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Thursday, July 28, 2011

On continent, South Africa is place for prepaid

At the first Gift Card & Prepaid Seminar Southern Africa held June 28, 2011, in Johannesburg, South Africa, gift card processor Ceridian Stored Value Solutions (SVS) called South Africa an "economic powerhouse" in Southern Africa ripe for prepaid card market growth.

"Prepaid cards have been the fastest growing form of payment in Southern Africa for six consecutive years," said Steve Bradbery, SVS Customer Services Director. "One reason for this is that South Africa has a large community of people, approximately 40 percent of the total population, who do not have a bank account. This means that we need to really look at innovative ways of diversifying and expanding cash and money."

“The market is here," Bradbery added. "It is a changing and exciting landscape."

The one-day conference, organized by U.K.-based Global Prepaid Exchange in partnership with Visa Inc., took place at the Indaba Hotel and Conference Centre. SVS, a founding member of the Global Prepaid Exchange, attended the conference with its South Africa partner and program manager, DrawCard, a subsidiary of ATM Solutions (Pty) Ltd. end of article

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