82% Concerned About Private Label Prepaid Cards

Private Prepaid Cards Take Lumps From Recession: Survey - 04..2009 - U.S. Banker Article

U.S. Banker | April 2009
By Joseph Rosta

Private-label prepaid cards are losing their luster because of the recession, according to an Aite Group research note based on a survey of 21 card industry executives.

Eighty-two percent of those participating say current economic conditions are have a “somewhat to very adverse” impact on the sale of private-label cards, as expanding retailer bankruptcies stoke consumer fears they could be stuck holding worthless and unredeemable gift and other prepaid cards from defunct chain stores.

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