RFID Journal
NXP enables mobile ticketing for smart mobile devices; new survey shows that consumers want NFC, but may not understand it; Tagit Solutions, Omni-ID partner on asset tracking for engineering and semiconductor companies; American Innovations unveils ...
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The rise of the MBA (and NFC) entrepreneur

MBA Master Business Administration
MBA Master Business Administration (Photo credit: Wikipedia)
News1 new result for "Near Field Communications"
The rise of the MBA entrepreneur
That advice, says Omar Seyal, a 2011 Wharton graduate and founder of near-field communications startup Tagstand, runs "against pretty much everything I would think." "That advice is traditional," says Mr. Ekeji. "And perhaps pragmatic in a way.
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Fun With NFC: Automating Simple Tasks With An NFC Capable Phone

N-Mark Logo for certified devices
N-Mark Logo for certified devices (Photo credit: Wikipedia)
News3 new results for NFC Mobile Payment
Fun With NFC: Automating Simple Tasks With An NFC Capable Phone
Android Police
First and foremost, NFC stands for near field communication. Basically, when you get your device close enough to something equipped with NFC - like a tag or a mobile payment center - it invokes an action on your device. Google Wallet is a perfect ...
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Quad/Graphics Produced <i>WIRED</i> Edition with NFC-Powered Ad
Printing Impressions (press release)
SUSSEX, WI—April 11, 2012—Quad/Graphics Inc. collaborated with WIRED to produce America's first mass-produced Near Field Communication (NFC) magazine ad. WIRED's April issue features an ad with an NFC tag that launches a mobile site when tapped by an ...
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Royal Canadian Mint to Trade Coins for Digital Currency "MintChip"
The idea of mobile payments is not new. Google released Google Wallet last year while VISA, PayPal and ISIS (which is a NFC venture between AT&T, Verizon Wireless and T-Mobile) have all offered mobile payment systems. However, MintChip will differ from ...
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Turkcell combines NFC and LBS services

News1 new result for NFC Mobile Payment

Mobile Europe
Turkcell has announced a collaboration with Akbank to merge its NFC-based Mobile Wallet Service, Turkcell Cep-T Cüzdan, with Location Based Services (LBS) such as special offers and promotions. Adding LBS to NFC enables Akbank card users, ...
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Mobile contactless payments to begin in Iceland with Valitor

News2 new results for "Near Field Communications"
Mobile contactless payments to begin in Iceland with Valitor
The project will utilise Orberthur Technologies' SIM card product, which offers integrated support for NFC (Near Field Communications) to power mobile contactless payments. The stakeholders started working with Iceland's key mobile network operators, ...
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Proxama showcases NFC marketing app on Nokia Lumia 610 NFC
Telecom Lead Europe: Proxama, a provider of near field communications (NFC) mobile commerce solutions, is demonstrating its TagCenter NFC marketing app on the new Nokia Lumia 610 NFC smartphone at WIMA. "We have been at the forefront of NFC ...
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NFC to help mobile marketing grow to new heights

News5 new results for NFC Mobile Payment
NFC and QR codes to help mobile marketing grow to new heights
QR Code Press
Attention is being drawn to technologies like NFC and QR codes, but some companies believe that these are nothing more than a novelty. A new report from Smith's Point Analytics, a mobile and wireless market research firm, suggests otherwise.
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QR Code Press
LG Viper 4G LTE from Sprint Launches on April 22; Pre-Order Begins Today
MarketWatch (press release)
OVERLAND PARK, Kan., & SAN DIEGO, Apr 12, 2012 (BUSINESS WIRE) -- Sprint (NYSE:S) and LG Mobile today announced Sunday, April 22, as the availability date for the highly anticipated LG Viper™ 4G LTE, one of the first smartphones to be available on the ...
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Emirates wedges national ID cards inside NFC phones
The memorandum of understanding, signed by the Emirates Identity Authority and Etisalat, sets out a plan for both parties to examine the feasibility of implementing the existing ID Card as an NFC application installed on a mobile phone, meaning that ...
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Mobile phone payments platform set to be delayed again by European regulators
The companies are seeking to form a new, separate business that would build a mobile payments platform which could also be used by others businesses. Concerns raised by smaller mobile operator Three, which was not included, are not thought, however, ...
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Mobile operators ignore advertising opportunity
Total Telecom
Finally, the rise of m-commerce will have an impact on the development of mobile advertising. "This year we're going to see a huge shift around NFC," and mobile wallet services, Childs predicted. While mobile operators might be showing little interest ...
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NFC Yes NFC That Speeding Train is Headed Your Way

NFC likestations inside the BlackBerry Stand a...
NFC likestations inside the BlackBerry Stand at the Mobile World Congress 2012 (Photo credit: Official BlackBerry Images)
Web1 new result for NFC Mobile Payment
NFC Yes NFC That Speeding Train is Headed Your Way | PYMNTScom
Perhaps the route to NFC adoption is the road less traveled Instead of driving to the local shopping mall to find mobile payments success let me suggest ...

