Report: Banks can attract young, underbanked with prepaid cards

05/8/2013 | Bank Systems & Technology

Using prepaid cards to attract young consumers and the underbanked presents an opportunity for banks to turn them into loyal customers, but only if they offer products focused on customer needs, according to a Javelin Strategy & Research report. The study found that 21% of those ages 25-34 have a prepaid product, and 19% of those ages 18-24 have one.

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