Card processors see potential in prepaid market

Card processors see potential in prepaid market
Tags: Bank / Credit Union, Debit / Credit, Transaction Processing
October 27, 2005

ePaynews.com: Card processors stand to benefit from prepaid debit and stored-value card transactions, with projections of $1.8 billion in revenue in 2005. A new survey from Aite Group predicts that by 2009, the market for prepaid card processing will be as large as that for debit and ATM card processing in 2004. Beyond 2009, Aite expects prepaid card processing to redefine competition among card issuers, with third-party processors well-placed to take market share as the card networks continue to struggle to handle prepaid card processing.