Government action and product advancements are giving consumers choice, but misperceptions remain, says the Innovative Payments Association's Brian Tate.
The question for lawmakers is how to work together to make sure as many people as possible are able to take advantage of the opportunities provided by innovation, writes Brian Tate, president and CEO of the Innovative Payments Association.
Attempts to legislate or regulate innovative payments treat consumers, who have affirmatively selected to use prepaid accounts or some other emerging access device to access their money, much differently than consumers who have decided to open a traditional bank account with an associated debit card, writes Brian Tate, president and CEO of the NBPCA.