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In spite of the fact that the industry has seen price compression for the last two years, prepaid card program managers and issuers have found it difficult to shake a perception held by the public that their cards are expensive.
Here is the messaging problem: the oft-heard question about the product is “aren’t those cards loaded with fees?”
Details from an unintentionally-leaked document show that BBVA's recent acquisition of Simple may not be going as planned. In other words, the deal may be turning out as the skeptics expected. In this blog entry, I sided with the latter group.
Current Simple CEO Josh Reich mistakenly emailed a draft presentation to a reporter at Quartz magazine which outlined
Their findings in "Why Americans Use Prepaid Cards" come from telephone surveys that Pew conducted over the course of last year. They presented
If a way to make people with prepaid cards decide to save money remains an unsolved mystery, then perhaps one solution might be to bring the reward that could come from savings into the sightlines of those individuals.
The logic behind PiggyMojo, a small company whose new savings program is
One of the themes that came away from last week's Prepaid Expo in Orlando was the re-emergence of credit building products for GPR cards. In fact, eCredable, ClearNow and WilliamPaid have brought new credit builders to market already. Moreover, representatives of other companies hinted that their divisions have their own concepts in development.
The failure of Pay Rent Build Credit has meant that any mention of the idea is
The emergence of GPR cards that facilitate prepaid cell phone top-ups speaks to a rule of innovation - the adoption of anything beneficial to consumers flourishes when it simultaneously serves to bring profits to suppliers.
If you are the kind of person that can cash flow a month's payment on a cell
Making bank for the underbanked turns out to be a really good business lately. In a generous year for investors in the publicly-traded markets, firms serving the underbanked have far outpaced their brethren in the S&P 500.
In my unscientific non-weighted analysis of returns for the fourteen months (approximately)