The global prepaid market is on track to achieve strong growth over the next three years and the revenues will hit $800 billion by 2017, an expert said.

“The increasing awareness of prepaid products among consumers is creating new expectations and marketers must gear up and fast develop new, engaging and relevant card products,” said Douglas Blakey, group editor for Consumer Finance at Timetric Financial Services.

Leading experts will discuss next steps in pre-paid revolution at the region’s fifth annual conference dedicated to the prepaid sector, “Prepaid Summit: Middle East”, taking place in Dubai in March.

“This year’s conference agenda is well-equipped to showcase global growth phenomena in a local context.  

“In fact, our speakers will consider how this role is reversed by taking a look through the regional lens to explore how prepaid in the Mena region reflects the global growth,” Blakey said.

More than 150 industry leaders will listen to the summit’s expert speaker line-up throw light on topics such as the most region-relevant regulation, map the evolution of prepaid and consider how prepaid is changing the corporate and consumer financial service markets.

Visa is again supporting the event - scheduled for March 19 at Dubai’s Conrad Hotel - as title sponsor.

He cited the key drivers influencing the regional prepaid market as increased mobile-enabled internet use and strong retail growth.

“The 2014 summit will bring the experts together to create a map for future. Prepaid continues to evolve across the Middle East, and the conference agenda clearly reflects this,” he added.

Blakey said the Annual Prepaid Middle East Awards will recognise developments made and performance achieved over the past 12 months with specific selection criteria for each individual award.

The deadline for awards nomination is February 3 and submissions can be made via the event website https://www.cardsinternational.com/event/prepaid-summit-middle-east-2014/awards/ - TradeArabia News Service