"Today, with access to credit potentially being an issue for some people, certainly we'll probably see these cards become more popular, just among the mainstream population, in terms of access to a branded card that doesn't necessarily require a credit check, because you put your own funds on it," says Tramontana.
Studies and researches have supported Tramontana's prediction. A November 2008 research report on the Prepaid industry from Mercator Advisory Group -- an independent research and advisory services firm that focuses on the payments business -- predicts that the total for load volume (money added onto prepaid cards) across all prepaid market segments will reach $362.3 billion by 2011. The report says network branded solutions will represent more than half of that total, with a predicted $124.6 billion in load volume.
NBPCA's recent study, entitled "Survey of American Consumers: Reloadable General Purpose/Payroll Prepaid Cards," which surveyed 600 U.S. consumers with annual incomes under $50,000, indicated an overwhelmingly positive response from those consumers who were also current network Branded Prepaid Card users: 90 percent of network branded Prepaid Card Users said they were satisfied with their prepaid card experience, while approximately 70 percent of prepaid card users said they were "extremely satisfied" or "very satisfied," says Tramontana.
