Prepaid MasterCard leans toward convenience, not cost-savings

Prepaid MasterCard leans toward convenience, not cost-savings
Tags: Associations / Conferences, Bank / Credit Union, Debit / Credit, Other, Transaction Processing, Trends / Statistics
October 2, 2005

Scotsman.com: The new Cashplus prepaid MasterCard card, which allows consumers to load funds, hit the United Kingdom last month. Customers do not need bank accounts, nor are they required to undergo a credit check to be eligible for Cashplus. The card, which can be loaded at one of 14,500 Post Office branches throughout the U.K., is not visually branded as a prepaid product.

The card costs £9.95 (U.S. $17.47). Consumers then can choose between paying a monthly subscription fee of £4.95 (U.S. $8.69) or £1 (U.S. $1.76) per transaction.