The changing face of the prepaid cards industry in the Middle East and North Africa (Mena) will be discussed at an upcoming summit in Dubai.

The sixth Prepaid Summit: Middle East will take place on March 18 at the Westin Dubai Mina Seyahi, said a statement.

Douglas Blakey, group editor for Consumer Finance at the event organiser’s, Timetric Financial Services, said more than 150 global and regional industry players are set to join the annual event with speakers ready to table the dramatically changing landscape facing the sector.

Visa is on-board as the event sponsor.


“Prepaid has seen incredible growth over the six years that we have engaged with this annual event, and presently we are witnessing a ‘sea change’ which can fuel the sector to even greater heights,” he said.

As the region’s cashless payment sector experiences rapid growth, the summit looks to award and recognise industry players who have made significant contribution to its development.

This year’s categories have doubled to feature 10 awards, arousing the interest of more than 44 nominations locally and regionally.


“All the nominations play a vital role in the summit and in the global industry, acting as a driving force to encourage sector players to energise innovation,” said Blakey.


“Indeed, the prepaid landscape has spurred on a new customer profile and this means that marketers and solutions providers must look to answer to this growing demand. The award ceremony looks to recognise such efforts and ideas which are instrumental to the sector,” he said.


The summit represents ‘a smorgasbord of current and emerging trends’, and includes efficiency from payroll systems, corporate travel expenditure management, creative use of corporate reward programmes and retail loyalty schemes, as well as innovative approaches to branding and marketing, he noted.


Other sessions will include discussions on multiple-currency prepaid travel cards, the regional landscape, the regulatory framework affecting business practices, as well as security measures for corporate and private data protection.


“The summit agenda is designed to explore the vision of a smarter, safer, more efficient future of the prepaid industry; an industry not afraid to take a new perspective,” said Blakey.


He indicated that confirmed delegates include decision-makers representing banking, cards and financial services, technology providers, retailers, researchers and analysts.

“The summit provides a timely platform to discuss regional trends and challenges and so to ensure the continued growth of prepaid Mena-wide,” Blakey added. - TradeArabia News Service