News
Fiserv expands prepaid offers, capabilities
February 24, 2010
Fiserv Inc. says it has expanded its prepaid card production and packaging facilities and capabilities. These expansions include increasing production space by 109 percent; expanding its packaging options, building on its already complex fulfillment capabilities; and adding a wide a range of card materials for clients to choose from, including PVC, recycled stock, Teslin and paper.
All of this expansion is necessary as experts are predicting the prepaid card industry to exhibit dramatic growth in 2010, despite regulatory and economic pressures. According to a November 2009 report by the Mercator Advisory Group titled "Prepaid Market Forecasts 2009-2012," the total prepaid market size in 2011 is expected to hit $427.5 billion, up from $247.7 billion in 2008.
Those recent expansions enable Fiserv to provide a complete tailored solution to help clients achieve their prepaid business objectives, Fiserv says. With increased production space, Fiserv can add the people and equipment needed to meet growing volumes and project complexity. More packaging options enable Fiserv clients to mix card and packing configurations and add inserts and personalize with targeted messaging. Additionally, with expanded options for card materials and the ability to personalize cards via traditional methods such as embossing and ink-jet printing or state-of-the-art solutions such as Drop-on-Demand and digital printing, Fiserv clients can offer a truly personalized card experience.
"Fiserv offers a fully-integrated solution that features prepaid cards; transaction statements (for reloadable card programs); MICR check printing for rebates; strategic direct marketing services; and a Web-based client control center to monitor inventory, track card ship dates and create custom statement formats. With these recent expansions, Fiserv is even better prepared to help our clients succeed in the growing market," said Jorge Diaz, president of output solutions at Fiserv. "In addition to expanding its capacity and capabilities, one of the most exciting additions is MyCardCreation, which makes it simple and affordable for customers to create cards with their own pictures on them. Studies have shown that 70 percent of customers would like a card personalized with their preferred photo, and 76 percent of those customers would use that card more than any other."
Fiserv is certified by Visa, MasterCard and Discover for open-loop (network-branded) card production, in addition to private-label card production.
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