Prepaid Credit Card Market

Prepaid Credit Card Market

  • Submitted By: hawer
  • Date Submitted: 09/07/2015 3:25 AM
  • Category: Technology
  • Words: 1013
  • Page: 5

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Prepaid Credit Card Market - Global
Industry Analysis, Size, Share, Growth,
Trends and Forecast 2015 – 2023

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The introduction of internet technology in banking sector is expected to boost the demand for cashless transaction
among banking customers. However, a large number of banking customers are using cash and traditional banking
products such as cheques and demand draft instead of credit and debit cards for daily financial transaction. This is
due to the fear of hidden cost and convenience issue associated with cashless payment cards. The banking sector is
trying to overcome these issues through offering prepaid credit cards.
Browse the full Prepaid Credit Card Market report at
Prepaid credit card looks similar to a credit or debit card with a card number, brand and signature field on it. A
prepaid credit card is issued by a financial institution and performs the functions of a credit card except that a
certain amount needs to be preloaded in account. The card holder can use the card for purchasing items till the
preloaded amount gets finished. Prepaid credit card limits the borrowing of funds from the financial institution after
preloaded amount is finished. The issuing of prepaid credit card does not require bank account of the card holder.
Instead the amount is stored in a temporary bank account till the amount is fully used. This factor is expected to
boost the adoption of prepaid credit card...

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