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Prepaid and Gift Cards in the U.S., 4th Edition

Notice
This publication has been discontinued on June 25, 2014.

Abstract

Prepaid card usage trends and debit-driven regulatory change suggest that the prepaid industry has the wind at its back. Indeed, Packaged Facts estimates that prepaid card payment volume will rise 22.4% in 2012 to $247.5 billion, up from $202.2 billion in 2011, on the strength of almost 10 billion transactions.

However, continued growth will meet with a combination of challenges and opportunities: How will the industry approach consumers' banking dissatisfaction & distrust issues? Can it strike a balance between checking account profits and emerging migration to prepaid programs? How can it increase prepaid cardholder retention, navigate lingering overdraft issues, harness card platforms to best meet the needs of the unbanked and underbanked, and leverage younger consumers' financial positions while building relationships with them? In what ways will it seek to increase product transparency while reducing fees and simplifying fee structures?

Packaged Facts' report on Prepaid and Gift Cards in the U.S. takes up these issues and many more, covering trends related to general purpose reloadable prepaid cards, government benefit cards, payroll cards, and gift cards, with a focus on general purpose reloadable prepaid cards. The report includes:

  • An overview of recent regulations reshaping not only the prepaid debit card landscape but also broader consumer banking revenue generation strategies
  • Prepaid card brand analysis, including Chase Liquid, American Express Prepaid, the Walmart MoneyCard, RushCard, H&R Block Emerald Card, and Direct Express
  • Prepaid debit card usage and growth within the context of the consumer payments universe
  • Prepaid card and gift card usage demographic trends
  • The degree to which consumers use their prepaid cards and how prepaid engagement relates to the use of other payment cards. We also assess relationships between consumer banking product ownership and payment card use, including prepaid card use.
  • Prepaid debit card users' usage motivations (including convenience, relationship to cash, creditworthiness, and spending control); consumer financial self-perceptions; and the relationship between those self-perceptions and payment card use and usage mix.
  • Gift card purchasing trends and spending demographic trends
  • Prepaid- and broader debit-driven performance and strategies at card associations MasterCard and Visa; prepaid card issuers and program managers American Express, Green Dot and NetSpend; and prepaid distribution network Blackhawk.

Table of Contents

Chapter 1 Executive Summary

  • Scope and Methodology
    • Scope of Report
    • Report Methodology
    • Market size and forecast
    • Consumer survey methodology
  • Report Summary
  • Prepaid card payment and transaction volume: market size & forecast
    • Prepaid complementing overall debit transaction and volume growth
    • Prepaid cards for unbanked and underbanked and beyond
    • Government prepaid card volume and value
    • Gift Cards
    • Positive holiday spending trend
    • Purchase spend trends
  • Regulatory Analysis and Impact
    • Good news
    • But tighter regulation still strongly advocated
    • "The very name 'prepaid card' should mean what it says."
  • Durbin Amendment and CARD Act
    • Exceptions related to prepaid cards and gift cards
    • Debit loss is prepaid gain
    • Reg E dormancy, inactivity and service fees
    • Consumer Financial Protection Bureau seeks new standards
  • Prepaid Challenges and Opportunities
    • Banking dissatisfaction & distrust
    • But frustration cuts both ways
    • Banking distrust among Gen Y, lower-income adults and Hispanics grows
    • Banking institutions shedding low-profit accounts: prepaid in the wings
    • Significant public policy issues in play?
    • Case in Point: JPMorgan Chase
    • Cross-selling the name of the game
    • If you're not going to generate revenue for us, don't expect a free ride
    • We believe this sets the stage for Chase Liquid prepaid
    • Increasing retention: churn/abandonment rates continue to challenge industry
    • Direct deposit as retention driver
    • Unbanked and underbanked opportunity
    • Reaching youth
    • Fee reduction and simplification
    • Cost analysis: prepaid really a bargain?
    • Fee reductions on the way
    • Overdraft control
    • Green Dot maintenance fees comprise 90% of overdrawn balances
    • Disclosure issues
    • Is new fee box the answer?
  • Prepaid Card Brand Analysis
    • American Express Prepaid Card
    • Fee analysis
    • Green Dot Prepaid Cards
    • Fee analysis
    • Direct Express
    • A model card?
  • Prepaid Cards in Context: The Consumer Banking & Payments Universe
  • Credit, Debit, Prepaid & Gift Card Usage Trends: 2010-2012
  • Prepaid Cards & the Banking Relationship
  • Prepaid Cardholder Financial Attitudes & Usage Rationales
  • Gift Card Usage & Spending Trends
  • Company Prepaid Strategies

