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The Race for Pre-Paid – who will win?
With cash becoming increasingly “persona non grata” with service providers and customers looking for evermore convenience in their lives whether for private or publicly provided services, the alternative to cash (now that cheques are largely redundant) for consumer to business transactions has up to now been credit cards/debit cards or a few niche non-rechargable pre-loaded cards with limited usability.
For a long time now we have been banging the drum about the need to cater for those who don’t have bank accounts or who are worried about overdoing it on the credit front. Now suddenly the supply market has woken up to the potential size of the pre-paid market out there which some estimates put at over 70 billion Euro by 2010 for Europe alone. As a result every day brings a new announcement of trials, launches and pilots with the big players, Mastercard, Visa and some of the bigger banks all vying with each other to capture the lion’s share of the market in both the public and the private sectors – not to mention a whole host of smaller “niche” players.
The question now is – who will win? Or is the market so large that there is space for all comers? And does “one size” fit both public and private sector?
To find out more contact info@alco.eu.com
With cash becoming increasingly “persona non grata” with service providers and customers looking for evermore convenience in their lives whether for private or publicly provided services, the alternative to cash (now that cheques are largely redundant) for consumer to business transactions has up to now been credit cards/debit cards or a few niche non-rechargable pre-loaded cards with limited usability.
For a long time now we have been banging the drum about the need to cater for those who don’t have bank accounts or who are worried about overdoing it on the credit front. Now suddenly the supply market has woken up to the potential size of the pre-paid market out there which some estimates put at over 70 billion Euro by 2010 for Europe alone. As a result every day brings a new announcement of trials, launches and pilots with the big players, Mastercard, Visa and some of the bigger banks all vying with each other to capture the lion’s share of the market in both the public and the private sectors – not to mention a whole host of smaller “niche” players.
The question now is – who will win? Or is the market so large that there is space for all comers? And does “one size” fit both public and private sector?
To find out more contact info@alco.eu.com
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PIF - Mar 2008 ALCO starts the PIF Transport Working Group |
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BKV Budapest-
Feb 2008 ALCO & Sequoia Smart Solutions advise Budapest's public transport operator |
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Tuxedo Money Solutions-Feb 2008 ALCO advises on the impact and opportunities arising from new technology |
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Mobank-Jan 2008 Mobank development supported by ALCO Consulting |
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Monitise -Jan 2008 Monitise strategy advised by ALCO Consulting |
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NFC Enabled Mobile Phones Mar 2008 Growing Marketplace Enthusiasm |
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Prepaid Cards - Mar 2008 The move to contactless smartcards is gathering pace |
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Citizen Cards - Mar 2008 New opportunities |
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