Javelin Strategy & Research announced a new report about the prepaid card market

 Javelin Strategy & Research came up with a new report that covers the prepaid card market. Now it is available and is ready to highlight consumer usage and other related issues. Among them are such questions as what financial institutions can gain through a prepaid program more specifically, how a prepaid card issuer should assess and choose a processing partner in order to obtain the greatest success and return on investment from their prepaid card programs, etc. According to Javelin President and Founder, James Van Dyke it becomes more difficult to attract new consumers as they have more demands and needs. Moreover, they are becoming more reliant on prepaid cards as a primary payment method as the variety of prepaid products expands. He added that this behavioral shift offers financial institutions and other prepaid issuers an opportunity to not only establish longer-term relationships with account holders, but create additional revenue.

As Javelin experts explain, the processor choice is often overlooked and undervalued by prepaid program managers. And while the complexity of prepaid products is growing, it influences the related areas. So year-over-year transaction volume growth underscores the criticality of selecting the right processor to keep pace and optimize investments long-term.There are four key components of an effective prepaid processing program that is covered by Javelin. This program includes managing the card, serving the cardholder, executing the transaction and, getting the most from the platform. Each component has something to offer. And consumers are welcome to decide what to choose as a detailed discussion of each component provides decision-making guidance to prepaid issuers chartered with managing a program. The new research also takes on several of the common misconceptions about the processor selection criteria, dispelling myths and setting the record straight based on perspectives from practitioners and current market trends.