Chapter 2 Introduction and Overview

  • Introduction
    • Origins
    • Segmentation
      • Closed-loop gift cards
      • Open-loop gift cards
      • Closed-loop prepaid cards
      • Open-loop general purpose prepaid debit cards
      • Open-loop gift cards
      • These cards are funded by Payroll cards
    • Fees
    • Advantages
    • Drawbacks
    • Protection
  • Other terms
    • Demand deposit account (DDA)
    • Card issuer
    • Electronic Funds Transfer (EFT)
    • Merchant acquirer
    • Interchange fee
    • Signature-based (offline) transactions
    • PIN-based (online) transactions
  • Competitive landscape
    • Competitive factors

Chapter 3 Market Size and Forecast

  • Introduction
  • Prepaid card payment and transaction volume: market size & forecast
    • Table 3-1 U.S. Prepaid Card Market Size and Forecast: 2006-2014
    • Payment volume growth
    • Graph 3-1 U.S. Prepaid Card Payment Volume: Market Size and Forecast: 2009-2015
    • Transaction volume growth
    • Graph 3-2 U.S. Prepaid Card Transaction Volume: Market Size and Forecast: 2009-2015
    • 2010 Federal Reserve Payments Study
  • Prepaid complementing overall debit transaction and volume growth
    • Many arguments in favor of continued debit growth
    • $14 billion in interchange revenue still not small change
    • But consumers may migrate to alternative payments if debit card cost goes up
  • Prepaid cards for unbanked and underbanked
  • Government Prepaid Card Segment
    • Electronic benefit transfer (EBT)
    • Cardholder fee prohibitions
    • Federal programs
    • Electronic mandate to phasing paper checks and juice up Direct Express
  • State Programs
    • Prepaid debit significant to state programs
    • California rollout
  • Government Prepaid Card Volume, Transaction & Fee Analysis
    • Government prepaid card volume and value
    • Table 3-2 Volume and Value of Government Prepaid Card Purchase Transactions, 2010
    • Government prepaid card interchange analysis
    • Table 3-3 Government Prepaid Card Interchange Fee Revenue Received By Issuers, 2010
    • Government prepaid card cardholder fees
    • Average 2010 cardholder fee: $9.69 per card
    • Table 3-4 Government Prepaid Card Fee Analysis, 2010
  • Gift Cards
  • While the hype has moved elsewhere, gift cards are doing just fine
    • Table 3-5 Gift Card Purchase Intention, Card Number and Value: 2007-2011
  • Gift card purchase share segmentation
    • Table 3-6 U.S. Adult Gift Card Purchases: Dollar Value by Segment, 2010-2012
    • Purchase share leadership goes to . . .
    • Table 3-7 U.S. Adult Gift Card Purchases: Dollar Value Share by Segment, 2010-2012

Chapter 4 Regulatory Analysis and Impact

  • Introduction
  • More regulatory protections, please
  • Taking the debate to the U.S. Senate
    • Good news
    • But tighter regulation still strongly advocated
  • CARD Act
  • The Durbin Amendment & debit interchange
    • Final rule sets interchange rate
    • Issuer exception
    • Prepaid exception
    • CARD Act exclusion: prepaid card vs. gift card
  • Network exclusivity prohibition and routing provisions
    • No prepaid exception
  • Woe to debit interchange!
    • Debit interchange loss analysis
    • The American Express exception
    • Debit loss is prepaid gain
  • Regulation E
    • What is it?
    • Consumer overdraft protection
    • Federal benefits electronic funds transfer
    • Dormancy, inactivity and service fees
  • Consumer Financial Protection Bureau seeks new standards
    • Reg E in play
    • Bureau of Consumer Financial Protection
    • What is it and what is it supposed to do?
    • What is the scope of its authority?
    • Broad rule-making authority
    • Broad enforcement authority
  • Prepaid review underway
    • Unauthorized transactions and limited liability protection
    • Overdraft practices, saving account usage and credit repair
    • Prepaid Access Final Rule