PrepaYd Wireless, Inc. Hires Dylan Fernandes as Vice President of Wireless Business Development

NEWPORT BEACH, Calif.April 12, 2012 /PRNewswire/ -- PrepaYd Wireless, Inc., a wholly owned subsidiary of PrepaYd, Inc. (OTC PINK: PPDC), a Nationwide Wireless Service Provider, announced today it has hired Dylan Fernandes as Vice President of Wireless Business Development for PrepaYd Wireless. Mr. Fernandes will be responsible for building and managing PrepaYd Wireless National Distribution Agreements, new product development and deployment. He will spearhead the expansion of PrepaYd Wireless' distribution footprint for both handsets and airtime and oversee the on-boarding of new Dealers, Master Dealers, Regional and National Master Agents.
Mr. Fernandes comes to PrepaYd wireless from the Sprint Prepaid Group (Boost Mobile & Virgin Mobile) located in Irvine, CAwhere he served as National Account Manager. His responsibilities at Sprint included managing the relationships of five Technology Service Providers which includes inComm, Blackhawk, ePay, Emida and Coinstar, and in distributing SPG Airtime Replenishment products to several major National Retail Chains (e.g. Wal-Mart, Target, Best Buy, 7-Eleven, Circle K & RadioShack) as well as all major grocery chains resulting in over $2B in annual prepaid airtime revenue. Additionally Mr. Fernandes aided in the launch of various ground breaking prepaid airtime products, (Rechargeable Card Products, Open-Denomination POSA Cards, and RTR) and worked closely with Acquisition Sales Managers and National Account Managers as the prepaid airtime SME to effectively represent Sprint Prepaid Group with the National Retailers.
"We are very pleased to have Dylan join our team here at PrepaYd Wireless. His experience and relationships in the industry are of paramount experience to our company for retail distribution. PrepaYd Wireless is contracted already with Emida and is working on adding additional major service providers that Dylan managed during his tenure at Sprint. These types of relationships will play a major role in PrepaYd Wireless' success in the wireless industry," stated Josh Berman, Vice President and Founder of PrepaYd Wireless.
"I am excited to be joining the PrepaYd Wireless team and look forward to stamping the PrepaYd mark on Wireless Dealers and National Retail chains across the country. I am extremely motivated and anxious to help make PrepaYd Wireless a major success and quickly propel the brand to the next level within this ever growing Prepaid Industry," stated Dylan Fernandes, Vice President of Wireless Business Development of PrepaYd Wireless.
About PrepaYd Wireless
PrepaYd Wireless, Inc. is a Wireless Service Provider that offers mobile services to an estimated 110 million consumer demographic. Prepaid Wireless offers subscribers competitively-priced wireless service with its Y PAY MORE initiative and is an alternative to the traditional Postpaid Wireless Service Plans provided by major carriers. In addition, PrepaYd Wireless intends to make all of its available phones and wireless plans compatible for mobile financial services.
For more information about PrepaYd Wireless, Inc. visit

SmartMetric Wins on Major Points in Its Appeal in the Federal Appeals Court on Its Patent Dispute With Visa and MasterCard

