NovoPayment announced today it is establishing a joint venture with Interbank Group, one of Peru’s largest and most innovative corporations, to develop prepaid card programs nationally, including prepaid EBT and food vouchers, general-purpose reloadable cards, cash management and remittances products.
NovoPayment today announced its regional forecast for electronic benefit transfer (EBT) cards for food vouchers in which it estimated a potential market of more than 47 million prepaid cards with an estimated purchasing power of more than US$50 billion annually by 2015.
On the heels of launching Latin America’s first mall-branded gift card earlier this year, NovoPayment announced the launch of the Sambil Visa General Purpose Reloadable (GPR) Card. As of July 1, a total of 2,700 cards had already been issued in just one kiosk at the Sambil Mall in Caracas, Venezuela, with average initial loads reaching twice the level expected per card.
NovoPayment announced today at the 3rd Annual Underbanked Financial Services Forum its regional forecasts for general purpose spending cards – the classification given to branded payment cards similar in function to debit cards, but that require no underlying banking account.