Chapter 5 Prepaid Challenges and Opportunities

  • Introduction
  • Banking dissatisfaction & distrust
    • Consumer banking frustration
    • Bank Transfer Day
    • But frustration cuts both ways
    • Customer service complaints
    • Banking distrust among Gen Y, lower-income adults and Hispanics grows
    • Table 5-1 Consumer Trust in Giving Money to Banks among Younger Adults, Low-Income Adults and Hispanics, 2008-2011
  • Banking institutions shedding low-profit accounts: prepaid in the wings
    • Significant public policy issues in play?
  • Case in Point: JPMorgan Chase
    • History of success with government prepaid
    • Consumer banking powerhouse
    • Growing branches, online, mobile and next-generation ATMs
    • Card and payment processing growth
    • New upscale credit cards, new partners
  • Consumer banking regulation response to drive prepaid growth
    • Cross-selling the name of the game
    • If you're not going to generate revenue for us, don't expect a free ride
    • We believe this sets the stage for Chase Liquid prepaid
    • Table 5-2 JPMorgan Chase: Banking Services That Do Not Carry an "Explicit" Charge, 2012
    • Changing banking economics necessitate a shift in strategy
    • Table 5-3 JPMorgan Chase Consumer & Business Banking Revenue Growth Trends, 2005-2011
    • Proportionally less revenue generated by those with less at the bank
    • Table 5-4 Percent reduction in per HH variable contribution by segment, 2011
    • Threshold for profitability: $100,000 in deposits & investments?
    • Table 5-5 JPMorgan Chase Post-Regulation Revenue Composition by Wealth Segment
    • More wealth, more revenue
    • Table 5-6 JPMorgan Chase Distribution of households by wealth segment
    • Because the relationship is deeper
    • Table 5-7 JPMorgan Chase Products per household by wealth segment (industry)
  • Migration underway at other major banks
  • Increasing retention
    • High churn/abandonment rates continue to challenge industry
    • Direct deposit as retention driver
    • Supported by mobile technology
    • Unbanked and underbanked opportunity
    • Who are the unbanked?
    • Who are the underbanked?
  • Unbanked and underbanked prepaid card use
    • Table 5-8 Unbanked Households' Use of General Spending Cards and Payroll Cards
    • Table 5-9 Underbanked Households' Use of General Spending Cards and Payroll Cards
  • Reaching youth
    • CARD Act forecloses campus credit card marketing
    • Campus opportunity
    • A slew of heavy-hitting prepaid entrants
    • Campus ID cards
    • U.S. Bancorp's Wolfpack One Card
    • Fee-friendly
  • Fee reduction and simplification
    • Random pricing
    • Cost analysis: prepaid really a bargain?
    • Fee reductions on the way
  • Overdraft control
  • An overdraft dilemma?
    • Green Dot maintenance fees comprise 90% of overdrawn balances
    • Late posting also results in overdrafts
  • Increasing transparency and education
    • Disclosure issues
    • Most consumers found to be clueless about prepaid card fees
    • And they take issues with prepaid card company disclosure obligations
    • Is new fee box the answer?
    • Simple, clear, and straightforward language
    • Format and visual design
    • Tradeoff between simplicity and comprehensiveness
    • Pure disclosure versus encouraging financial capability
    • Clear and consistent placement

