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Unbanked use prepaid visa cards to purchase things online. This just gets rid of the "tax" incurred when buying prepaid visa cards. Stat that would be int
by adrr 10y ago
Unbanked use prepaid visa cards to purchase things online. This just gets rid of the "tax" incurred when buying prepaid visa cards. Stat that would be interesting to see is smart phone penetration into this group of people.
Also unbanked can purchase amazon gift cards with cash.
- kristianc 10y agoI don't know about the US but here in the U.K. prepaid credit cards have all but disappeared.
- technotony 10y agoThey are growing really fast in the USA, mostly because the banking system here takes advantage of people much more than the banking system in the UK. Prepaid cards give people control over their financial lives, they are expensive but cheaper than overdraft fees and expensive credit lines. Growth is coming from younger demographics, so I'd say likely to keep coming: http://www.businessinsider.com/the-rise-of-reloadable-prepaid-cards-could-affect-the-way-millennials-approach-banking-2016-4-25 http://www.businessinsider.com/the-rise-of-reloadable-prepai...
- adders 10y agoThere is a current growth due to fintech startups like monzo, who are using prepaid cards to test the market