MasterCard targets unbanked consumers

MasterCard targets unbanked consumers
Tags: Associations / Conferences, Bank / Credit Union, Debit / Credit, EFT Networks, North America, Other, Prepaid / Stored Value / Gift Card, Transaction Processing, Underbanked / Unbanked
December 27, 2006

Digital Transactions: MasterCard Worldwide's new network of retailers, called MasterCard rePower, are allowing cardholders to use cash to add value to MasterCard- and Maestro-branded prepaid cards. Revenue originates with merchant-set reload fees paid by the cardholder. Issuers are not charged for reloads. The first rePower reload transaction took place Dec. 18 at a convenience store in Indianapolis. MasterCard is using Atlanta-based InComm Inc. to book rePower providers.