Prepaid cards to grow to £50 billion market claims study by Finance News Bulletin

Published: 28/03/07

Around £50 billion a day will be spent on prepaid cards in the EU by 2010, a novel report from sum Systems Europe (PSE) has predictedThe cards are loaded with cash in a similar manner to pay-as-you-go mobile telephone credit before they are used to spend in shops or remove from cash machinesWithin the next four years, PSE predicts that 23 billion dealings will take place on 360 million prepaid cards every year

Because borrowing on the cards is not possible they are ideal for under-18s, but are also expected to be second-hand as an alternative to travellers' cheques and gift vouchersA second innovation are internet sum cards allowing people to weight up their card before purchasing something online or through a telephoneBecause the amount on the card is limited, these will reduce the injure fraudsters are able to do should they get hold of the certificate detailsMany analysts say that the certificate manufacturers have an uphill battle explaining to the public how the cards work and why they require them, however

"We believe that some of the prepaid products currently obtainable in the marketplace require significant further development if they are going to meet consumers' needs," supposed Chris Jones of PSE"The division must focus on developing and delivering simpler, cheaper products and services if the predict levels of growth are to be achieved"MoneyExpert Limited is authorised and keeping pace by the Financial armed forces Authority (FSA Registration No 301654)

The Financial armed forces Authority does not control some forms of mortgage contract, credit cards,

Visit original article: