Teaching Fin-Techs and Entrepreneurs to Launch their Own Prepaid Program
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- Get to Revenue Sooner With Faster Program Startups
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- Reduce Expenses Through Rigorous Contract Negotiations
- Deliver a Better Consumer Experience Through Custom Solutions
Why Choose Prepaid Program Management?
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Turn Key Products
Many Program Managers try to build a custom solution with every client. This costs a lot of money and eats up a lot of time. We are different. With us, you start with a template and then make tweaks. This helps you get to market faster with an MVP so you spend your investor’s dollars testing and tweaking, not building.
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No Long Term Contracts
You have enough people wanting to lock you into long term contracts. We hate those! We want you to keep doing business with us on a month to month basis because you love working with us and we provide you a ton of value. If you need to pivot we won’t hold you back because of some contract.
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100% Money Back Guarantee
If you are not happy with our service or product, we will refund 100% of your most recent payment. We need to earn your business every single day.
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In one model I completed for a client, the bank, processor, networks, and partners took 79% of the revenue…and this was at full scale. That is outrageous!
They get all the money, while you are responsible for:
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- Putting together the chain of partners
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- Raising the capital to launch the program
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- Complying with all the laws
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- Finding the clients or cardholders
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- Servicing the clients
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- Figuring out all the legal stuff
- Laying in bed at night worrying about payroll
This has got to change and we can help you change it.[/text_block]
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Prepaid Boot Camp
Do you have a great idea for a Prepaid Program, but don’t know everything about prepaid? This two-day off-site intensive program is designed just for you. Your entire team will spend the first day learning everything about prepaid. This will give you the foundation to head into day two where we create your financial model, define your program, and fine tune your value proposition. Once you are finished, you will be ready to talk to banks and processors.
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Financial Modeling
Do you know every expense you will incur when starting and running a prepaid card program? Do you know what your interchange and fee revenue will be? Our Financial Model product has every input you need to accurately estimate your revenues and expenses. We cover the fees from the bank, processor, networks, card production, and other third parties. We model your cardholder attrition, dormancy, load rate, and spend percentages. After you finish this model, you will know the financial ins and outs of your program in great detail. As a bonus, you will have a three year forecasted income statement to show investors. Investors may question your assumptions, but they won’t question your financials.
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Compliance Training Designed for Prepaid
Have you ever taken the required prepaid AML compliance training? They think you are some banker sitting in New York City working with walk in customers. It is such a waste of time. The information is not relevant to you or your team. What if you could replace that training with something that actually helped your people better prevent fraud, design better products, and kept your name out of the news? We built the Prepaid Academy™ with that purpose in mind.
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Excellent Client Support
There are some really good service providers in the Prepaid Industry….but there are many, many, really, really bad service providers. We guarantee that you will receive Ritz-Carlton level support from us or your money back. That’s right! If we don’t give you great service, we will refund your current month’s fees.
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Faster Program Start Ups
We are not going to lie to you. We cannot get your program up and running in a few weeks or even a month. No one can. If they tell you they can, then they are lying. But we can help you get started faster. We start by laying out a project plan with all the steps needed throughout the program setup. Most Program Managers are slowed down because they don’t know all the steps involved in setting up a program from scratch. One of your partners ask you to fill out a form or for some information. But, you have never thought about that question before and need to discuss it with your team. This takes precious time. We help you think about all of these questions before they are asked. This shaves weeks and months off of your timeline when you have no revenue coming in the door.
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Marketing Automation
Are you communicating enough with your cardholders to drive the desired behavior? Most Program Managers never communicate to their cardholders after the card hits their mail box. Imagine if you could remind a cardholder to get cash back at the POS terminal for free instead of using the ATM. You turn an expensive transaction into revenue while the cardholder saves money. We can setup marketing automations that drive consumer behavior and your revenue.
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Who is behind Prepaid Program Management?
Jake Posey has worked in Prepaid since 2008. He has worked for two processors, with more than 110 clients, and 16 issuing banks across the 3 continents. He has managed Payroll, GPR, Corporate, Gift/Incentive, HSA, and travel cards. He earned a Masters of Business Administration in Entrepreneurship from the University of Florida.
Excellent service, speed, and being different are what drives Jake. “Prepaid is a commodity and everyone is treating it like it is still new. Gone are the days you could just throw a good idea out there, attach a prepaid card and make money. Program Managers today have to buck the system and make the pie bigger,” says Jake.