Chapter 6 Prepaid Card Brand Analysis

  • Introduction
  • General Purpose Reloadable Prepaid Cards
  • American Express Prepaid Card
    • Research and promotions
    • Reloadable
    • Benefits
    • Fee analysis
    • Table 6-1 American Express Prepaid Card Fee Structure, 2012
    • American Express for Target Card
    • American Express PASS Card
    • American Express Campus Edition Prepaid Card
    • Analysis
  • Chase Liquid
    • Nuts and bolts
    • Fee analysis
    • Security
    • Table 6-2 Chase Liquid Fee Comparison, 2012
  • Green Dot Prepaid Cards
    • Summary analysis
    • Nuts and bolts
    • Green Dot VIP provides fee reduction options
    • Reload options
    • Fee analysis
    • Table 6-3 Green Dot Prepaid Debit Card Fee Analysis, 2012
    • AARP Foundation Prepaid MasterCard
  • RushCard
    • Marketing
    • Differentiating features
    • Promotions
    • Reload options
    • Security
    • Technology
    • Competition
    • Fee analysis: choose your plan
    • Table 6-4 RushCard Fee Analysis, 2012
  • Walmart Money Card
    • Easy to get
    • Easy to use
    • Fee analysis
    • Table 6-5 Walmart MoneyCard Fee Analysis, 2012
    • Multiple reloading options
    • Security
    • Loopholes
    • Differentiating features
  • General Purpose Reloadable Prepaid Cards: Tax Preparation
  • H&R Block Emerald Card
    • Reload options
    • Security
    • Notable features and benefits
    • Limitations
    • Fee analysis
    • Table 9-1 H&R Block Prepaid Debit Card Fee Analysis, 2012
    • ATM fees
    • Table 6-6 H&R Block Prepaid Debit Card Fee Analysis, 2012
  • Intuit Refund Card
    • Add money
    • Rewards
    • Fee analysis
    • Table 6-7 Intuit Refund Card Prepaid Visa Debit Card Fee Analysis, 2012
    • Intuit GoPayment Card
  • Government Prepaid Cards
  • Direct Express
    • A model card?
    • Table 6-8 Direct Express Prepaid Debit Card Fee Analysis, 2012
  • MyAccountCard pilot
    • Table 6-9 MyAccountCard Visa Prepaid Debit Card Fee Analysis, 2012
    • Security
    • Reload options
    • Withdrawal limitations
    • Concerns
    • Sad ending

Chapter 7 Prepaid Cards in Context: The Consumer Banking & Payments Universe

  • Introduction and summary analysis
  • The Consumer Banking Relationship
  • Checking/savings account remain consumer banking cornerstone
    • Alternative payment accounts
    • Share of unbanked
    • Technology-based access
    • Table 7-1 Current Ownership of Deposit Accounts and Account Access Technologies, 2008-2009
    • Branch banking most common form of bank account access
    • Table 7-2 Incidence of Bank Account Access and Other Practices, Consumers vs. Adopters, 2009
  • Payment Instrument Analysis
    • Card and electronic payment adoption declines
    • Penetration gap between debit and credit widens
    • Prepaid cards used by one-third
    • Contactless payments
    • Table 7-3 Current Adoption of Payment Instruments, by Instrument Features, 2008-2009
  • What's in your wallet?
    • Wallet stays the same size, but cards stay in wallet longer
    • Debit wallet footprint underscores importance as relationship touch point
    • More than two prepaid cards in wallet
    • Table 7-4 Number of Adopted Bank Accounts and Payment Cards, 2008-2009
  • Paper or plastic?
    • Paper instrument usage remains universal
    • Annual prepaid usage into double digits
    • Table 7-5 Incidence Use of Payment Instruments in a Typical Month, by Type of Instrument, 2008-2009
    • Card transaction share falls below 50%
    • Cash and check gain share!
    • Uptick in use of cash continues past the financial crisis
    • Prepaid card transactions a drop in the pool
    • And dwarfed by debit
    • Table 7-6 Usage Frequency and Share of Payment Instruments in a Typical Month, by Type of Instrument, 2008-2009
    • General purpose prepaid card penetration = specific purpose card penetration
    • Better to receive than to buy for self?
    • Table 7-7 Prepaid Card Usage & Cards per User, by Instrument Features, 2008-2009
  • Prepaid reload activity
    • Table 7-8 Prepaid Card Reloadings, 2008-2009
  • Consumer's comparative perceptions of prepaid card cost
    • Prepaid cost improves but still lags other payment instruments
    • Check, cash and debit far more likely to be viewed as low cost
    • Table 7-9 Assessments of Payment Instruments, by Degree of Cost, 2008-2009

