With all of the development that has occurred in the prepaid card arena over the past few years, it wouldn’t be unreasonable to consider further evolution unlikely. Yet the scope of the prepaid market continues to broaden, with new iterations of closed-loop, privatelabel cards good at a single retailer, as well as of universally accepted open-loop cards, surfacing at seemingly every turn. “We are definitely looking at a moving target,” says Ed Lawrence, managing director of Auriemma Consulting, a Westbury, New York-based financial industry consulting firm.
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