“A better reward means more people are willing to take you up on your offer,” says Young America spokesperson. “The key for retailers is to then continue to market to that customer to ask them to spend that reward back at their location.” Customers respond better to retail offers that include general-use prepaid cards rather…
$3 Reloadable Prepaid Cards
nFinanSe Inc. has launch its $3 Reloadable Prepaid Discover Cards at Memphis-Tenn.-based Fred’s Hometown Discount Stores, a regional chain of stores located in the Southeast and Midwest. The cards sell for just $3 and the reload fee and monthly maintenance fee are only $2.95, the ATM withdrawal fee is an industry low 99 cents, and…
Congress Passes ECO-Gift Card Act
Congress has passed the ECO-Gift CARD Act (H.R. 5502), which will avoid the destruction of more than 100 million plastic cards and ensure consumer access to these popular gifts during the busy holiday shopping season, The Network Branded Prepaid Card Association (NBPCA) reported. The act extends the Aug. 22, 2010 gift card implementation deadline,…
Marathon Oil Implements Visa ReadyLink
Visa Inc. and Marathon Oil Corporation are rolling out Visa ReadyLink—Visa’s prepaid reload network—in 4,000 Marathon Brand retail stations. To date the service has rolled out to approximately 2,000 locations, with the remainder expected to be active by the end of 2010. Marathon markets through approximately 4,600 branded locations in 18 states in the Midwest…
nFinanSe Announces Fee Reductions
nFinanSe Inc., a reloadable prepaid card provider, is reducing its fees to cardholders for ATM withdrawals and also for electronic bill pay transactions. The company believes that these reductions will encourage greater trial and usage of its Visa and Discover Reloadable Prepaid Cards and promote greater retention among cardholders. The company stated that it is…
Realizing Prepaid’s Potential
The major prepaid areas c-store retailers are going to want to watch over the next year are general purpose reloadable cards (GPR), both open and closed loop gift cards, and cards for digital media, game and ring tones. The economy especially has spurred the growth of GPR products. “You’re going to see more folks buying…
Targeting Customers with Prepaid
TOP PERFORMERS PaySpot (dba epay) Coinstar HONORABLE MENTIONS Incomm First Data Prepaid services are changing the way customers do business. Low-income families, unbanked and underbanked customers, students, those with poor credit and customers that spend much of their time on the road are among those taking advantage of prepaid debit cards and bill services that…
Prepaid Cards: The Sky’s the Limit
Prepaid cards have been used in the U.S. for about 20 years, and forward-thinking marketers continue finding new ways to use and promote them. This is a boon for convenience retailers, many of whom have been instrumental in growing the category. Prepaid cards were invented in Europe in the mid-70s when Italians found themselves short…
Prepaid
TOP PERFORMERS PaySpot Inc. Coinstar Inc. Verizon HONORABLE MENTIONS InComm AT&T With the economy bogged down in a recession and job losses at the highest levels in decades, spooked consumers are no doubt learning to live on less—less money, less credit and less frivolity. Prepaid solutions—whether it’s wireless sales, debit card transactions, gift cards and…