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Joint Venture to Develop Stored Value Programs

NovoPayment, Inc., Latin America’s leading prepaid card service provider and program manager, 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. With the launch of the joint venture, named Tebca Peru—the first company of its kind in the country—Interbank Group and NovoPayment assume a leading role in the development and deployment of technologies to promote economic growth while providing consumers with new, state-of-the-art tools for safeguarding and managing their assets. Initially, Tebca Peru will introduce a prepaid food voucher program under the brand name Provis Alimentación, aimed at electronically managing social benefit payments for companies and entities throughout the country. The company expects to issue as many as 200,000 cards in the first two years. The benefits of these programs include, among others, reducing overhead expenses and operational risks, immediate delivery of payments and benefits for companies and access to a wide variety of service channels for end customers. “We are very pleased to be partnering with such a prestigious, innovative group and lead the development of this important payment category,” said Anabel Perez, co-founder and CEO, NovoPayment. “Prepaid technology will significantly lower distribution and administrative costs, simplifying management for local private and public organizations, and providing end users with access to modern tools that facilitate their management of cash and benefits.” “With NovoPayment’s support and experience, Interbank Group will break new ground in Peru by pioneering the development of prepaid solutions that will transform traditional payment and disbursement models”, said Miguel Uccelli, Vice President, Interbank Group. “Peru is a market with very high potential for prepaid programs, given its demographics and its economic and social development. We are highly motivated by this new venture”....
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NovoPayment Forecasts Growth of Prepaid Food Voucher Programs

NovoPayment, Inc., Latin America’s leading prepaid card service provider and program manager, 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. Such programs allow organizations to electronically manage the payment of these and other benefits to employees and recipients via branded prepaid cards. “EBT programs provide public- and private-sector organizations with an accountable, cost-efficient and readily deployable solution for placing benefits in the hands of their employees and recipients,” said Anabel Perez, NovoPayment’s co-founder and CEO. Currently, NovoPayment provides EBT benefits to more than 4,000 companies through more than 500,000 active cards. EBT programs are single- or multi-purpose open-loop programs that can be implemented according to each country’s legislation regarding the administration and provision of food and other benefits. Cardholders receive a MasterCard, Maestro, Visa or Visa Electron branded card programmed for use at pre-defined merchant categories, retain any unused benefits and can check balances and purchases 24/7 via phone, SMS or the Web. All cards come with PIN numbers and the name of the employer or payer. “Administering benefits through a prepaid program is clearly a best practice and a great fit for our markets,” said Perez. “Prepaid provides a secure platform for governments and companies to gain efficiencies and tangibly demonstrate to their beneficiaries and employees a commitment to them and to modernization.” One key advantage of Novopayment’s food voucher program, she added, is an electronic platform that interfaces with employers’ payroll systems, allowing them to manage the program themselves. The forecast is part of a larger regional study for prepaid cards covering 15 countries – Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Guatemala, Ecuador, El Salvador, Honduras, Nicaragua, Panama, Peru, Mexico and Venezuela – that measured factors such as size of labor force, poverty rates, wages, banking and other metrics based on the company’s experience in the field....
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NovoPayment Launches New Reloadable Prepaid Program

On the heels of launching Latin America’s first mall-branded gift card earlier this year, NovoPayment—Latin America’s prepaid card leader— 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. The company projects issuing 35,000 to 45,000 Sambil GPR cards throughout Venezuela by year’s end. “Our Sambil customers requested a reloadable card, and we heard them loud and clear,” said Anabel Perez, CEO, NovoPayment. “This new card offers them a better alternative to manage their finances while enjoying a safe, convenient way to shop.” Currently, more than 65% of the country’s population has little or no access to credit cards or bank accounts, making the Sambil Visa GPR Card an ideal and empowering financial tool. The Sambil Visa GPR Card can be used at more than 150,000 points of sale around the country where Visa is accepted, including domestic Internet purchases. Cardholders choose the load amounts, which can range from a minimum initial load of 100 bolívares (US$50) to a maximum per-transaction load of 4,000 bolívares (US$2,000). The Card can be used for transactions via ATM, SMS, P2P and web transactions at www.sambilvisa.com, and can reloaded at any of Plata's 250 reloading centers in any amount denomination, up to 4,000 bolívares (US$ 2,000). Sambil Mall Caracas is among the largest shopping centers in Latin America with more than three million square feet of space and 500 stores, and is joined by sister properties in Valencia, Margarita, Maracaibo, San Cristóbal, Barquisimeto and soon Punto Fijo (Sambil Paraguaná). Both the Sambil Visa Gift Card and the Sambil Visa GPR Card are now available at Sambil Mall in Maracaibo, Venezuela’s second largest city. More than 10,000 people visit Sambil Maracaibo on a daily basis, with more than 50,000 visiting on weekends. The Sambil Visa GPR Card is the fourth reloadable prepaid program launched by NovoPayment in Venezuela. The company’s other GPR programs in the country are Classic Plata, EDC Plata (utility/energy consumption) and Unica Plata (telecom/top-up)....
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Estimated General Purpose Spending Cards for Latin America’s Unbanked

NovoPayment, Inc., Latin America’s leading prepaid card service provider and program manager, 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. The company, which pioneered the payment category in the region, estimates a potential market of more than 300 million unbanked Latin Americans with a purchasing power of more than US$200 billion per year using prepaid spending cards by 2015. Such a development would provide access to POS, ATM, online transactions and mobile payments to a public that today relies almost exclusively on cash. “Our study revealed a significant market with the income, access to infrastructure and consumption behavior to be viable prepaid general purpose card users,” said NovoPayment founder and CEO Anabel Perez whose company’s cards are issued under the MasterCard, Maestro, Visa and Visa Electron acceptance brands. “Approximately 57% of the population has the need, the capacity, the means, and we believe the necessary economic and social incentives to warrant modern payment tools,” she added. “Prepaid general purpose cards have proved to be well suited for providing these services in a sustainable way.” The forecast which covers 15 countries – Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Guatemala, Ecuador, El Salvador, Honduras, Nicaragua, Panama, Peru, Mexico and Venezuela – is based on the measurement of such factors as size of labor force, poverty rates, wages, banking and mobile penetration, as well other metrics based on the company’s own experience in the field. “The combination of sustained economic growth, increasing intra-regional commerce and the prospect of major trade pacts present positive conditions for the growth of general purpose prepaid cards,” Perez said. “These events merit ongoing analysis and could push figures higher over time,” she added. The forecast is part of a larger study quantifying opportunities in Latin America for prepaid spending cards including the areas of wireless services, electricity, food vouchers and other key categories. In addition, the company also reaffirmed its objective of expanding to new Latin American markets and said it expected to make an announcement to that respect in the near future....
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