Chapter 8 Credit, Debit, Prepaid & Gift Card Usage Trends: 2010-2012

  • Introduction and summary analysis
  • Credit, Debit, Prepaid & Gift Card Usage Trends
    • 2012 prepaid usage penetration reaches 14%
    • Visa brand predominates
    • Gift card penetration stabilizes
    • Table 8-1 Consumer Payment Card Usage Trending, by Type: 2010-2012
  • Gender analysis
    • Prepaid growth driven disproportionately by female adopters
    • Women also drive gift card purchases
    • Table 8-2 Payment Card Usage Trending, by Type: Males v. Females, 2010-2012
  • Age analysis
    • Prepaid growth trends among 18-24s solid, but lag the average
    • Gift card usage declines
    • Table 8-3 Consumer Payment Card Usage Trending among 18-24s, by Type: 2010-2012
  • Hispanic/Latino Analysis
    • Hispanic prepaid and gift card uptake analysis
    • Table 8-4 Consumer Payment Card Usage Trending among Hispanics, by Type: 2010-2012
  • HH-Income Analysis
    • Prepaid cards proportionately more relevant to low-income consumers
    • Gift card penetration trails average
    • Table 8-5 Payment Card Usage Trending, Low-HH Income Consumers, by Type: 2010-2012
    • Low/mid-income usage trends
    • Table 8-6 Payment Card Usage Trending, Low/Mid-HH Income Consumers, by Type: 2010-2012
    • Mid- to high-HH income consumers show preference for AMEX prepaid
    • Table 8-7 Payment Card Usage Trending, Mid-HH Income Consumers, by Type: 2010-2012
    • HH income consumers show strong preference for AMEX prepaid
    • Table 8-8 Payment Card Usage Trending, High-HH Income Consumers, by Type: 2010-2012

Chapter 9 Prepaid Cards & the Banking Relationship

  • Introduction
  • A note on payment card engagement
    • American Express and Discover credit card engagement matched by prepaid
    • But a dearth of highly engaged users
    • Table 9-1 Card Payment Instrument Engagement & High-Frequency Engagement, by Card Type, 2012
  • Summary analysis: consumer prepaid card engagement
    • Table 9-2 Prepaid Card Engagement and High Engagement, by Demographic, 2012
  • Prepaid card penetration dwarfed by debit and credit card penetration
    • Table 9-3 Prepaid, Debit and Credit Card Usage Penetration, 2012
    • Validated by proprietary results
    • Table 9-4 Prepaid Card Users: Payment Card Cross-Usage, 2012
  • Prepaid cardholders: prepaid, debit & credit use by engagement degree
    • Prepaid card users tend to use a variety of payment card instruments
    • High-frequency prepaid card engagement
    • Table 9-5 Prepaid Card Users: Payment Card Cross-Usage, 2012
  • Debit cardholders: prepaid, debit & credit use by engagement degree
    • Debit card users far less apt to use prepaid
    • Table 9-6 Debit Card Users: Payment Card Cross-Usage, 2012
  • Debit & credit cardholders: prepaid engagement analysis
    • Engaged debit and credit card users: prepaid usage patterns
    • Table 9-7 Card Payment Instrument Users: Prepaid Card Usage and High-Frequency Prepaid Card Use, 2012
    • Highly engaged debit and credit card users: prepaid usage patterns
    • Table 9-8 High-Frequency Card Payment Instrument Users: Prepaid Card Usage and High-Frequency Prepaid Card Use, 2012
  • Prepaid users: cards in wallet
    • Most prepaid card holders have debit or credit card
    • Unbanked and uncreditworthy only a sliver of users?
    • Table 9-9 Debit Card and Credit Card Mix among Prepaid Users, 2012
  • The consumer banking relationship
    • Half of us have checking; 20% have no consumer banking relationship
    • Table 9-10 Consumer Banking and Loan Product Penetration, 2012
  • Banking relationship not a prepaid card usage driver
    • Credit card ownership
    • Checking account holders
    • Table 9-11 Payment Card Use & Usage Mix: Consumer Banking Product Usage Correlation, 2012
  • Consumer loan connection to payment card mix
    • Credit, debit and prepaid use each tied to consumer loan possession
    • But using prepaid card with another payment card strengthens loan use
    • Table 9-12 Payment Card Use & Usage Mix: Consumer Loan Product Usage Correlation, 2012
    • Car title loans and no consumer loan products produce opposite effect
    • Table 9-13 Payment Card Use & Usage Mix: Consumer Loan Product Usage Correlation, 2012

