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January 31, 2010

Awards highlight resilience, innovation

As the payments world adjusts to the post-credit crunch era, this years Cards and Payments Europe event will reflect the reshaping of business models a new era demands Last years Cards and Payments Europe event and awards were very much defined by the need to stay strong in an unpredictable economic climate, as payment players around the world shared strategies on reducing risk and preserving profitability.

By Verdict Staff

As the payments world adjusts to the post-credit crunch era, this year’s Cards and Payments Europe event will reflect the reshaping of business models a new era demands. Nominations are now welcome from Cards International readers who wish to highlight the outstanding product launches and innovations from 2009.

 

Last year’s Cards and Payments Europe event and awards were very much defined by the need to stay strong in an unpredictable economic climate, as payment players around the world shared strategies on reducing risk and preserving profitability.

The need for a more cautious approach in the short-term appears to have been the correct one, as many markets are now firmly out of recession. Banks are beginning to lend and invest again, mergers and acquisitions are starting to increase in number and size, and payment players are reporting a much more optimistic atmosphere.

New era of positivity

To reflect this new air of positivity, this year’s Cards and Payments Europe event and awards will be heading to Madrid in Spain on 18-19 May, where the world’s leading cards and payment players will gather to share their market-leading business insights and best practices, and how they have reshaped their business models to adapt to this new era.

Cards and Payments Europe 2010 has already secured a high-profile line-up of speakers from around the globe, who will discuss topics such as loyalty and co-branding; collections and receivables in the current climate; leveraging contactless payment and other new technologies; and the continued growth of debit. VRL, publisher of Cards International, will also present exclusive research on consumer attitudes to cards and payments across the region.

As always, our Gala Awards dinner to be held on the evening of 18 May is sure to be a highlight of the event, as it is one of the few awards ceremonies that is truly global in scope, acknowledging and rewarding outstanding product launches, innovations and contributions in the cards and payments sector over the last 12 months.

Awards will be determined on a global basis, with specific criteria for each individual award. The award categories will be applied for activities in the last 12 months, not general category excellence.

As editor of Cards International, I would like to ask our readers to submit their nominations for this year’s awards. Full information on the awards categories and nomination submissions can be found on www.vrl-financial-news.com.

Please email or post your nominations to me, Victoria Conroy, at victoria.conroy@vrlfinancialnews.com. The deadline for receipt of nominations is 26 March 2009.

The Cards International team and a panel of esteemed judges drawn from the global cards and payments sector will then draw up a shortlist of nominees, with the winners to be announced at the Cards & Payments Europe Gala Awards dinner.

On behalf of the Cards International team, I hope you will be able to join us for what promises to be a highly engaging and lively conference.

Awards categories

Award 1: Best Merger & Acquisition

Criteria:

• Acquisition or merger that fundamentally changed the nature of the organisation’s business, market position, market conditions or industry.

• Financially successful acquisition (price, potential, etc).

• Significant future opportunities to the business from the M & A activity.

Award 2: Best New Credit Card Product Launch

Criteria:

• A new or re-launched credit card product with significant unique features or marketing strategies or programmes

• New to issuer, market or both

• Acquired significant number of new accounts in six months following launch

Award 3: Best New Debit Card Product Launch

Criteria:

• A new or re-launched debit card product with significant unique features, or marketing strategies or programmes

• New to issuer, market or both

• Acquired significant number of new accounts in six months following launch

Award 4: Best New Prepaid Card Product Launch

Criteria:

• A new prepaid card product with significant unique features, or marketing strategies or programmes

• New to issuer, market or both

• Acquired significant number of new accounts in six months following launch

Award 5: Best New Co-branded or Affinity Card Product Launch

Criteria:

• Acquired significant number of new accounts in six months following launch

• A new co-branded or affinity card product with unique partners, partnership strategy, features, or marketing strategies or programmes

• New to issuer, market or both

Award 6: Best Loyalty Programme Innovation

Criteria:

• The issuer that has developed a truly new and unique innovation for its loyalty programme. This could include a technology application, marketing programme, partnership strategy, new loyalty programme design or other significant facet of a loyalty programme.

Award 7: Best Commercial Credit Card Issuer

Criteria:

• Issuer must have a significant market share of at least one type of commercial card in at least one market, and preferably multiple markets.

• Products or marketing programmes should be unique or new to the market.

• In the last 12 months issuer has introduced new product, significantly increased market share

Award 8: Best Card Processor of the Year

Criteria:

• A processor that has made a major change to the industry through new services, technological advancements, acquisitions or other significant activities.

Award 9: Merchant Acquirer of the Year

Criteria:

• A merchant acquirer that has made a major change to the industry through expansion, technological advancements, acquisitions or other significant activities.

Award 10: Most Promising New Entrant

Criteria:

• A promising start-up which is set to prosper in the years ahead and has brought creativity and innovation to the cards & payments market.

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