Citi Prepaid Services. An overview to delivering better, electronic payments. Agenda . Introduction to the Prepaid Industry Prepaid Solutions for State and Local Governments Key Benefits of Prepaid Solutions Case Studies Questions and Answers . Introduction to the Prepaid Industry.
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An overview to delivering better, electronic payments
Open Loop (Network Branded) Prepaid Programs
1 Visa preliminary estimate based on approximate segment sizes of demographic and industry spending and disbursements where prepaid products may provide payment solutions. Some segment dollar amounts may overlap. Version Q1 2003.
Replace existing check, voucher or cash payments with a more efficient, effective, secure and convenient prepaid program.
Infrastructure and Security
Better communication and service
Improved financial management
541.3Underserved Population in the US
Approximately 80M “Underserved”… (Population in Millions)
(no banking relationship)
Underbanked (low/ no credit score)
..with almost $1T in Income
Source: Study commissioned by Visa and performed by Bearing Point in 2004/2005