Why do merchants offer prepaid cards, and what strategies do they use to sell them?
Boston, April 9, 2014 – Merchants of all types see prepaid as a means to grow revenue and drive customer loyalty, and many have begun to sell prepaid cards aggressively. Whether through increased use of prepaid products and digital wallet technologies, ROI-based sales strategies, or strategic partnerships, merchants will continue to prioritize prepaid. But what specific strategies do merchants use to sell these cards? And how can prepaid providers, networks, and marketing partners maximize opportunities in the prepaid game?
This Impact Note details merchants' perceptions about prepaid card marketing strategies, highlighting merchant attitudes toward card sales and identifying the trends that appeal to select merchants. It is based on a Q4 2013 Aite Group survey, conducted in partnership with InComm, of industry executives from a wide array of merchant companies that sell gift and prepaid debit cards in the United States.
This 24-page Impact Note contains 14 figures and one table. Clients of Aite Group's Retail Banking service can download this report.