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Pre-paid bank cards set to invade Britain

August 11, 2005

Datamonitor: Credit card providers are hoping to introduce pre-paid cards to United Kingdom consumers in an effort to draw in millions of new customers who are unable to obtain a bank account or are plagued by bad credit histories.

According to a Financial Times report, there are millions of consumers in the U.K. who are without access to a card-payment service because they do not have bank cards or bank accounts. Though the pre-paid payment cards are already popular in the United States and the rest of Europe, card providers see the U.K. as a vastly untapped market.

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