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MasterCard targets unbanked consumers
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.
North AmericaIndustry OrganizationsTransaction ProcessingEFT NetworksPrepaid / Stored Value / Gift CardUnderbanked / UnbankedDebit / CreditOtherBank / Credit Union
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