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Prepaid card models: a study in diversity

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  • Julia S. Cheney

Abstract

Summary: On January 13, 2005, the Payment Cards Center of the Federal Reserve Bank of Philadelphia sponsored a workshop led by Gary Palmer, chief operating officer and co-founder of WildCard Systems, to examine the developing market for prepaid card products. Palmer described several distinct types of prepaid card value propositions, each with its own set of operational needs and customer servicing requirements. In addition, Palmer described new roles that exist in prepaid card programs that are not present in traditional credit and debit card programs. He emphasized that the variety of these programs? requirements and the breadth of third party participants create complexities not only in the servicing of these accounts but also in the economics of these programs and the regulation of this payments category.

Suggested Citation

  • Julia S. Cheney, 2005. "Prepaid card models: a study in diversity," Consumer Finance Institute discussion papers 05-03, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpdp:05-03
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/consumer-finance/discussion-papers/PrepaidCardModels_Palmer_FINAL.pdf
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    Cited by:

    1. Mark Furletti & Christopher Ody, 2006. "Another look at credit card pricing and its disclosure: Is the semi-annual pricing data reported by credit card issuers to the Fed helpful to consumers or researchers?," Consumer Finance Institute discussion papers 06-08, Federal Reserve Bank of Philadelphia.
    2. Julia S. Cheney & Sherrie L. W. Rhine, 2006. "Prepaid cards: an important innovation in financial services," Consumer Finance Institute discussion papers 06-07, Federal Reserve Bank of Philadelphia.

    More about this item

    Keywords

    Stored-value cards;

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