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Prepaid Card utilize is increasing and that’s maybe perhaps not really a negative thing

Prepaid Card utilize is increasing and that’s maybe perhaps not really a negative thing

The WSJ states that the prepaid credit card company is booming and it is likely to reach $200 billion in income by 2013. The largest prepaid credit card business, Green Dot Corp., raised $160 million with its IPO final thirty days and it has seen its stock increase by 30 % since that time. The second-biggest business in the market, NetSpend Holdings Inc., hopes to increase $200 million in its very very own coming IPO. It is great news.

Prepaid cards are utilized as debit cards, using the distinction that they’re perhaps not connected to a bank account, but are drawing funds from a free account with all the issuing bank.