Global Technology Partners specializes in creating innovative processing solutions internationally in the pre-paid card category. David Dearman, vice president of the company spoke on plans to provide Visa pre paid cards and particalurly its plans for Nigeria.

Global Technology Partners (GTP) Card
The primary difference in the models will be that the GTP platform will open up full banking services to ALL Africans, not just the “bankable” Africans.  With over 10 years of experience in the US markets, the GTP group of affiliated companies now provide payroll services for some of the largest companies in America, saving these companies millions of dollars a year by using a prepaid card. GTP is a specialized processor (100% prepaid experts) that works closely with banks to implement successful programs leveraging our experience.  With our card to card transfer feature, one family member can be in Lagos with a card, the other in the UK, Italy or France and send money in real time through the GTP proprietary remittance system. 
Assessment of Prepaid Card Business in Africa
GTP brought the first Prepaid Visa “Classic” card to West Africa in December of 2007 with BIB bank in Ouagadougou, Burkina Faso (Africards Visa Card) who sponsored the program.  BIB won the award for bringing the newest technology in card programs to the region.  BIB’s card program has been highly successful and consumers are enjoying the benefits of having the first Prepaid Visa “Classic” re-loadable card in the region that can be used worldwide.  The prepaid market in Africa is still in its infancy stages. 
Giving Value and Changing the Market Dynamics
Since GTP is a Visa approved international processor, we work with the banks to create a financial model that works for the consumer.  Our experience has taught us that the consumer must see the value proposition in the product before they will give it a test drive.
Reservations for Prepaid Cards
It’s the prepaid card that gives this security to the consumer.  Consumers would rather shop online with a prepaid card and not their credit card or debit card as that could compromise their primary banking account cards or have issue with identity theft. 
Footprints in Africa
GTP has been working in Africa for more than 3 years now and was the first to enter the prepaid sector with the features our system deploys.  We are working with many major financial institutions to bring this product and technology to the continent.  We performed our pilot in Burkina Faso, and have begun implementation with the CTMI for the West African region.  We have other banks we are working with in Cameroon, Mali, Mauritania, Senegal, Nigeria, Gambia and Kenya. (And others)
Nigeria Roll Out Plans and Local Partners
GTP is in current discussions with various large Nigerian banking partners and cannot disclose these partners at this time.  We will be able to make an announcement within the next 30 days as to who these partners will be.
Benefits for Financial Institutions, Merchants and End Users
Under the current worldwide financial crisis, financial institutions are looking for additional income streams to strengthen their balance sheets.  The Prepaid sector provides the bank a new consumer and a new income stream, thus increasing their deposits and increasing the banks profitability.  Merchants will have more POS machines making it more convenient to the consumer to make additional purchases without having to carry so much cash. 
Visa and other Prepaid Cards
Visa is the primary brand in Africa.  In the West African region, Visa and its member banks have more ATM machines than any other network.
Regulatory Compliance for Cards
GTP works with the banks under the rules of each specific country along with the Central Bank.  The cards do require a form of government issued ID and a signed application to mitigate AML and Know Your Customer requirements.  Our platform is a flexible system that can be modified to allow for velocity limitations to comply with local law.
Market Positions in US
Our CEO Mr. Bob Merrick co-founded FSV Payment Systems that is now the third largest processor for prepaid cards in the US.  We began GTP about four years ago as our international division to expand into the underserved regions and GTP has made Africa a strategic growth initiative for the next five years. At GTP, we are prepaid experts and not a group that provides multiple banking services as most competitors.
Opening a Local Office or Working through Partnership
GTP has formed a local company in Abidjan, Cote d’Ivoire and is currently opening an office in Abidjan.  We will also be opening an office later in the year in Lagos, Nigeria and Accra, Ghana.  We are currently discussing the idea of forming a new company and bringing in an African partner to assist us in these operations on an exclusive basis for the entire continent of Africa.
Nigerian Market Ripe For Mass Prepaid Cards? Definitely. The GTP prepaid platform with its feature rich advantages will transform the way Nigerians conduct their financial business.  I see Nigeria as a prime market that will be the top market for prepaid in Africa.
Product Lines
GTP product lines include the basic general spend reloadable Visa Card, an International Money Remittance Visa Card, Visa Payroll Cards, Travel and Expense Cards, Vendor Payment Cards and Consumer/Merchant Gift Cards
Inclusion for the Unbanked And Microfinance In Nigeria
We are in current discussions with many microfinance groups in Nigeria and others across Africa.  This product will revolutionize the manner in which the unbanked can now enter the financial mainstream and be able to remit money at a very low cost.
Nigerians Should Expect
Nigerians should expect by third quarter of 2009 to have a Visa prepaid product that can be issued to almost anyone regardless of their financial stature and enter the worldwide financial mainstream.  They will now have the “options” that the other developed nations take for granted.  No bank account will be needed; the card IS your bank account