Thieves see the small prepaid card as something easy to grab, so when they burglarize a c-store, prepaid cards are often included in the many items they steal.
In addition to distributors being robbed, c-stores themselves also become a target for prepaid burglaries. The attraction of marketable activated calling cards, and cold hard cash, is too much for the bad guys, and many distributors go home empty-handed after being robbed of both. On any given day, a distributor can service between 50 and 150 accounts, dropping off product and picking up cash. Distributors are often burglarized when they service their accounts. Thieves are taking advantage of the vulnerability that is caused by the fact that most distributors are still transacting with live prepaid cards. We decided that it was time to take an in-depth look at this insidious problem, so we convened a virtual roundtable with a few key people in the industry to discuss the undisclosed truths about the impact of crime on prepaid – How frequently does it happen? Who is being targeted? Why are they being targeted? And what are some viable solutions to combat this growing problem?īecause of the viability of the prepaid card as a cash commodity, thieves have begun to see prepaid cards simply as cash in the hand. A recent rise in crime, in the form of the thefts and burglaries, has added to the complications in making a profit in prepaid. But the general state of the economy is not the only factor affecting revenues.
Many prepaid business executives talk about revenues going up, and going down, rising and falling as the global economy vacillates. In our continuing dialogue with industry executives about the serious business problems they are facing in the industry, there are several themes that arise frequently.
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