Intevacon introduced the Prepaid card in the fall of 2013, and we have since established a growing base of customers selling the Prepaid card at their stores. A few of our customers even sell the Prepaid card as both a gift card and as a reloadable prepaid card, with different perks and payment requirements associated with each. There are many recent articles that have been published discussing consumer trends toward the prepaid card. We thought we would highlight a few so you can start thinking of ways to market your prepaid card.

1. An article published last month by Oil Express called “Trends: Debit card use hits new low” describes how trends are declining away from the use of debit cards and increasing in the use of Prepaid cards, especially among young adults. Bank fees and the federal debit card reform activities contribute largely to the dissatisfaction. You can find a discussion of the trends away from banking institutions in a blog here. With this continued increase in the acceptance of prepaid cards and consumer trends away from banking institutions, the timing could not be better to introduce the Intevacon Prepaid Card.

2.   An article by ATM Marketplace called “More Americans using cash to avoid data theft” noted that the recent data breaches have motivated consumers to use cash more often. Calling it the “revival in payment with cash,” the following statistics were provided:

40 percent of those aware of any data breaches said they’d started using cash for more of their purchases when shopping;

43 percent of those aged 18–34 said they’re using more cash; and

45 percent of those aged 35–44 said they’re using more cash.

The Intevacon prepaid card allows the perks of using cash while also offering the convenience of a card. Card holders can use their card at the pump and then reload it at the register. This allows you, the marketer, to increase cash flow and eliminate swipe fees.

3. In line with targeting specific age groups, a recent article by Convenience Store News titled “Millennials & C-stores: The Perfect Fit?” notes that about 75% of Millennials (those born after 1980) shop at convenience stores at least once a week, up from the 68% of total respondents. The number one reason cited by Millennials to shop at convenience stores is to buy beverages, followed secondly by the need to buy gas. Millennials also fulfill their impulses with purchases such as prepared food and health and beauty products. Read our earlier blog here about how Millennials are quickly adopting prepaid cards as a preferred method of payment. Millennials appear to be the ideal candidates to target with a prepaid card.

Let us know if you would like to find out more about our prepaid card or speak to one of our successful prepaid marketers.