Prepaid Evolution and the Virtues of Vertical Integration
September 30, 2010
FSV Payment Systems was founded in 1999 and is a vertically integrated program manager and processor for a variety of prepaid programs including payroll, rebates,loyalty and promotions, general purpose reloadable (GPR) and gift. This summer,
the Houston-based company announced that Richard (Rick) Savard, a board member since 2009 and former Net-Spend CEO, would take the company reins. Savard succeeds Jon Palmer, who served as FSV president and CEO since 2005. Palmer has moved into a director and strategic consulting role for FSV and is serving as chairman of the Network Branded Prepaid Card Association (NBPCA). Paybefore had a chance to speak with Savard about his new role at FSV, the explosive growth opportunity he predicts for prepaid and what keeps him awake at night.
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