SOURCE: SmartMetric, Inc.
April 12, 2012 09:20 ET

SmartMetric Patent Law Suit Against the Major Credit Card Companies

BUENOS AIRES, ARGENTINA--(Marketwire - Apr 12, 2012) - SmartMetric, Inc. (OTCBBSMME) -- The President & CEO of SmartMetric, Inc., Ms. C. Hendrick, the developer of "secured by Biometric's" Credit and Identity Cards, announced today that on April 11th, a Federal Appeals Court in Washington, DC handed down a ruling in respect of the SmartMetric Patent "474" in which the Appeal Court upheld the lower District Court's ruling that the SmartMetric Patent covers by definition the use of CONTACT Data Cards as well as dismissing at the same time the lower Court's restriction of the SmartMetric "474" Patent to only private networks. The Appeals Court did dismiss SmartMetric's appeal in respect of Contact-less Cards.
The vast majority of Credit and Debit Card transactions are Contact Card transactions while Contact-less card transactions represent a small percentage of all card transactions.
This means that the parties being sued for Patent infringement, namely Visa and MasterCard, have lost in their attempt to exclude ATM and Point of Sale Credit Card Machines that use contact Data Cards from the SmartMetric, Inc. patent.
Both Visa and MasterCard have announced and have begun to issue Data Card, Credit Cards, that is Credit Cards with EMV Chip Cards. These Credit and Debit Cards are often referred to as "Chip & Pin" Cards. All such Cards are now according to the Federal Appeals Court by definition to be in violation of the meanings as defined in the SmartMetric, Inc. "474" issued Patent.
Furthermore, such EMV or "Chip & Pin" Cards are also in violation of the SmartMetric Patent if they are even used on corporate intranets, internets, public and or private networks. This means such Credit Cards that are now standard issue in most parts of the world are in violation when used in ATMs, Retail Card Reading Machines, etc.
SmartMetric, Inc. welcomes the Federal Appeals Court Ruling and declares that it will now continue with its stayed hearing lawsuit against Visa & MasterCard and will seek all legal remedies at the company's disposal including but not limited to damages for Patent Violation as well as any other legal options open to the Company. SmartMetric's law suit for Patent infringement against the largest Credit Card companies in the World will now move forward based on the Federal Appeals Court Ruling of April 11th, 2012.
The following are excerpts from the Appeals Court Ruling:
"We therefore hold that the district court's construction of "insertion of said data card into said data card reader" is correct."
"Thus, this case does not present a claim differentiation concern. Moreover, we see no reason why a data card that communicates with a card reader using an embedded antenna cannot also be inserted into a data card reader to immediately trigger an application program. We therefore hold that the district court's construction of "insertion of said data card into said data card reader" is correct."
"We therefore hold that the district court's construction erroneously limits network service providers to those providing access to general-purpose public networks."
"The district court's judgment of non-infringement was independently supported by its construction of either term.
For the reasons explained above, the district court's construction of "plurality of network service providers" was erroneous; however, its construction of "insertion of said data card into said data card reader" was correct."
About SmartMetric:
The SmartMetric, Biometric Card Computer provides powerful computing with large memory capacity in a revolutionary size that has taken more than 10 years of research and development. Using the latest in sub micro technology electronics, the company has achieved a level of miniaturization that allows it to release a solution of portable computing power that, combined with SmartMetric's biometric fingerprint in-card scanning technology, is so revolutionary it will change the way business is done and information is handled across a broad range of industries.
For further information please go to the company's website:

Gemalto Named 2012 Computerworld Honors Laureate

April 12, 2012 08:00 AM Eastern Daylight Time 

Gemalto applies innovative IT practices to improve safety and security for healthcare industry

AUSTIN, Texas--()--Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, today announced that IDG’s Computerworld has recognized Gemalto’s healthcare project with Seattle Children’s Hospital as a 2012 Honors Laureate in Safety & Security. The annual award program honors organizations that use visionary applications of IT to promote and advance the public welfare, benefit society and change the world for the better.
“Gemalto’s solutions for strong authentication and access security allow the move to an electronic environment to be convenient, secure and conducive of better healthcare.”
Gemalto’s Protiva .NET solutions provide strong security that keeps medical information safe and protected, enabling best IT practices in a sensitive and changing healthcare environment.
With Gemalto’s technology the 8,700-plus Seattle Children’s Hospital staff replaced weak and static passwords with strong authentication and convenient contactless technology. Gemalto deployed at the Seattle Children’s Hospital a complete solution with technical support to allow authorized users access to the hospital servers, networks and VPNs.
“As the U.S. healthcare system becomes more and more digitalized, providers need to access electronic medical records in a way that is both secure and non-disruptive to their daily activities”,said Tom Flynn, Vice President of Online Authentication at Gemalto North America. “Gemalto’s solutions for strong authentication and access security allow the move to an electronic environment to be convenient, secure and conducive of better healthcare.”
There's no question technology plays a vital role in driving business forward. It ensures an organization's ability to compete, innovate, communicate and to thrive,” said John Amato, Vice President/Publisher of Computerworld. “What the Computerworld Honors Laureates so clearly demonstrate is technology's role in moving society forward. Computerworld acknowledges and applauds the outstanding work being done by individuals and organizations who have successfully used technology to improve the quality of our lives and that of future generations. Computerworld is proud to name the 2012 class of Laureates and celebrate their initiatives benefiting society through the innovative use of IT.”
The Computerworld Honors Program awards will be presented at the Gala Evening and Awards Ceremony on June 4, 2012, at the Andrew W. Mellon Auditorium in Washington, D.C. One finalist in each of the ten categories is then named a 21st Century Achievement award winner. For more information, please visit:
About Gemalto
Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security with 2011 annual revenues of €2 billion and more than 10,000 employees operating out of 74 offices and 14 Research & Development centers in 43 countries.

