Prepaid Marketing for Online Success

08.02.2012 – Prepaid365, one of the UK’s leading and dedicated prepaid card comparison websites, announced the call for entries for the fourth edition of the Prepaid365 Prepaid Card Awards 2012 with an entry submission deadline of 22nd February, 2012.

Now in their 4th year, the Prepaid365 Awards continue to generate significant interest around the UK and the globe with an ever increasing number of entries from within the UK and abroad. The Prepaid365 Prepaid Awards continue to be one of the only, if not the only, awards where the results are determined solely by consumers in a majority of the categories and hence, the awards provide an excellent endorsement and genuine consumer appreciation for the efforts of prepaid card providers in launching and running these truly stellar programmes. The awards also highlight a few worthy runners ups in each category, shining the light on up and coming superstars within the prepaid industry.

Based on consumer and industry feedback, the Prepaid365 Awards team have maintained the award categories from 2011 with Awards due to be handed out in 22 different categories including 2 business categories for programme managers who have excelled in serving big business and small business.

Over the next 10 weeks, subject matter experts at Prepaid365 will work in conjunction with consumers to determine the winners across the 22 categories from votes gathered via online surveys and social media votes with the aim of researching, reviewing and collating consumer choices across prepaid cards and prepaid card providers across the UK and beyond.

Amit Sharma, CEO and Senior Consultant at Prepaid365 commented, “The response to the first 3 editions of the Prepaid365 Awards was truly exceptional. It is often seen with trade circles that it is quite easy to get providers excited about awards but the Prepaid365 Awards are truly unique as we have had enhanced consumer engagement with each edition of the awards and we expect the 4th edition to raise the bar even higher.

In fact, it is with this in mind that we have introduced an even more robust voting process this year and decided to engage providers and their existing consumer base to greater effect to make the awards even more representative of the people who really count – consumers!. I have previously stated that the awards seem to grow bigger each year and the entries fly in from further afar than before and we expect 2012 to be no different. Here’s to the biggest consumer prepaid awards night of 2012. I am extremely pleased to announce the call for entries for the fourth edition of the Prepaid365 Prepaid Awards in 2012”.

Divya Sharma, Marketing and PR Director at leading prepaid marketing consultancy Emotion Associates stated, “Prepaid365 is widely recognised as the leading prepaid card portal in the UK serving the needs of customers and the industry. 2011 was an exceptional year with the launch of the dedicated Prepaid365 Business listings which provide an excellent opportunity for prepaid stakeholders to interact with each other and find a business partner or supplier or client. Our independent care reviews are trusted by consumers and we work extremely hard to ensure that content is regularly updated and is current. In 2011, the social media competition that we ran alongside the Prepaid65 Awards was great fun and we are doing the same again but with even more jazz and pizazz than last year and consumers are going to be the big winners all through out. Leading Payment industry specialists recommended Prepaid365 as the “reference site and industry resource with prepaid” and we are well on our way to establishing the Prepaid365 Prepaid Card Awards as the consumers voice and consumer awards “free of commercial bias and an excellent opportunity for prepaid card providers to gauge and reference success against the one opinion that really counts – CONSUMERS”.

Previous winners at the Prepaid365 Prepaid Card Awards include industry leaders such as Virgin Money, Cashplus, Splash, Caxton FX, White Eagle, Neteller, O2 Money, TSYS, Payment Card Technologies, Secure Trust Bank, Think Banking, Prepaid Financial Services as well as newcomers such as Phones4u, Clearcash and Kalixa. As always, you need to be in it to WIN it!

Call for Entries for the 2012 Prepaid365 Prepaid Card Awards sponsored by Transact24- www.t24prepaid.com

Have you got a prepaid credit card programme that has been recently launched or has performed exceptionally well over the last 12 months? Have you submitted your entry into the Prepaid365 Prepaid Card Awards? Well, download the entry form and details below and submit your entry before the deadline on 22nd February, 2012.

• Word Format
• PDF Format

For further detail, please refer to the Prepaid365 Awards 2012 Call for Entries brochure here – Prepaid365 Awards 2012 Call forEntries Brochure .

Remember the entry deadline is 22.02.12 and the award winners will be announced on 31.05.12. No entries accepted beyond that deadline day. No really – we mean it this time!

