Unbanked consumers increasingly use prepaid cards

10/5/2010 | Bloomberg Businessweek

The market for prepaid cards, which are primarily used by unbanked consumers, is rapidly growing. The cards carry the logos of major credit card companies, including Visa, MasterCard and Discover, and can be used much like a credit card, although they aren't regulated as such. In 2006, $1.8 billion was loaded onto prepaid cards, while $36.6 billion is forecast to be loaded onto the cards this year.

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