Rachel Benning MasterCard Public Sector Development. Benefit Cards: Now More Than Ever. 2011 NASACT Annual Conference. The Role of MasterCard Worldwide. Manages a full range of global payments brands and related products Sets and enforces policies and rules
Prepaid products draw funds from a pre-funded account which can be funded from a variety of sources.
Debit products draw funds from a checking account.
Credit products draw funds from a credit line.
Typically accepted by a single merchant/group of merchants. Examples include dept. store gift, phone, and transit cards. Also called “retailer-branded” or “proprietary” prepaid cards.
1 SNAP and WIC are both USDA assistance programs; SNAP was formerly known as “food stamps” ; WIC is a supplemental program focused on the healthcare and nutrition of low-income pregnant women, breastfeeding women, and infants and children under the age of five
2009 - 2017 Estimated Open Loop Volume (US$ Billions)
Source: “BCG Prepaid Market Sizing Study”, May 2010. Research commissioned by MasterCard.
Source: “Bloom/Cogar Consulting, Inc. Prepaid Public Sector Market Sizing Study”, July 2008. Research commissioned by MasterCard.