Paybefore Recognizes Consumer Champions at APEX; Amex Serve Takes Crown (March 3, 2014)
Paybefore held a special 2014 Paybefore Awards presentation on the kickoff day of All Payments Expo (APEX) in Las Vegas today, honoring three winners in the new Consumer Champion category. In a preview of tomorrow’s full Paybefore Awards ceremony, Paybefore recognized American Express Serve, UPside Visa Prepaid Card from Banking Up and Walmart MoneyCard Reloadable Prepaid Cards.
The category was judged using the Center for Financial Services Innovation’s Compass Guide to Prepaid and CFSI President and CEO Jennifer Tescher helped present the awards. “The Consumer Champion category was so competitive because of a dramatic improvement in the overall quality of general-purpose prepaid over the last few years. Increasingly, consumers are at the center of prepaid product design decisions,” she said.
“You all are doing significant work that not only helps consumers but also enhances the perception of the prepaid industry,” Paybefore CEO Marilyn Bochicchio told the winners.
The three winning programs were evaluated with a scoring rubric created by the CFSI staff to coincide with the Compass Principles of embracing inclusion, building trust, creating opportunity and promoting success. The competition was tight; the three final scores only differed by one-tenth of a point.
American Express Serve, which was re-launched from a digital-only account to a full-featured prepaid account in 2013 was named the Best-in-Category honoree. “American Express has been taking prepaid by storm over the last few years by slashing fees and adding services, such as mobile deposit capture, roadside assistance, merchant offers and access to the Isis mobile wallet, among other features,” said Paybefore Editor-in-Chief Loraine DeBonis.
