Private Prepaid Cards Take Lumps From Recession: Survey - 04..2009 - U.S. Banker ArticleU.S. Banker | April 2009
By Joseph Rosta
Private-label prepaid cards are losing their luster because of the recession, according to an Aite Group research note based on a survey of 21 card industry executives.
Eighty-two percent of those participating say current economic conditions are have a “somewhat to very adverse” impact on the sale of private-label cards, as expanding retailer bankruptcies stoke consumer fears they could be stuck holding worthless and unredeemable gift and other prepaid cards from defunct chain stores.
Continue Reading
0 comments