Visa, Women’s World Banking, Diamond Bank and EFInA Partner to Advance Financial Inclusion for Women in Nigeria

Old Visa logo.
Old Visa logo. (Photo credit: Wikipedia)

Partnership will deliver innovative savings program through traditional and mobile channels; help Nigerian government deliver on national financial inclusion goals
NEW YORK--()--Visa Inc. (NYSE:V), Women’s World Banking, Diamond Bank and Enhancing Financial Innovation & Access (EFInA) today announced that they are partnering to advance financial inclusion in Nigeria for underserved women and provide them an opportunity to become economically and socially empowered through access to a savings account.
“Around the world, there is a growing recognition that cash-based economies are a major impediment to advancing financial inclusion”
Today, nearly 77 percent of women in Nigeria are financially underserved.1 Research has shown that low-income women are good savers, but they need a safe and convenient way to save. Through this partnership, Visa and EFInA are providing the philanthropic funding for Women’s World Banking to support Diamond Bank in developing a commercially viable savings product tailored to the needs of underserved women in the country. The project will include both traditional bank branches and mobile phones as channels to deliver savings accounts.
“Without access to savings services, women are forced to keep cash at home or in informal savings mechanisms – both risky options that could result in theft or loss,” said Mary Ellen Iskenderian, president and CEO, Women’s World Banking. “Since women in developing countries are usually responsible for managing household budgets, gaining access to a safe way to save is often a critical stepping stone out of the cycle of poverty for the whole family.”
The Visa- and EFInA-backed project will involve three phases. First, Women’s World Banking will work with Diamond Bank to research and understand what type of savings services Nigerian women want and need to improve their financial lives. Second, the organizations will collaborate on designing and piloting a product that will be available at physical branches and on mobile phones. Finally, a savings product will be launched nationally after a successful pilot. In addition, financial education for women will be provided in partnership with local community organizations.
“Around the world, there is a growing recognition that cash-based economies are a major impediment to advancing financial inclusion,” said Joe Saunders, chairman and chief executive officer, Visa Inc. “Helping the underserved women of Nigeria move physical cash out from under mattresses and into formal savings accounts – combined with the potential of mobile phones to enable access to these accounts –will be a significant step toward financial inclusion in the market.”
Advancing financial inclusion has been a priority for the government of Nigeria. Last year, the Central Bank of Nigeria announced a commitment to reduce Nigeria’s financial exclusion rate from 46.3 percent to 20 percent by 2020. In addition, the country’s Cashless Lagos Project aims to reduce the use of cash and increase electronic transactions.
“We believe this is an opportunity to prove that meeting the needs of women in developing countries can be sustainable,” Iskenderian said. “The partners involved in this project are poised to build that business case, while also contributing to a real and lasting impact for women.”
About Women’s World Banking
Women’s World Banking (WWB) is the only global microfinance network focused on women and working to ensure that financial institutions provide services tailored to women’s needs that are affordable, convenient and sustainable to deliver. WWB is currently working with seven institutions in six countries to introduce savings or adapt existing savings products to meet the needs of women and girls.
WWB is a global network of 39 leading microfinance institutions from 27 countries. The network members are diverse in geography, size and structure but united in the firm belief that microfinance must remain committed to women as clients, innovators and leaders. By providing innovative approaches that we can replicate and scale we can prove that investing in women directly can be both profitable, and generate positive social benefits.
For more information, visit

U.S. Bank is First Bank to Offer Customers FreeMonee Gifts from National Retailers

MINNEAPOLIS & SAN MATEO, Calif.--()--U.S. Bank, in partnership with FreeMonee Network, is the first bank to offer FreeMonee Gifts – cash incentives from popular national merchants that are generated automatically and relevant to U.S. Bank Check Card customers.
“U.S. Bank is continually looking for ways to reward our loyal cardholders”
“U.S. Bank is continually looking for ways to reward our loyal cardholders,” said Clifford Cook, chief marketing officer for U.S. Bank Retail Payment Solutions. “FreeMonee Gifts are a simple and safe way for us to give free cash incentives to our cardholders to use at their favorite major retailers.”
U.S. Bank awards FreeMonee Gifts several times a month to select check card customers through an email from U.S. Bank that alerts them of their new, customized FreeMonee Gifts, which range from $2 to $50, depending on the merchant.
The FreeMonee Gifts are targeted to ensure they are relevant and valuable to customers. Cardholders redeem their gift by simply using their U.S. Bank Check Card when they shop at the specific retail store, website or restaurant named in their gift message. Once the purchase is completed, U.S. Bank automatically credits the cardholder’s account with the specified gift amount.
“FreeMonee is a powerful new way for banks to positively engage their customers and for merchants to drive incremental, profitable sales,” said Jim Taschetta, chief marketing officer for FreeMonee Network. “Consumers love receiving a cash gift that is directly linked to their card and can be spent at relevant merchants, with no strings attached. We believe FreeMonee Gifts will change the face of card loyalty programs. We are pleased to formally announce our expanded program with U.S. Bank to provide their customers with another reason to love their bank.”
About FreeMonee Network
FreeMonee ( is the world’s first and only gift network – connecting millions of credit and debit cardholders from the world’s largest financial institutions with national and local merchants. Merchants offer FreeMonee Gifts – cash incentives – to individual cardholders through their financial institutions. FreeMonee Gifts function like a gift card on an individual’s debit or credit card, allowing consumers to purchase anything they want with the designated merchant, with no strings attached. Through continued partnerships with top U.S. financial institutions, the company expects 50 million households to have access to FreeMonee Gifts by the end of 2012.

Javelin Study Finds Prepaid Cards Lure Underbanked and Gen Y Consumers

SAN FRANCISCO--()--Javelin Strategy & Research’s latest report - “Prepaid Cards and Products in 2012” – identifies that prepaid cards are particularly attractive to underserved segments—young consumers (notably Gen Y) and underbanked consumers (those who are not actively engaged in the use of traditional banking products) who want to build financial independence. Prepaid cards are held by one in six underbanked consumers and Gen Y, respectively.
“Providers offering integrated mobile tools are well positioned to deliver high value to young and underbanked prepaid card owners.”
The use of prepaid cards has increased, while ownership of other traditional financial products –including checking accounts, savings accounts, credit cards, and debit cards – has noticeably decreased. The growth of prepaid products has been propelled by a flurry of innovative features such as advanced online and mobile account management, rewards programs, and credit history development. Financial institutions (FIs) can leverage prepaid cards to establish relationships with young and underbanked consumers, transforming them into loyal customers who can become more profitable as they engage with additional banking products such as checking accounts, credit cards, and loans.
“Today’s prepaid features match and even surpass the features of many checking accounts, said Beth Robertson, CCM, Director of Payments Research at Javelin. “ Functionality that can enable consumers to manage their account using their mobile device or social media account, establish and build a history that can be used for credit-issuing, or enable person-to-person transfers provide high value to underserved consumers.”
The growth of the e-commerce and mobile markets has added to the value proposition of prepaid for underserved consumer segments. The online environment is a critical driver for underbanked consumers, as nearly three-fifths of this group regularly uses prepaid cards for online purchases. New mobile services are also generating high value for young and underbanked prepaid users who commonly have access to mobile devices, including smartphones.
“Mobile alerts, mobile rewards delivered via geolocation services, and mobile account management are some of the many features now incorporated into prepaid products," said Jim Van Dyke, President, Javelin. “Providers offering integrated mobile tools are well positioned to deliver high value to young and underbanked prepaid card owners.”
Javelin’s Prepaid Cards report explores how FIs can leverage the innovative features of prepaid cards to attract mobile, underbanked, and Gen Y consumers and transition them to loyal banking customers. The report is based on survey data collected online from more than 3,200 consumers.
Selected Key Report Findings – Prepaid Card
  • Prepaid cards are more commonly owned by underbanked and young consumers (18% respectively) versus a tenth of all consumers
  • Fifty-six percent of underbanked consumers report that they use their prepaid card for an online purchase, compared to 46% of all prepaid owners. .
  • Underbanked consumers report higher average prepaid reload amounts than do other consumers.
  • Rewards drive payment use: 53% of Gen Y and 47% of underbanked consumers report that rewards would encourage their adoption and use of prepaid cards.
Related Javelin Research:

Disqus for ePayment News