The prepaid mechanism is ripe for massive growth as government initiatives combine with commercial opportunities of usage in the Middle East, according to NovoPay chief operating officer Colin Loubser.

Loubser, who is considered a global expert on prepaid opportunities, was speaking ahead of the GCC Cards summit 2010.

He said that the prepaid segment is predicted to drive 40 per cent of total consumer spend globally and the region is no exception.

He will be a key speaker on the topic maximising the prepaid opportunity and creating the right brand for today's consumer at the summit.

The GCC Cards Summit 2010 will provide a platform to discuss and create a framework for market players to share success strategies on customer delivery and service, product innovation and bottom-line management.

It is set to be held at Mšvenpick Hotel from November 1 to 3.

More than 150 delegates from GCC, Europe and Asian sub-continent are expected to take part in the event.-TradeArabia News Service