Is there a difference between perception and reality?

Perception

Prepaid cards are primarily attractive to the sub-prime or unbanked population.

Reality

57% of consumers who expect to buy a prepaid card in the next 12 months stated they were creditworthy consumers with incomes above €40,000 annually.

Perception

Consumers are averse to prepaid cards largely due to fees.

Reality

The majority of consumers believe initial purchase fees are completely fair and acceptable.

Perception

A card issuer with a credit of debit portfolio will cannibalize its existing business by launching a prepaid product.

Reality

Consumers regard prepaid cards as a value-add to their existing credit and debit cards rather than as a substitute.

 

Of course, these examples just begin to illuminate the depth of information uncovered in First Data's research.

Perception

Prepaid cards are primarily attractive to the sub-prime or unbanked population.

Reality

57% of consumers who expect to buy a prepaid card in the next 12 months stated they were creditworthy consumers with incomes above €40,000 annually.

Perception

Consumers are averse to prepaid cards largely due to fees.

Reality

The majority of consumers believe initial purchase fees are completely fair and acceptable.

Perception

A card issuer with a credit of debit portfolio will cannibalize its existing business by launching a prepaid product.

Reality

Consumers regard prepaid cards as a value-add to their existing credit and debit cards rather than as a substitute.

 

Of course, these examples just begin to illuminate the depth of information uncovered in First Data's research.