While we have been offering prepaid Visa debit cards for some time, we have only recently installed the counter display unit. This has boosted sales. Customers can see the four products available and understand each. These are sold and recharged directly through our software. They are a great replacement for the BOPO product from the recently collapsed Bill Express, especially the Canvas card. The margin is good. Selling the card and starting an account connects the business with the recharge opportunity.
I like this type of recharge business because of the habit basis – this is something newsagents are good at. Also, there is good research suggesting that selling the card means you are more likely to be used for recharge in the future.
Although I once bitten twice shy with the bopo model, what involved with zapping them ie do we need a machine like the BE terminal? What are the margins?
Is the BOPO card now gone? I was in a newsagents in Sydney today and their TV screen was still advertising it!!!!