the corporate landscape-- voices of corporate customers and identifying the driver and areas of...
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The Corporate Landscape--Voices of Corporate Customers and Identifying the Drivers and Areas for Growth in these Markets
Chris Byrd President and COO Evolution 1
Thursday, June 27, 2013Track One—Evolution and Innovation
Deirdre Ives Managing DirectorCiti Prepaid Services
Michael McSheaVice President, Product Management Contact Solutions
John BarbellaSenior Vice PresidentBancorp Payment Solutions
© 2013 Network Branded Prepaid Card Association
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Thank You To Our Sponsors
Presenting Sponsors
Supporting Sponsor Welcoming Reception Sponsor
Associate Sponsors
Founding Sponsors
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Areas of Focus
• Prepaid and Corporate Payments Today• Stakeholder Value Proposition• Opportunities for Growth
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Prepaid and Corporate Payments Today
• Prepaid has been a staple of corporate payments since the prepaid industry’s inception.
• Prepaid cards have been used extensively for:- Payroll - Government/Welfare benefits- Incentives - Healthcare and Insurance
• In 2010, 65.8% or $99.7 Billion was spent on Government or Corporate sponsored prepaid cards.
- Source: 2013 MasterCard Commissioned sizing study
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Prepaid and Corporate Payments Today
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Stakeholder Value Proposition
• Consumer– Immediate access to
funds– No need or expense to
cash check– More convenient, secure
and flexible way to access funds
– Easy reconciliation of accounts/benefits
• Employer– Improved payment
reconciliation and controls– Enhances manual
processes– Material cost savings – Transfers
liability/responsibility of payment claim to issuer
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Other Benefits
• Few or no fees for cardholder• Zero liability protection• High customer satisfaction• Escheat handled by issuer• Cards are corporately funded
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Opportunities for GrowthBusiness to Consumer
• MasterCard estimates a 17.79% CAGR through 2017.
• Mercator projects a 21% CAGR through 2015.• Markets currently being served.
- Incentives - Rewards - Disbursement - Loyalty - Payroll - Claims - Benefits - Refunds
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Opportunities for GrowthBusiness to Business
• Visa projects that B2B payments for insurance claims will be 5 times B2C payments.
• New prepaid payment methods to consider:- Virtual payments to service providers- Accounts payable solutions - Government purchasing - Claims payments, etc.
- Source: Visa Inc. U.S. Prepaid Industry Segment Study, 2011
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Q & A