Branded Prepaid Card Trade Association Announced

TSYS Prepaid, is sponsoring the creation of an industry-wide prepaid card trade association. The trade association will help advance the rapidly evolving prepaid market, focusing primarily on branded cards using open networks such as Visa, MasterCard as well as EFT and ATM networks.

TSYS Prepaid has contributed both financial and non-financial resources to establish the new association. Anil D. Aggarwal, chief executive officer of TSYS Prepaid, will lead the establishment and development of the new organization, which will be independent of TSYS Prepaid. The creation of the new trade association is supported by organizations throughout the industry. The specific mission and scope of the association are currently being defined, and some objectives of the association will likely include: - Creating greater awareness of branded prepaid cards and promoting their benefits throughout the value chain - Helping members prosper in a changing business environment through education, networking, research, industry-feedback, and marketing services - Promoting industry-wide standards and best practices - Facilitating government and non-government action beneficial to the industry - Anticipating and facilitating change that ensures the long-term viability of the industry - Defining current market size and viable business cases - Clearly defining the domain and players and establishing viable distribution chains - Industry leaders, whose experience and expertise is vital to the success of the association, have indicated their initial support. - These leaders represent varied interests across the branded prepaid card spectrum.