Network Branded Prepaid Cards

General purpose reloadable prepaid cards are one of the fastest growing segments of the consumer financial sector. While retail banking operations have shrunk in response to the financial crisis that began in 2008, the recession and regulatory responses that followed, the market for prepaid cards has grown rapidly to fill the niche opened up by the retrenchment of traditional retail banking. Although prepaid cards historically catered to low-income consumers there has been a rapid mainstreaming of prepaid card usage, as reflected by the entry of retail financial stalwarts such as American Express, J.P. Morgan Chase, U.S. Bancorp, and BB&T. Prepaid cards are rapidly being recognized as a third mainstream electronic payment method, alongside debit and credit cards.