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Prepaid Cards in the Smartphone Age: Mobile Strategies for Customer Engagement - White Paper

Prepaid Cards in the Smartphone Age: Mobile Strategies for Customer...

Prepaid card providers must consider how its prepaid program connects to the cardholders’ smartphones—and delivers a positive mobile banking customer experience.

By putting the power of the Internet into their owners’ pockets and augmenting that power with applications, smartphones have become the center of many individuals’ electronic lives.

According to research by the Pew Research Center, two-thirds of cell phone owners in the U.S. say they use their phones to go online, and one-third of all cell phone owners say their phones are their primary method for accessing the Internet.

For many prepaid cardholders, the smartphone is their primary or only tool for electronic communications, including the Internet. Mobile tools for financial services run the gamut from balance tracking to payments technology.

While tools such as balance inquiries can be handled with text messages, to truly provide benefits for customers, be competitive in the market, and cut costs for the provider, a mobile app must be robust. The mobile apps available today have the basics covered, and customers expect the ability to engage with their financial service providers through their mobile devices.

Download this Mercator paper to learn competitive mobile strategies for prepaid programs.