Chapter 10 Prepaid Cardholder Financial Attitudes & Usage Rationales

  • Introduction
  • Consumer Financial Attitudes, by Payment Card
    • Payment card use
    • Table 10-1 Consumer Financial Attitudes, by Payment Card Usage
    • Prepaid users: payment card usage mix
    • Bank distrust and financial insecurity more likely among prepaid-only users
    • Table 10-2 Prepaid Card Users' Financial Attitudes, by Payment Card Usage Mix, 2012
  • Prepaid Card Usage Rationales & Influences
    • ashless preference and spending control
    • able 10-3 Prepaid Card Users: Prepaid Usage Rationales, 2012
  • Age analysis
    • Table 10-4 Prepaid Card Users: Prepaid Usage Rationales, by Age, 2012
    • HH income analysis
    • Table 10-5 Prepaid Card Users: Prepaid Usage Rationales, by HH Income, 2012
  • Race/ethnicity analysis
    • Table 10-6 Prepaid Card Users: Prepaid Usage Rationales, by Race/Ethnicity, 2012
  • Geographic density analysis
    • Table 10-7 Prepaid Card Users: Prepaid Usage Rationales, by Geographic Density, 2012
  • Regional analysis
    • Table 10-8
    • Prepaid Card Users: Prepaid Usage Rationales, by Region, 2012
  • Analysis by degree of prepaid card engagement
    • Table 10-9
    • Prepaid Card Usage Rationales, Engaged vs. Highly Engaged Prepaid Card Users, 2012
  • Analysis by prepaid card payment card usage mix
    • Table 10-10 Prepaid Card Usage Rationales, Engaged Prepaid Card Users v. Prepaid-Only Users, 2012

Chapter 11 Gift Card Usage & Spending Trends

  • Introduction
  • Gift card usage and spending trending: summary analysis
    • Table 11-1 Gift Card Usage Trending, by Retailer Type: 2010-2012
  • Gift card usage and spending trending: gender analysis
    • Women more likely to purchase gift cards
    • Table 11-2 Gift Card Usage, by Retailer Type: Gender Analysis
    • But men generally spend more for gift cards in certain categories
    • Table 11-3 Gift Card Spending, by Retailer Type: Gender Analysis
  • Gift card usage and spending trending: age analysis
    • Middle age equates to gift card purchase tendencies
    • Table 11-4 Gift Card Usage, by Retailer Type: Age Analysis
    • 18-24s big bookstore gift card spenders
    • Table 11-5 Gift Card Spending, by Retailer Type: Age Analysis
  • Gift card usage and spending trending: race/ethnicity analysis
    • Table 11-6 Gift Card Usage, by Retailer Type: Race/Ethnicity Analysis
    • Black and Hispanic consumers tend to spend more on electronics store cards
    • Table 11-7 Gift Card Spending, by Retailer Type: Race/Ethnicity Analysis
  • Gift card usage and spending trending: HH income analysis
    • Gift card use strongly correlates to HH income
    • Table 11-8 Gift Card Usage, by Retailer Type: HH Income Analysis
    • Gift card category spend also strongly correlates to HH income
    • Table 11-9 Gift Card Spending, by Retailer Type: HH Income Analysis
  • Gift card usage and spending trending: card brand analysis
    • Non-card branded gift cards garner higher usage share
    • Table 11-10 Gift Card Usage Trending, by Card Brand: 2010-2012
    • Visa brand gift cards garner higher spend
    • Table 11-11 Gift Card Spending, by Card Brand, 2012

