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STUDY: Demand for prepaid cards grows among unbanked Latin Americans
June 16, 2008
ePaynews.com: By 2015, 324 million unbanked Latin Americans could have general-purpose prepaid cards, according to a study by NovoPayment. The Miami-based firm develops prepaid card programs for the unbanked in Latin America.NovoPayment says that by 2015, annual prepaid-card spending by unbanked Latin Americans could reach U.S. $214 billion a year. Prepaid cards will bring access to point-of-sale, ATM, mobile and online transactions to consumers who rely almost exclusively on cash, NovoPayment says.
Latin AmericaUnderbanked / UnbankedDebit / CreditNorth AmericaTransaction ProcessingRetail / Off-PremisesPrepaid / Stored Value / Gift CardBank / Credit UnionBranch TransformationInnovation
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