Prepaid cards: A growing market for the unbanked
By APSunday, October 3, 2010
Prepaid cards: A growing market for the unbanked
The market for prepaid cards is growing quickly. Used primarily by the poor, the cards carry Discover, Mastercard or Visa logos and can be used wherever those cards are accepted. They can come with significant fees, yet aren’t regulated to the same extent as credit and debit cards.
A look at how much was loaded unto prepaid cards in recent years, and estimates for coming years.
2006 — $1.8 billion
2007 — $3.8 billion
2008 — $8.7 billion
2009 — $18.3 billion
2010 — $36.6 billion+
2011 — $67.7 billion+
2012 — $118.5 billion+
+ Forecasts
Source: Network Branded Prepaid Card Association
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