Chapter 12: Company Prepaid Strategies

  • Introduction
  • Card Associations
  • MasterCard
  • Overview
  • Debit trend summary
    • Q1 2012 marks a new era at MasterCard
    • And exposure on Visa-branded cards
    • Process transactions jump
  • Prepaid programs
    • Targeted categories
    • Program management services
    • Mobile wallets and mobile alliances
    • Acquisition-based enhancements
  • Key prepaid relationships and developments
    • Successful public sector growth
    • Direct Express Debit MasterCard a huge success
    • Comerica partnership
    • Walmart partnership
    • Western Union relationship
    • Other retailer relationships
    • Google Wallet participation
    • Targeting youth
    • Multi-currency travel card
  • MasterCard by the numbers: trending debit metrics & ratios
    • Quarterly comparisons
    • Table 12-1 MasterCard U.S. Q1 2010, Q1 2011 and Q1 2012 Debit Card Metrics
    • Annual trends
    • Table 12-2
    • MasterCard U.S. Debit Card Metrics: 2010 v. 2011
  • Visa
    • Business summary
    • Transaction processing services
    • Core debit processing services
    • Consumer debit platforms
  • Exclusivity rule takes its toll
    • Volume share drop: get used to it
    • "We are never going to regain all of the market share . . ."
  • Prepaid programs
    • Argument for government prepaid
    • Government prepaid programs
  • Mobile prepaid a part of V.me digital wallet plan
    • Vodafone mobile payments agreement
    • Visa payWave
  • Visa by the numbers: trending debit metrics & ratios
    • Q1 2012 tells quite a story
    • Two-year quarterly trend analysis
    • Table 12-3 Visa U.S. Q1 2010, Q1 2011 and Q1 2012 Debit Card Metrics
  • Issuers, Program Managers and Distributors
  • American Express
  • Company overview
    • What Differentiates American Express Now Makes It More of a Target
    • No debit card?
    • Two Sides of the Demographic Coin: Premier Rewards Gold and ZYNC Card
  • Enterprise Growth Group
    • Global Payment Options (Prepaid)
  • Gift cards
    • Aggressive marketing
  • Enter prepaid
    • Strong consumer value proposition
    • Table 12-4
    • American Express Prepaid Card Value Proposition: NetSpend & Green Dot Comparison, 2012
    • Traditional and new distribution channels to bring scale
    • Distribution partnerships
    • Prepaid delivers favorable economics
    • Table 12-5 American Express Prepaid Cards: Economic Argument, 2012
    • We see strong customer retention potential
    • Upgrade opportunity a marketing masterstroke
    • Decline counteroffer, anyone?
    • Enticing youth and women
    • Bluebird pilot
    • Online and mobile payments integration
  • Blackhawk Network, Inc.
    • Recent acquisitions
    • Fly in the ointment
    • NetSpend and Green Dot distribution expansion
  • Green Dot
    • Competitive positioning
    • Growth strategy
  • Business model
    • Targeting low- to mid-income consumers across banking relationship spectrum
    • Distribution model
    • Retail distributors
    • Table 12-6
    • Green Dot Retail Distribution, 2012
    • Network acceptance members
    • Other channels
  • Products and services
    • Green Dot-Branded GPR Cards
    • Fee structure
    • Co-branded GPR cards
    • Reload services
    • Green PlaNET
  • Bank acquisition
    • Banking strategy
  • An overdraft dilemma?
    • Green Dot maintenance fees comprise 90% of overdrawn balances
    • Late posting also results in overdrafts
    • Reserve for uncollectible overdrawn accounts
    • Table 12-7 Green Dot Deposits & Accounts Receivable, 2011
  • Cardholder retention strategies
  • Major relationships and initiatives
    • Almost a Walmart subsidiary? 2 million cards?
    • Table 12-8
    • Walmart and Other Retailer Share of Green Dot Revenue, 2010-2011
    • Goodbye, Intuit
    • Table 12-9
    • The Intuit Effect: Impact of Intuit Revenue and Client Loss, 2010-2011
  • Performance summary
    • Card revenues and other fees
    • Cash transfer revenues
    • Interchange revenues
  • Key metrics: 2009 to 2011
    • Table 12-10 Green Dot Revenue Metrics, 2009-2011
    • Quarterly growth trends: 2011 and 2012
    • Table 12-11 Green Dot Key Quarterly Revenue and Other Metrics, Q1 2011-Q1 2012
  • NetSpend Holdings, Inc.
  • Growth strategy
  • Products and services
    • Service pricing and features
  • Distribution
    • Impressive retail footprint to generate more revenue
    • Table 12-12 NetSpend Holdings, Inc. Revenue, by Distribution Channel, 2012
  • Major client relationships
    • ACE Cash Express
    • PayPal
    • Corporate clients
  • Issuing bank relationships
  • Where the revenue comes from
  • The direct deposit connection
    • Table 12-13 NetSpend Holdings, Inc. Direct Deposit Analysis, 2012
  • Performance summary
  • Performance metrics
    • Table 12-14 NetSpend Holdings, Inc. Annual Performance Metrics, 2007-2011
    • Table 12-15 NetSpend Holdings, Inc. Quarterly Performance Metrics, 2011-2012
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