Today there are many choices in the prepaid space. From the pioneer known as the gift card to the modern day reloadable card, there are many different types of card available to consumers.
The wide spectrum of cards includes:
- Gift cards - usually loaded with an amount just once
- Payroll cards - loaded via your employer
- Reloadable cards - loaded via your checking or savings account, a credit or debit card, or cash
- Health savings accounts - usually loaded via your employer
To borrow from a well-known television commercial, “What’s in your wallet?”
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1 Jonathan Peterson // Oct 25, 2007 at 11:50 am
SECU ($15B, NC) announced this month the roll out of stored value cards in preparation for the holiday season. Prepaid cards are one of the fastest-growing segments of the payments industry, and the market is expected to reach $263 billion by 2009. Gift cards are just one use of these versatile cards which can be loaded with a set amount and are accepted at retail stores and online merchants.
At Callahan’s We’re taking a look next week at this timely topic during the webinar “Expanding Your Card Strategy with Stored Value Cards”. Find out more at http://www.creditunions.com/events/webinars/webplate.asp?event=200
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