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WHY DON’T THEY HAVE ACCOUNTS? Comparison of reasons why Never-Banked and Previously Banked households do not have a bank account. Banks do not offer needed products/servicesBanks do not have convenient hours/locationsBank fees/balance requirements are too high Dont like/trust banks Cant open an account Do not need or want an account Do not have enough money 0% 5% 10% 15% 20% 25% 30% 35% Never-Banked Previously Banked Source: 2011 FDIC National Survey of Unbanked and Underbanked Households, 9/2012. 6
MOBILE USAGE IS UBIQUITOUS It’s expected 90% of Half of U.S. that by phones sold Adults will 2012, smart in Q1 2012 adopt mobile phones will were web- banking by out number enabled 2012 PCs CTIA and Alix Partners, 2011 26
1. The underserved represent a varied market, with purchasing potential2. Prepaid cards provide this segment with a way to enter the financial market and manage money3. The Mobile RDC to Prepaid Card solution provides convenience for consumers, and check cashing revenue for providers4. Mobile RDC is in high demand and provides added value to mobile wallets