Prepaid Enterprise

Prepaid Expo USA - Day 2

I originally planned to post Day 2 of the event yesterday but one thing led to another and here I am on Day 3. Not to mention I came down with a pretty severe cold due to allergies. The pollen in the air is thick and makes it difficult for me function normally without being drugged up. Now down to business.

Unlike Day 1, I was unable to attend as many sessions due to meetings lined up throughout the day. I spent some time with the Protective Draft Credit  guys and a few program managers we're looking to do business with. One note of encouragement, which seems to be the underlying vibe amongst all attendees, is the optimism and excitement in spite of in today's economic conditions. Prepaid represents a whole slew of cost reduction vehicles for consumers and businesses so how can we not be excited. I'm especially excited about the role mobile payments will play in adding value and reducing service delivery cost for prepaid issuers.

The one track I was able to attend was very informative and my notes can be viewed via Twitter. I figured why re-type my notes in this post when I can point you to the best form of note taking on the planet! A better way to capture the real-time feel associated with "Twotes" (I hereby claim this term Tweet/Notes = Twotes)

After a few meetings this morning I plan to stroll the exhibit floor to take some much needed pictures. AND hopefully I'll get a Podcast in if my executive producer hasn't fired me yet. :)

 

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Prepaid Expo USA - Day 1

If you're following me on Twitter hopefully you don't get a text messages every time I tweet because today was an eventful day. Over 30 tweets to be exact. Amazingly, in between tweets I did manage to take some notes. First off, registration was smooth. I signed a form and picked up my bag of goodies including a $20 Visa Gift Card.

The first session started at 1:15:

Processor & Networks

1. Incorporating Service-Based Processing Enhancements to Drive Prepaid Growth
• Amir Wain, CEO, i2C talks about reliability and uptime as prerequisite for processors to enter the game.
• THOUGHT: I wonder how many processors actually fulfill this requirement? Interestingly, right before this session I ran into the COO of a program management company and he commented "I don't think there is a program manager out there that is satisfied with his/her processor." I realize this is true in any situation. Just an interesting reality in our space.
• THOUGHT: Amir Wain is probably the best speaker thus far. He was extremely thoughtful and as objective as can be considering the format.
• Some things I jotted down from Amir's presentation:
• "We are not in the business of just delivering features. Features must have a payback"
• "Reliability is a prerequisite to play ball."
• "Analytics are useless if they are too complex. We should work towards simplicity not complexity."
• "Mass customized service for individual cardholders is the direction of prepaid."
2. Understanding Key Technological Enhancements to Improve Prepaid Processing
• This was my favorite session by far because the panelist took strong positions on several topics which provoked thought.
• Amir Wain in true form talked about asking the right questions vs. making plans. How we can't be everything to everyone and sometimes too many features create profit loss and confusion. Do your homework!
• More thoughts from Amir:
• "Prepaid by Choice" is another concept we should all be thinking of in these economic times. Prime consumers will now look to prepaid solutions.
• Program managers building business models on cardholder fees is a conflicted model. It goes against cost savings ideas. Look to other areas for revenue opportunities. Perhaps advertising, etc.
• PCI is NOT enough. It is an ongoing process and we are all playing the "catch up game" much like the anti-virus world.
• 56,000 trojans targeting financial data last year.
• Towards the end of the panel discussion, Galileo CEO, TxVia EVP and i2C CEO debated the significance of becoming a processor and how releases and upgrades are managed within a shared or dedicated environment.

 

The Impact of Mobile & Alternative Payments on Prepaid

I was only able to catch the first 15 minutes of the session then I ran into a potential customer and we ended up talking about some opportunities just outside the meeting room. I did post a few tweets during the first few minutes of the session. http://twitter.com/randysannicolas.

 

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