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Tag Archives: underbanked

Prepaid Cards and Unbanked, Underbanked, and Banked Customers

Prepaid cards are poised for dramatic growth, according to a recent study from MasterCard. Worldwide, the market for prepaid cards is projected to nearly quadruple from $210 billion in 2010 to $822 billion in 2017. That’s an impressive 22% CAGR. The US had 73% of the prepaid card market in 2010. That share will likely […]

What are the Obstacles to Serving the Underbanked?

It’s no secret that, especially since the recession, many American households are managing their finances without traditional bank accounts. According to the FDIC’s most recent survey of American households, nearly a third of American households are “unbanked” or “underbanked.” Here’s how the FDIC defines these terms. Unbanked households have neither a checking account nor a […]