As 2012 wraps up, and we head toward 2013, new year prognostications start filling the air, on subjects ranging from our ever-shifting climate to who will win an Oscar to, of course, questions about the economy, and what shape it will be in.
Recently, Odysseas Papadimitriou, the head of Card Hub — the credit card comparison site — talked to ABC News about his own trend-watching for the year ahead, specifically on the credit front. Since he also used to run the credit division for Bank One, he comes equipped to make some pretty good guesses!
Among his bets for the year ahead, are that mobile wallets are still a little farther off, since more infrastructure will be required for consumers to feel truly safe using them, and that credit will continue to become easier to get, as the economy continues its thaw.
He also thought that business in prepaid cards will soar, citing the entry of Chase and American Express into the market. Incentives will continue to be offered for these cards, and banks like their use, since they can make-up some of the lost fees that the recent Durbin amendment capped, on the debit card side of the equation
Your customers, then, will become increasingly familiar with using prepaid cards, or giving them to friends and family for their use. And your business will increasingly find competitors offering specialized prepaid cards for their customers’ use. AVPS can help guide you through the “prepaid waters” as well, as we make it easy with our own “prepaid VISA” program for you to offer this option to customers.
And of course your AVPS Rep can help you and your business make any other new plans you need to, now. While there’s still a little 2012 left!