If you have any questions about the 2012 Prepaid365 Prepaid Card Awards or would like to enquire about Sponsorship Options with the Prepaid365 Awards 2012, please email Amit Sharma at amit@prepaid365.com or call on +44(0)78347 26087

Wins for Prepaid Financial Services and programmes managed by Prepaid Financial Services including the PCS MasterCard and Camden C-OOL Youth Prepaid Card

• Winners of the Best B2B Provider – Small Programmes
• Recognition in the Best Prepaid Card Innovation for South African Rand Travel Card

Widely recognised as one of the most innovative prepaid service providers PFS provide a wide range of solutions including B2B products, travel products, corporate expenses, payroll, commission payouts and social and benefit payments.

Noel Moran, CEO of Prepaid Financial Services Ltd expressed his delight with the results commenting, “We are delighted to have been recognised with these two awards. We are particularly proud that we have been recognised in two fields which have been our key focus from day one. Since its inception PFS has strived to offer corporate clients flexible low cost entry into the prepaid market. Our purpose built prepaid software platform is constantly tailored to improve our offering and meet the requirements of our clients. Read the rest of this entry »

Winner of the Best International Prepaid Card

The team at PCS rounded off an impressive few months with recognition at the 2011 Prepaid365 Prepaid Card Awards by winning the Best International Prepaid Card category. The first of its kind in France the product has received widespread media coverage and consumer interest since its inception.

The PCS prepaid MasterCard launched in December 2010 has been developed specifically for the unbanked and underbanked demographic however the demand for the product would indicate that online shoppers, young people and frequent travellers have quickly come to recognise the benefits of this card. The card is currently available for purchase in 20,000 merchants throughout France. Read the rest of this entry »

Leading prepaid Mastercard, the Escape Travel Money Card, has been billed as offering the ‘Best Prepaid Card Website’ according to Prepaid365, the UK’s leading independent prepaid card comparison website. www.escapetravelmoneycard.com scooped the top spot in the prestigious awards, the first major award for the eight-month old website of the Escape Travel Money Card business, part of the EZPay Ltd company.

The third annual Prepaid365 Prepaid Card Awards 2011 assess the cards, websites and supporting services of over 200 different prepaid cards across 22 award categories. The Prepaid365 Awards are voted for directly by consumers and the results are based on consumer votes, reviews and industry feedback, with the top performers winning the highest accolades.

Featuring clear tools to aid consumers in choosing the best value holiday spending money option, www.escapetravelmoneycard.com was praised for its total transparency in listing costs of acquiring a card. The website for the Escape Travel Money Card also carries an informative blog, daily-updated foreign exchange rates, and a clear log-in area for cardholders where they can monitor their account. Read the rest of this entry »

Wins Runner Up Gong in Best Youth Prepaid Card Category

The Camden COO-L Prepaid Card, a unique product launched by Camden Council to promote young people’s activities, was celebrating recognition at the 2011 Prepaid365 Prepaid Card Awards by scooping the Runners Up award in the Best Youth Prepaid Card category.

The Camden COO-L Prepaid card offers young people an opportunity to spend their money on positive activities in and around Camden. Aimed at young people who are eligible for free school meals in school years 9-11, young people looked after and who have learning disabilities and difficulties.

The card is loaded with 25 pounds Sterling per month which can then be used by the cardholders to participate in fun and positive activities in their local area. Cardholders do not have access to withdraw these funds at ATMs. Instead they are restricted for use at specific merchants and service providers in the Camden area, including music lessons, theatre productions, museums and cinemas. Read the rest of this entry »

PCT are delighted to have won the award for Best B2B provider of large programmes 2011, from the respected Prepaid365 Prepaid card awards.

Ian Clowes, Managing Director of PCT commented that “the award recognises the amazing efforts of our highly knowledgeable and dedicated team who help to turn clients’ often complex visions into successful prepaid solutions.  Award wins such as this reinforce the premise that we are providing our clients with expert programme management from concept to delivery.”

Since its inception, PCT have built a reputation for the launch and management of robust prepaid card programmes.   For example, FairFX , one of PCT’s first clients, today offer one of the most successful travel cards available.  Other partners have quickly followed suit, with the first quarter of 2011 already seeing the launch of five new card schemes. Read the rest of this entry »

Prepaid365, the UK’s leading prepaid card comparison site, announced the winners of the 2011 Prepaid365 Prepaid Card Awards recognising best in class prepaid credit cards and providers across different categories such as Travel, Everyday Money, Money Transfer, Payroll, Gaming, Online Shopping and Youth including prepaid MasterCard, Visa Prepaid Cards and Maestro Prepaid Cards.

