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“62%” of Mexico City HR Directors Unaware of Rules on Food Benefits

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NovoPayment, Latin America’s leading prepaid program manager and service provider, announced the results of a study that reveals the need to inform Mexican companies of the benefits of recent legislation designed to promote food benefits for workers, and identifies opportunities for electronic benefits transfer (EBT) programs based on network branded prepaid. The study, commissioned by NovoPayment subsidiary Tebca and conducted by TNS Research International, surveyed human resource professionals in greater Mexico City regarding their awareness of key aspects of the Nutritional Assistance Law (LAAT by its Spanish acronym), the penetration of food vouchers in their companies, processes for administering existing programs and satisfaction. The study indicated that 62% of those surveyed had never heard of the new law. Among those respondents who knew of the law, 66% did not know that the LAAT provided fiscal benefits to companies, and 88% were unaware whether the food support benefits could be delivered in cash (they cannot). “There is a significant opportunity to inform companies about the fiscal benefits of the LAAT and the impact that modern payment systems can have on their organizations,” said Anabel Perez, President and CEO of NovoPayment. “With network branded prepaid cards, companies can easily and securely administer benefits and other payments, and employees can have the freedom to choose among nearly 500,000 points of sale nationally,” she added. The findings also highlight opportunities to differentiate prepaid food and meal programs from older, more established alternatives such as paper vouchers through improved processes, greater convenience, cost efficiency and security. Tebca Mexico launched Bonus Alimentación® MasterCard, the country’s first network branded prepaid EBT program, in 2010. The program is designed to assist public and private organizations in distributing food and meal benefits to their employees. By 2017, prepaid products in the food voucher category in Mexico are estimated to represent a business opportunity of US$ 8 billion in transactions. NovoPayment provides prepaid solutions and services in Latin America through its subsidiaries Tebca and Servitebca. Tebca provides food benefits via branded prepaid payment solutions through the Bonus Alimentación® and Provis® Alimentación card brands. Servitebca provides an array of other prepaid solutions targeting businesses, government organizations and consumers, including Plata® Compras, Plata® Gasolina, Plata® Clásica and Plata® Gift.
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NovoPayment Takes Home Two Paybefore Awards

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Miami-based NovoPayment, Latin America’s premier prepaid program manager and service provider, and its subsidiary Servitebca® Mexico were honored at the 5th Annual Paybefore Awards in Orlando on Monday, taking Best in Category for their Plata Promociones program as well as the 2011 Industry Achievement Award for its CEO, Anabel Perez. Plata Promociones won in the category Best Corporate-Funded Prepaid Incentive, Reward, Rebate or Loyalty Program. The Paybefore Industry Achievement Award is given to the individual who has made the most significant contribution to the success and progress of the prepaid industry during the past year or over many years. The awards are the company’s fifth and sixth Paybefore Awards, respectively. Now in their fifth year, the Paybefore Awards are the most prestigious recognition of excellence in the worldwide prepaid and stored value card industry. The awards are presented annually at Prepaid Expo USA by Paybefore, the leading source of industry information for the global prepaid community. “NovoPayment and Servitebca Mexico have distinguished themselves in a tough field of competition,” said Marilyn Bochicchio, master of ceremonies for the Paybefore Awards and one of five expert judges for this year’s awards. “We are also proud to recognize Anabel’s contributions. She’s been a tireless advocate on behalf of the industry and financial inclusion, and serves a mentor to a new generation of professionals,” she said. Plata Promociones MasterCard® (Plata Promotions in Spanish), part of the company’s suite of corporate prepaid solutions, is a branded, turnkey program designed to help marketers of consumer and electronic goods execute contests, sweepstakes and other promotional initiatives in Latin America, using branded prepaid cards. The program streamlines the often difficult and costly process of delivering prizes to Latin American consumers. Anabel Perez is President and CEO of NovoPayment and oversees the development and operation of end-to-end prepaid programs in partnership with financial institutions, mobile operators, utilities, government agencies, retailers, microlenders and consumer goods and services companies. Since co-founding the company in 2004, she has directed its expansion to include operations in five countries, and today NovoPayment has the largest branded prepaid portfolio in Latin America of any non-bank.
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