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2012 U.S. Closed-Loop Issuers Survey (Calendar Year 2011)

Page One

Thank you for agreeing to help Mercator Advisory Group identify the total size of the U.S. closed-loop card market. All responses will be held in the strictest confidence. The data you provide will be used to create aggregate numbers in such a way that reverse engineering any individual's response would be impossible. This survey was compiled based on the questions Mercator has been asked by the industry. It will provide information that the industry can use to measure itself and manage regulatory and reputational risks. The survey has three pages and 16 questions.

This survey is capturing data for the calendar year 2011. Please be careful not to include load transactions / activations that occurred before or after calendar year 2011.

If you have any questions regarding this survey, please contact:

Ben Jackson
Senior Analyst, Prepaid Advisory Service
Mercator Advisory Group
781-419-1706
bjackson@mercatoradvisorygroup.com
www.mercatoradvisorygroup.com
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