Launched in 2009, this is the third edition of the fast growing annual Prepaid365 Consumer Awards with over 128 prepaid cards entries across 22 categories being voted for by over 37,000 consumer respondents and Prepaid365 subject matter experts in the business categories.

Divya Sharma, Marketing and PR director at Prepaid365 commented “The prepaid industry continues to grow and so do the Prepaid365 Awards. We had 22 award categories as opposed to 14 from last year and the consumer response has been absolutely astounding. We have always maintained that raising consumer awareness is key to increasing the adoption of prepaid credit cards as a payment mechanism in the UK and the Prepaid365 Awards are all about providing prepaid industry stakeholders a platform for that consumer recognition. Whether it is prepaid MasterCard, Visa or Maestro prepaid cards, Prepaid365 remains the consumers first resource to review and compare prepaid cards. ” Read the rest of this entry »

Orange Cash Contactless Prepaid Card Launched by Orange

Orange has announced the launch of Orange Cash, the UK’s first major contactless prepaid MasterCard card.  Allowing customers to take total control of their spending, the prepaid card is a secure alternative to carrying around cash and can be used in over 30 million locations that accept MasterCard within the UK and abroad, as well as online. The announcement follows the launch of the Orange contactless credit card in 2009 and this year’s roll out of a commercial contactless mobile payments service on Orange.

Highlights

• New, easy-to-use contactless Orange Cash prepaid MasterCard^® allows customers to make faster payments on the high street
• Orange Cash customers earn reward points as they spend, redeemable against a great range of rewards including Pay As You Go Orange texts, airtime, credit or Orange shop vouchers
• MasterCard PayPass™ Contactless card technology enables customers to quickly make purchases of £15 or under wherever the contactless symbol is displayed Read the rest of this entry »

Reading the Terms and conditions of your prepaid card can be rather boring and tedious irrespective of the product or service that they have been written for but it goes without saying, it is quite important to read the fine print before you sign on the dotted line.

As with other products, you do need to sign an agreement electronically and accept terms and conditions as set out by the prepaid card provider when applying for a prepaid card. If you are applying for a prepaid credit  card using a form, then there may be terms and conditions mentioned on that form itself.

Typically, if all else fails, you should be able to find these terms and conditions on the prepaid card provider website. Areas within the terms and conditions, that you should pay special attention to include the following.

• Card Cost: Is the card free? If not, what is the potential cost?
• Validity Period: what is the Validity period of of the card? How long before it is no longer valid?
• Monthly Charges: Is there a monthly service charge, and, if so, what exactly do you get for it? Would it be better to get a pure pay as you go prepaid card instead?
• Usage Fees: what are the fees for using your card? There are cards which charge nothing for local transactions. They might be a better choice.
• Top Up Fees: What are the fees for loading your card? Some top up and loading options are free. Use them.
• Customer Service Setup: what are the fees for contacting customer services? Some providers can charge up to £1.00 per call that you make to them. Avoid these, if possible.
• Usage Restrictions: Any clauses regarding restrictions on the usage of your card. The majority of prepaid cards cannot be used to hire a car or at certain prepaid parking lots, etc. Know the restrictions before the card fails to your embarrassment.
• Account Closure Fees: Is there a charge for closing your account?Some providers charge £10-£20 for closing an account
• Card Replacement Fee: Will you be charged for replacing the card, in the event that it is lost or stolen?
• Card Renewal Fee: Do you have to pay a fee each time the card is renewed (i.e. upon each expiry date)?

It is quite easy to assume that Terms and conditions would tend to be standard across the prepaid card industry but that is definitely no longer the case as the industry grows and there are over a 100 products to choose from in the UK market alone. That basically means that terms and conditions are still worth reading especially to ensure you are aware of the items above and are able to find the best prepaid card to suit your needs.

For free prepaid credit cards and to review and compare Prepaid Credit Cards at Prepaid365 to find the card that is right for you.

Ever since prepaid cards first appeared on the scene in the UK in 2000/2001, the prepaid card industry has been growing steadily. There has been exponential growth in some sectors which others have lagged behind but the growth has been nowhere close to the kind of growth that the scheme managers like MasterCard, Amex or Visa predicted and the prepaid card proposition still remains a work in progress.

