Prepaid cards

PayPal — which is rarely thought of as a prepaid card company — has filed a lawsuit against the CFPB over its rules on prepaid accounts, underscoring the rapid changes in digital financial services and PayPal’s own expanding financial services ambitions in recent years.

Wirecard will begin giving German users of its boon Planet digital account 0.75% interest on funds held in the prepaid card account beginning next year.

Zazu Limited, a Zambian fintech, has partnered with Mastercard to launch a mobile wallet that supports a prepaid account instantly issued from the app to any local consumer — with or without a bank account.

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.

After the last two decades of selling prepaid cards and bank accounts direct to consumers, Green Dot has increasingly been shifting gears to rent out its payments and banking infrastructure to nonbanks who want to offer cards and banking services to their users.

The two companies agreed to continue to collaborate on a prepaid card program until 2027. The deal holds particular importance for Green Dot, which relies heavily on revenue generated at the discount retail giant.

Card processor i2C Inc. has formed an alliance with Ecard, a prepaid debit card targeting travelers that's accepted on both Discover and China’s UnionPay network.

Government action and product advancements are giving consumers choice, but misperceptions remain, says the Innovative Payments Association's Brian Tate.

Samsung Pay users can use the app to send funds across borders to recipients with a bank account through a new service powered by Travelex.

When the payments industry's decision makers gathered in Los Angeles at SourceMedia's annual PayThink conference, certain topics dominated the discussion.