No exploration of powerful women in prepaid would be complete without Jane Thompson, the force behind prepaid programs for the world’s largest retailer and a trailblazer for women executives.
Eight years ago, Thompson joined Walmart’s executive team to start a new division in financial services. The breadth of Walmart’s global footprint and its connection to underbanked consumers generate an inherent nerve center for the company in the prepaid space.
Calling the shots is Thompson. She led the launch of the Walmart MoneyCard and the rollout of in-store Walmart MoneyCenters. Her role brought her to Capitol Hill three years ago where Walmart’s application for a banking license was met with resistance. So, Walmart plotted a new course to serve underbanked customers’ financial needs.
The Walmart MoneyCard is one of the nation’s best-selling and most affordable general purpose reloadable prepaid cards. It won Best-in-Category recognition in 2009 as Paybefore’s Best Consumer-Funded Prepaid Card. Meanwhile, Walmart’s MoneyCenters recently hit the 1,000-location mark with additional growth planned for 2010.
Thompson graduated from Harvard Business School with her husband, now a company CEO leading research into cancer cures. She was the first woman to attain partner status in the Chicago office of McKinsey & Company, a prominent management consulting firm. She went on to become the first female vice president at Sears and first woman to chair the Boys & Girls Clubs of Chicago. She also founded and leads Walmart’s Women Officers Network.
Thompson has two grown children and enjoys golf, tennis and traveling with her family.