It is hard to believe, but EBT (Electronic Benefits Transfer) is now a mature sub-industry within the Electronic Payments industry. It has been 25 years since the first statewide rollout of EBT in Maryland to replace paper food stamps.
Congress has mandate that all States use EBT technology to deliver SNAP (formerly food stamps) benefit which they all did by 2002.
Now the Woman, Infants and Children program is also well on its way to meetings it own 2020 Congressional order to roll out EBT nationwide. Over 40% of WIC participants are now on EBT. WIC like SNAP is a supplemental nutrition program run by the federal Agriculture Department.
But with the rapid changes in the electronic payment industry, as well as the changes in the providers of EBT services, we wonder what the future holds for this multi-billion dollar business? Will its future development mirror changes in the overall electronic payments industry.
To help answer this question, this year’s EBT—The Next Generation conference (November 6-8, Sheraton Sand Key, Clearwater Beach, Fl,) has two breakout sessions dedicated to looking at the future of EBT.
The first session is Strategies for Long-Term EBT Viability. In this session, the Ag Department’s Food and Nutrition Service, which oversees both SNAP and WIC will discuss its 2014 Request for Information on EBT. The purpose of the RFI was to identify short and long-term strategies for the Future of EBT and action plans to move these strategies forward.
The second session is The Future of EBT, where industry players will look 5-10 years down the road to discuss what the grocery shopping experience may possibly look like. From EMV Cards to mobile applications, other payment technology that might also be in use will be explored, along with the capabilities of SNAP and WIC clients in using this technology.
gotten such a powerful boost and endorsement.
But with the rapid changes in the electronic payment industry, as well as the changes in the providers of EBT services, we wonder what the future holds for this multi-billion dollar business? A business that has churned out billions of transactions and millions of cardholders. Will its future development mirror changes in the overall electronic payments industry. Will new players be attracted to the business, drawn by its high volumes and relatively stable risk profile.
To help answer these question, this year’s EBT—The Next Generation conference (November 6-8, Sheraton Sand Key, Clearwater Beach, Fl,) has two breakout sessions dedicated to looking at the future of EBT.
The first session is Strategies for Long-Term EBT Viability. In this session, the Ag Department’s Food and Nutrition Service, which oversees both SNAP and WIC will discuss its 2014 Request for Information on EBT. The purpose of the RFI was to identify short and long-term strategies for the Future of EBT and action plans to move these strategies forward.