Post on 18-Nov-2014
description
Information Classification as Needed
For Visa Member Use OnlyThis information is not intended, and should not be
construed, as an offer to sell, or as a solicitationof an offer to purchase, any securities
Visa Prepaid Cards for the Public Sector
Caroline Birchinall
Head of Prepaid Proposition Development
Visa Europe
Presentation Identifier.2Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 2
Agenda
• Introduction
• The Visa Public Sector Prepaid Opportunity
– Introduction to Prepaid Cards
– Market Opportunity for Prepaid in Europe
– Visa Prepaid Public Sector Products
– Benefits of using Prepaid cards
– Financial Case
– The Visa Difference
• Next steps
Presentation Identifier.3Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 3
Prepaid Cards
Prepaid Debit Credit
Linked to a Prepaid Account
Immediate Deferred Charge Credit
Linked to a Current Account Linked to a Credit Account
Elective Use Everyday Use Elective Use
PayWave, Simply One, Visa Code Sure, Risk Control (VPE)
Pay Before Pay Now Pay Later
Presentation Identifier.4Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 4
Visa Prepaid Public Sector Products
Education expenses Local Authority payments
Central Government paymentsCharity Disbursements
Employee T&S
Prepaid cards are a relatively new development in the European public sector but growing fast
Presentation Identifier.5Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 5
Government Payment Cards
Employer
Administrator
Distributor
Central Government Local Government
• Payroll
• Benefits
• Retirees/Pensioners
• Payroll
• Benefits
• Retirees/Pensioners
• Petty cash• Purchasing• T&E expenses• Relocation expense
• Petty cash• Purchasing• T&E expenses• Relocation expense
• Social benefits distribution• Health care services• Transit subsidies • Child support• Emergency assistance
• Social benefits distribution
• Child support
• Emergency assistance
Presentation Identifier.6Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 6
Prepaid drivers in the Public Sector
Improved Reporting and Audit Trail
Improved MI and payment tracking
Cost EffectivenessCosts must be fixed and upfront
quantifiable
Social InclusionA product accessible to all
Improved SecurityReduced cash distribution leads
to improved security for both public sector departments and
the citizen
PREPAID DRIVERS
Increased EfficiencyIncreased productivity of Public
Sector departments from the removal of manual processes
Improved Citizen Experience
A more convenient product for the end user
Presentation Identifier.7Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 7
Central and Local Government Disbursements
Regular Benefit Disbursements
One-Off Payments Temporary Worker Payroll
Applicable to a diverse range of regular government payments :
• Child benefit payments
• Unemployment benefit
• Invalidity benefit
• Pension payments
• Housing benefit
Applicable to a number of central government run schemes which support :
• Job seekers clothing allowance
• Home furnishing allowance
• Emergency cash grant
• Winter fuel
• Public Sector departments employ large numbers of temporary and seasonal workers – payroll cards are ideal for paying salaries to these employees.
Presentation Identifier.8Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 8
Central Government Payments How it works
In store
Online
ATM
• SMS alerts to deliver real time balance and transaction information.
• ATM Balance enquiries€
Presentation Identifier.9Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 9
Product Features
Visa disposable or reloadable prepaid card
Immediate access to funds for the
recipient
Accepted at any Visa merchant
location (in-store, online, phone)
and ATMs
Card replaced if lost or stolen
Customer service and support
available by web and/or phone
Core features & functionality
Presentation Identifier.10Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 10
Central and Local Government Payments Benefits for All
The value proposition for recipients and central and local government departments is very strong. These benefits include:
Public Sector Department
• Improved efficiency
• More cost effective
• Innovative method of providing disbursement
• More secure and better audit trail
Citizen
• Convenience
• Security
• Accessibility for all - No approval process required for recipients
Presentation Identifier.11Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 11
Travel and Subsistence Cards
Target customer segments
• Given to employees to cover irregular travel and subsistence
• Can also be used for emergency cash advances/payments/petty cash
• Employers can load a set amount of value to cover the anticipated travel/expenses for a particular trip
• Can be issued on an ad-hoc basis
• Can be given to employees to cover relocation expenses
What are they used for?
Presentation Identifier.12Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 12
Travel and Subsistence Card Benefits
Customer Benefits
• Convenience – the employee is not out of pocket having to reclaim expenses
• Security and protection• Immediate access to funds• More effective use of work
time – no requirement to complete expense claims
• Flexibility
Business Benefits
• Reduces administrative costs
• Increased efficiency• Improves employee
productivity• More effective control of
T&S budget• Simplified reporting
Presentation Identifier.13Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 13
Charity and Educational Grant Disbursements
Charity Payments Educational Grants
Charities make both regular and one off payments to cover :
•Emergency cash grants
•Purchase of specialist equipment
•Supplementary benefit payments
• Students and young people receive regular and one off payments to cover :
• Tuition fees
• Living allowances
• Additional grant payments
Presentation Identifier.14Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 14
Charity and Educational Grant Disbursements Benefits for All
The value proposition for recipients, issuers and grant providers is very strong. These benefits include:
Public Sector Department
• Improved efficiency
• More cost effective
• Innovative method of providing disbursement
• More secure and better audit train
Citizen
• Convenience
• Security
• Accessibility for all - No approval process required for recipients
Presentation Identifier.15Information Classification as NeededPrepaid Commercial February 2010 For Visa Member Use Only 15
Thank You!
• Any Questions?