Case Study Describes Prepaid Card Use After Hurricanes

A disaster relief case study covering the history and challenges of delivering financial assistance during catastrophes will be presented by Midhael Brackney of the American Red Cross and Gregory Kerwin with JPMorgan Chase during the Feb. 15-17, 2006 Prepaid Card Expo in Orlando, Fla.

The case study will examine issues of how populations vulnerable to financial disruptions are addressed, especially for the unbanked, and how financial institutions play a key role in enabling that financial response. There will also be a focus on lessons learned from the response to hurricanes Katrina and Rita, and the plans and projections for future emergency funds disbursement.

“Working with JPMorgan Chase, we created a prepaid card program which has benefited not only those affected by disaster, but also our donors, since the prepaid cards enable a more efficient, effective and less costly method of financial assistance distribution,” Michael Brackney, manager of client service program development for the American Red Cross explained.

“JPMorgan Chase is proud to have developed a market-leading prepaid card solution for the American Red Cross that speeds delivery of financial assistance to victims of disasters at a time when it is most needed,” W. Gregory Kerwick, global VP, stored value cards and supplier & payer payment channels with JPMorgan Chase said.

“The American Red Cross case study is an excellent example of how prepaid card products are increasingly benefiting not just consumers, but also large corporations and government agencies using prepaid cards in applications that streamline the distribution of payments, government subsidies, and corporate/government benefits and compensation,” said Jonathan A. Weiner, president of Prepaid Media. “Bringing these important high level case studies and industry speakers together with key market players to create a forum for open discussion has been the primary goal of the Prepaid Card Expo.”

Topics Catastrophe Natural Disasters Hurricane