Prepaid Cards

American Banker: Why Do Prepaid Cards Have Such a Bad Rap?

by Jennifer Tescher

In this month's American Banker article CFSI President and CEO, Jennifer Tescher, reviews the crticisms against finance guru Suze Orman's Approved Card. The two main complaints have been fees and whether Orman can be trusted. Tescher walks through these concerns in plain ...

Posted: January 2012

Banks and Prepaid Cards Webinar Now Available Online

CFSI Webinar "Banks and Prepaid Cars: Trends, Public Policy and Innovations" was held on December 13, 2011 at 1:00 p.m. CST.

Speakers included:

  • Kimberly Gartner, Director, Advisory Services, Center for Financial Services Innovation
  • David Newville, Senior Policy Analyst, Center for Financial Services Innovation
  • Shekhar ...
Posted: December 2011

Selling Prepaid: The Compass Principles Highlighted

CFSI's Compass Principles have been highlighted in the Selling Prepaid e-Magazine. The article summarizes the four Compass Principles: Embrace Inclusion, Build Trust, Promote Success, Create Opportunity and asks for readers to provide feedback on the Compass Principles website. The article also ties together how the Compass ...

Posted: December 2011

Huffington Post: Fee-Dependent Prepaid Card Maker Moves Into Banking

Green Dot, the largest provider of prepaid cards, is buying the bank Bonneville Bancorp, in a bold move to offer prepaid cards through a new medium.

Arjan Schutte, Senior Advisor, CFSI, was quoted in an article in the Huffington Post explaining that Green ...

Posted: November 2011

Visa Rolls Out Prepaid Mobile Payments Product for the Underbanked

Visa announced it's new offering aimed to help underbanked in developing countries. Visa will be launching a prepaid mobile product to its customers in collaboration with MTN Mobile money (part of MTN Group, a telecommunications provider in Africa).

This product will enable account holders ...

Posted: November 2011

Wall Street Journal: 10 Tips About Prepaid Cards Before You Buy

CFSI's President and CEO, Jennifer Tescher, was quoted in the Wall Street Journal this week in an article spelling out the thought process a consumer should go through before buying a prepaid card. Tescher encourages consumers to shop around before purchasing.

Some additional ...

Posted: November 2011

Prepaid Expo

in Prepaid Cards
13, | NV

Rachel Schneider, VP of Innovation and Research, CFSI, will be moderating a panel at the Prepaid Expo in Las Vegas, Nevada. The panel will give attendees the opportunity to hear experts address what makes a high-quality prepaid card, and learn how a new ...

Cards for the Bank or Plastic Averse

Jennifer Tescher Featured in the Wall Street Journal on Prepaid Cards

This week in the Wall Street Journal, Jennifer Tescher was quoted regarding reloadable prepaid cards in article Cards for the Bank or Plastic Averse by Jennifer Walters, columnist for MarketWatch Chicago.

The article gave ...

Posted: October 2011

CFSI releases The Nonprofit Guide to Prepaid Cards

A new resource for nonprofit organizations serving underbanked consumers, sponsored by The Network Branded Prepaid Card Association (NBPCA) and NetSpend
 
Chicago, IL, September 15, 2010—Today the Center for Financial Services Innovation (CFSI), in collaboration with NBPCA,  NetSpend and the Annie E. Casey ...
Posted: September 2010

Highlights from the 4th Annual Underbanked Financial Services Forum

by Rachel Schneider

The Underbanked Financial Services Forum has become a bellwether for the industry serving the underbanked. Judging by this year’s Fourth Annual Forum, presented by SourceMedia with the Center for Financial Services Innovation (CFSI), the industry is strong. Despite challenging times for the ...

21 pp.   
Posted: August 2009

One Size Does Not Fit All: A Comparison of Monthly Financial Services Spending

by Rachel Schneider

The Center for Financial Services Innovation (CFSI) has conducted an investigation into the amounts that prepaid cardholders spend each month to conduct essential financial transactions, and compared that to the amounts that they would spend if they remained underbanked or used checking ...

Posted: June 2009

A Tool for Getting by or Getting Ahead? Consumers' Views on Prepaid Cards

by Sarah E. Gordon

Over the past decade, financial services companies have offered an increasing number of options to households who do not hold or regularly use conventional checking and savings accounts. Some options come from mainstream banks and companies, while others come from “fringe” financial ...

Posted: April 2009

Results of the NBPCA/CFSI Survey:

Network Branded Prepaid Card Association and CFSI release new data on prepaid card usage and underbanked consumers.  The data delivers results from a survey of 400 underbanked prepaid card users and offers information on consumer satisfaction levels, card usage, rankings of ...

Posted: April 2009

Network Branded Prepaid Card Association and The Center for Financial Services Innovation Release New Data on Prepaid Card Usage and Underbanked Consumers

The Network Branded Prepaid Card Association (NBPCA), a nonprofit, inter-industry trade association created to advance the success of branded prepaid cards, (cards usable wherever American Express, Discover, MasterCard or Visa cards are accepted), and the Center for Financial Services Innovation, the nation’s ...

Posted: April 2009

The Industry Forecast for Prepaid Cards, 2009

by Rachel Schneider

More than one-third of the 40 million underbanked individuals in the United States would rather use a prepaid card than a checking account for basic financial transactions if costs were equal. Underbanked consumers say they appreciate the convenience, transparency, and privacy of ...

Posted: March 2009

Prepaid Cards vs. Checking Accounts inBrief

Inform your underbanked strategy with the Prepaid Cards vs. Checking Accounts inBrief and take advantage of this newly released segmentation data.  Do you want to bring more underbanked consumers into deeper financial relationships with your institution/organization? Then, you should read this inBrief ...

Posted: September 2008

Nonprofit Distribution of Prepaid Cards

by Rachel Schneider
This report explores experimentation in nonprofit distribution and marketing of prepaid debit cards to underbanked consumers. We focus on three community organizations to discover the potential role for such groups in distributing financial services.
 
Community organizations play a critical role in the lives ...
17 pp.   
Posted: March 4, 2008

Prepaid Card Webinar

in Prepaid Cards
July 18, 2007
Most banks and credit unions turn away thousands of people each month who walk into their lobby to open a checking or savings account. Many may also be turning away credit card applicants and cashing thousands of on-us checks to non-account holders. ...

Prepaid Cards Fact Sheet

Posted: June 2007

Cardholder Use of General Spending Prepaid Cards: A Closer Look at the Market

by Jennifer Tescher

Branded reloadable general spending cards are gaining traction with consumer groups making the prepaid card market one of the fastest changing segments of the financial services industry. The recent entry of general spending card providers to the marketplace and the proprietary nature ...

22 pp.   
Posted: February 2007

Distributing Prepaid Cards Through Worker Centers

Distributing Prepaid Cards Through Worker Centers: A Gateway to Asset Building for Low-Income Households

A collaborative pilot program between the Center for Community Change and the Center for Financial Resources has been established to engage worker centers as a primary point-of-access to pre-paid ...

Posted: October 31, 2006

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