MasterCard Stored Value Forum Focuses on Multi-Trillion Dollar Global Prepaid Card Opportunity

Thursday 26 May 2005 23:32 CET | News

MasterCard International today kicked off its third annual Stored Value Forum, a two-day event for the companys financial institution customers, alliance processors and third party marketing partners. The Forum brings together the industrys most influential players to explore ways to maximize participation in what is estimated to be a multi-trillion dollar global prepaid card opportunity by 2008.

MasterCard, which provides a complete array of prepaid solutions, has led the way in this rapidly emerging payment sector. MasterCard has achieved a number of stored value firsts, including an employee incentive card in 1996, healthcare benefit and payroll cards in 1997, an association branded gift card in 1998, as well as a suite of corporate prepaid products known as Workplace Solutions in 2002. In 2004, MasterCard and its strategic partners launched nearly 800 new prepaid programs in the United States designed to meet the payment needs of consumers, businesses, and the public sector. This growth has continued in 2005, with gross dollar volume on MasterCard prepaid programs increasing 34 percent year-to-date, compared with the same period last year. Ruth Ann Marshall, president of the Americas, MasterCard International, delivered the Stored Value Forums opening address before an audience of approximately 300 payment industry professionals. Attendees at the MasterCard Stored Value Forum participate in a variety of breakout sessions led by MasterCard payments professionals, providing information on tactics, strategies, and MasterCard prepaid products. A sampling of breakout meetings includes: -- The Convergence of Financial Services and Healthcare: Emerging Trends -- Security, Risk Management & Brand Standards: Best Practices -- The Public Sector: Distributing Funds to People in Need -- Credit-building: Leveraging Prepaid to Cross-sell Financial Relationships -- Latin America: Regional Market Opportunities

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce