Partner Article

Digital Disruption Fuelling Innovation in Prepaid

The Prepaid International Forum (PIF), the not-for-profit trade body for the prepaid sector, has announced the details of its second Innovation Day on 12th May 2016 to be held at Altitude London.

The annual event was created by PIF to highlight how innovations in the prepaid sector are fuelling its growth as an effective and fast-growing alternative to traditional financial services.

At the heart of this year’s event will be discussion around the opportunities created through the digital disruption of traditional financial services.

Speakers at the event will be sharing data and best practice on a wide variety of topics, from the needs of millennial consumers, new opportunities in e-commerce and the potential impact of wearable technology for payments solutions.

PIF’s latest research report into the growing adoption of mobile payments, will also be launched to delegates.

The keynote speaker will be Samee Zafar from Edgar, Dunn & Company, talking about the latest findings from the company’s Advance Payments Report, highlighting how the prepaid industry is perfectly poised to meet evolving consumer issues and needs, especially on concerns about consumer protection for digital payments.

Samee Zafar comments,

“A key issue in electronic payments today is how to manage and minimise payment risk in an increasingly connected world. Consumers are using prepaid payment instruments to hedge against this risk, limiting their exposure, while maintaining full control over what they spend.”

Also highlighted during the day will be the sector’s work to promote greater financial literacy, support businesses with age-verification tools and the opportunities the Faster Payments Scheme presents for innovation in prepaid.

Diane Brocklebank, PIF spokesperson, comments,

“Opportunities within the prepaid sector are growing exponentially, thanks to the digital disruption of ‘business as usual’ within financial services.

“Our members are leading the way in innovations to benefit consumers and businesses alike, pioneering approaches that are quickly becoming the norm and replacing out-dated and inefficient practices.

“Our research into mobile payments illustrates this point, showing how for many consumers this relatively new technology is changing everyday habits, perhaps leading to the imminent demise of the traditional wallet or purse.

“These are exciting times for prepaid and we are committed to using events such as this to help support positive change.”

Attendees will hear from organisations including PrePay Solutions, Payfriendz, ParentPay, Kerv, Raphaels Bank and Payment Card Solutions.

The event will run from 8.30am to 5.30pm on 12th May at Altitude London and has been designed for professionals in prepaid who are responsible for card services, product development, payments strategy and product sales and marketing.

Sponsors of the event include agechecked.com, Cornèrcard and W2 Global Data

The event is free of charge for PIF members (for up to three attendees) and £375 for non-members. The full agenda is also available online at the PIF website www.prepaidforum.org

People who are interested can register online or contact Diane Brocklebank via email diane.brocklebank@prepaidforum.org or phone +44 (0) 7736 971986.

This was posted in Bdaily's Members' News section by Gemma Eccleston .