NORCROSS, GA, June 25, 2009 – CoreCard Software (www.CoreCard.com) , a leading provider of prepaid and credit card processing licensed software, today released the first white paper in its new series, “Meeting the Challenges of Today’s Prepaid Market.” The series of white papers will focus on providing insights into the prepaid and card processing software industry. The Prepaid Market white paper analyzes the rapidly changing prepaid card industry and how card issuers can navigate the constant influx of new market opportunities and regulatory challenges in order to determine the best solution for their prepaid card issuing system.
“In order for a company to take advantage of using prepaid cards, they must choose a solution that is flexible enough to fit their overall operations and marketing needs and allow them to grow in the future,” said J. Leland Strange, CoreCard Software Managing Director. “At CoreCard, we offer a unique solution regarding processing. As a custom processor, we provide a built-in option for the customer to license the software and become their own processor in the future, a migration path of sorts. This first white paper examines the marketplace and helps card issuers determine the best solution for them.”
TowerGroup, the global research and advisory firm, estimates that by 2010, prepaid and gift card usage will be $75 billion, a 600% increase over 2005; and 375 million cards will be in circulation, a 1,000% increase. And according to the Mercator Advisory Group, in the United States, the open-loop, branded prepaid market will see an annual market spend of $28 billion, and the closed-loop, private label prepaid market $171 billion between 2006 and 2009.
“As a leader and innovator in the prepaid and payments market, we want the new white paper series to provide insight into the market challenges and opportunities for financial institutions, retailers, government agencies, healthcare providers and processors of both open and closed loop prepaid cards,” added Strange.
About CoreCard Software, Inc.
CoreCard Software, a leading provider of card management systems and processing services, offers an array of account management solutions to support the complex requirements of the evolving global financial services industry. The CoreCard® software solutions provide the market’s most feature-rich platform for processing and managing a full range of card products including prepaid/stored-value, fleet, credit, debit, commercial, government, healthcare and private-label cards as well as accounts receivable and loans. Headquartered in Gwinnett Innovation Park in Norcross, GA with additional offices in India and Romania, CoreCard is a subsidiary of CoreCard Corporation (NYSE: CCRD). For more information, call 770-564-8000 or visit www.corecard.com.
Media Contact: Sharon Cuppett