Mobile Deposit Capture Will Significantly Expand the Prepaid Market

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The major payment networks are working with technology companies to capture check images for deposit into prepaid card accounts. This capability will expand the market for prepaid financial services products by directly challenging existing alternative financial services providers and check cashing retailers. This new technology will give rise to an entirely new type of battle for distribution outlets.

Published on: September 12, 2012
Author: Tim Sloane
Alternate Point of Contact: Amy Dunckelmann

Category:

Mobile Deposit Capture Will Significantly Expand
the Prepaid Market

 

And alternative financial services suppliers will
face dramatic change

 

Abstract: The major payment networks are working with technology companies to capture check images for deposit into prepaid card accounts. This capability will expand the market for prepaid financial services products by directly challenging existing alternative financial services providers and check cashing retailers. This new technology will give rise to an entirely new type of battle for distribution outlets.

Other recent Prepaid Advisory Reports recently released:

Ninth Annual U.S Closed-Loop Prepaid Cards Market Assessment August 2012
Available for Download
Available for Download
Ben Jackson
Ninth Annual U.S Open-Loop Prepaid Cards Market Assessment and Prepaid Industry Overview August 2012
Available for Download
Available for Download
Tim Sloane
Defining GPR in Response to the Consumer Financial Protection Bureau’s Proposed Rulemaking on Prepaid July 2012
Available for Download
Not Yet Available
Tim Sloane

 

This is a Mercator Advisory Group Note and is available through a membership services relationship. It is also available for one-off purchase.

Members of Mercator Advisory Group’s Prepaid Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.

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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world’s largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.

 


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