Page 22 - Pay Magazine s2014

pay awards
consumer chAmPIon – u.s.
The card or program that delivers the best consumer value proposition for features, functionality, service and price. This category was judged based on CFSI’s Compass Principles, aspirational guidelines for the nancial services industry, o ering standards of excellence for designing and delivering basic tools people use to manage their daily nancial lives and improve their nancial health. Jennifer Tescher, president and CEO of CFSI, participated as guest judge.
NetSpend Prepaid Debit Card
NetSpend
partners: MetaBank, The Bancorp Bank, BofI Federal and Republic Bank & Trust
what it is: Program manager and processor for prepaid cards issued by several leading prepaid issuers. NetSpend’s platform has 3.6 million active prepaid cards used by U.S. consumers who are not served by traditional banks or prefer the control and exibility
of prepaid.
why it works: Cards feature MasterCard
and Visa branding and are available through nearly 90,000 locations covering a variety
of channels, including in-store, Web and mobile, direct mail and via tax preparers. Customers can reload cards at more than 100,000 retail locations nationwide, via direct deposit, bank transfer or PayPal. Incentives, rewards and other features provide a positive cardholder experience.
Data-driven innovation makes acquisition and reload easy, and o ers features that engage and retain cardholders, including savings and purchase cushion.
GoBank
GreenDot Corp., MasterCard Worldwide
American Express Serve
American Express
why it matters: Enables underbanked con- sumers to participate in the electronic pay- ments ecosystem, manage money and avoid costly alternative nancial services products. Cardholders also have access to o ers, discounts and incentives to help make their money work for them.
differentiators: Easy to obtain and reload, NetSpend prepaid cards o er a broad spec- trum of features, including card-linked savings accounts, budgeting tools, detailed instant transaction alerts and instant P2P transfers. Customized fee plans enable users to choose a fee structure that works best for them. O ers rewards for purchases, loyalty, referrals and direct deposit signups, among other actions.
what the judges said: NetSpend has con- sistently used customer data to drive
product features and pricing. The company has pioneered many features that have helped shape prepaid into a safe, a ordable banking alternative. With interest-bearing savings and a purchase cushion unlike anything else on the market, the company is dedicated to serving customers for the long-term—and
has 3.6 million active cardholders to show for its e orts.
20
wInners
prepaid
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