The Online vs. Offline Distribution Dilemma

For prepaid card issuers, one of the biggest dilemmas is establishing and picking the right distribution channels to reach consumers and currently, there is an unhealthy obsession with expensive offline distribution channels so much so that some issuers tend to focus too much time on putting their product in front of the consumer and too little time in actually building a proposition that will be attractive to those consumers. Read the rest of this entry »

This is my 2 and 1/2 year old nephews’ favourite line at the moment – “It’s a Good Idea, Amit Uncle!” – This normally applies to a few things which include

• Visits to Toys R Us
• Purchases made at Toys R Us
• More Need for Speed downloads on my iPhone
• The latest issue of What Car magazine and
• Eating only when absolutely necessary!

I, on the other hand, being a grown up use this statement only when dealing with rather more important things like buying a new PS3 game perhaps or accessories for the aforementioned iPhone.

A couple of months back, we launched the call for entries into the 2011 Prepaid365 Prepaid Card Awards and whilst I was marvelling at some of the contenders for this years awards like the Neteller Net+ Virtual Prepaid Card (8 currencies and generates a 1 time use only card number) or the brilliant travel prepaid card – the CaxtonFX card (with Free ATM) or the Cashplus prepaid MasterCard with creditbuilder, I also started thinking what it would take within the prepaid industry for me to proclaim and exclaim that “it’s a good idea!” and I came up with the following three thoughts Read the rest of this entry »

The market for prepaid credit cards has been growing in leaps and bounds and there are close to 200 prepaid card programmes running in the UK with varying degrees of success. Unfortunately, outside the travel sector and currency cards, it is possible to count the number of successes on one hand and even then, success may have to be defined rather optimistically.

One of the the few programmes to buck the trend of optimistic failures is the NETELLER Net+ Prepaid Credit Card programme. The Net+ Prepaid Card programme is managed by the guys at Neteller and is available as either a physical Prepaid MasterCard or as a Virtual Prepaid MasterCard and here’s why these cards work.

• Read the rest of this entry »

The collapse of Crown Currency Exchange, a travel cash supplier based in Cornwall, is getting increasing coverage in the media. So who are Crown Currency and should this collapse worry customers of other online travel money providers?

Stephen Heath, Chief Executive of prepaid currency card specialist FairFX.com explained: “In the travel money marketplace there are 4 main ways that people spend overseas. These are:-

1. Travel Cash – either bought at a Bureau de Change or sent in the post
2. Travellers Cheques – decreasing in volumes and very “old economy”
3. Prepaid Cards – rapidly increasing market sector (including the FairFX $, Euro and £ Anywhere Cards)
4. £ Debit and Credit Cards – simply spending using a £ Sterling card and incur the fees from currency conversion

Read the rest of this entry »

• Australian Dollar MasterCard Prepaid Credit Cards launched.
• Targeted at 664,000 British nationals visiting Australia* annually
• Prepaid Credit Cards available in EURO, USD, GBP, AUD and ZAR
  

In anticipation of the estimated 664,000 British nationals visiting Australia* annually, Prepaid Financial Services (PFS) have launched Europe’s first MasterCard Prepaid Travel Card in Australian Dollars (AUD). The Australian Dollar Travel Card offers secure, cost effective and convenient foreign currency and is available directly to consumers (www.prepaidfinancialservices.com) or through businesses to their staff or consumer base. The Prepaid Card is issued by Transact Network Ltd.

Noel Moran, CEO of PFS explains, “Due to the increasing consumer demand for prepaid cards for buying Travel currency, we are delighted to launch the PFS MasterCard Prepaid Australian Dollar Travel Card. The Card will be available throughout Europe and combines the safety of a payment card with the flexibility and convenience of a mobile phone. Cardholders travelling to Australia can effortlessly manage their money 24/7 using their mobile phone, while making significant savings when buying their holiday currency.”

Read the rest of this entry »

Watching the final episode of the hit TV serial LOST (live from the US as we were constantly reminded) – at 5.00am on a Monday morning was a bit like a prepaid card stakeholder having launched a prepaid card programme – I was left with the burning question whether it had in fact been worth it all?

Now, this may have more to do with what I perceived to be a rather weak ending but the answer to the LOST conundrum was a resounding NO and a number of prepaid card stakeholders may feel the same about their investment in a prepaid credit cards programme.

The Prepaid Industry is Booming – or Is it?

Prepaid Card issuers, providers, manufacturers, programme managers, consultants and every Tom, Dick and Harry associated with the Prepaid Card Industry will admit that the margins within the prepaid industry are not the same as the margins within other alternative payment services sectors and by the same token, they will have to admit that the prepaid, as yet, is not the mass market phenomenon some of the industry experts would have as believe.

Read the rest of this entry »