Prepaid cards 'boosting providers' profits'
05 March 2010 16:23:35
 |
| Prepaid cards are continuing to increase in popularity. |
The rise of prepaid cards, which do not have credit lines and allow consumers to spend only the money they load on them, has been gaining momentum in recent months.
Indeed, industry analysts expect the prepaid card market to grow by 22% per year for each of the next three years, according to a new Associated Press report.
One of those observers, William Blair & Co's David Long, explained that the popularity of the cards is helping providers financially as they increasingly rival more conventional payment methods.
"Prepaid growth is contributing to the increase in card use over paper forms of payment [cash and cheques]," he said in an investment note quoted by the news provider.
Earlier this week, Prepaid Financial Services claimed that prepaid cards would be an ideal choice for football fans heading to this summer's World Cup in South Africa.
‹ Back
Other Credit cards News
-
Bank withdraws charity credit card scheme
Lloyds Banking Group will no longer offer charity credit cards. -
Nearly one in five new retirees owe money
Many retirees have outstanding credit card debts. -
Prepaid travel cards for gap year trips
Prepaid travel cards offer a safety net to young 'gappers'. -
Credit card use to rise in January
More people expect to rely on credit cards in January.
All Credit cards News
Other Home Page News
-
Are credit cards facing a midlife crisis?
Credit cards - are they going out of fashion? -
Ofcom: UK enjoying faster broadband speeds
Many Britons switched to faster broadband deals last year. -
Bank withdraws charity credit card scheme
Lloyds Banking Group will no longer offer charity credit cards. -
Smart meters 'will not be compulsory'
Smart meters feed information back to the supplier
All News Stories
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.