Friday, September 7, 2012
Latinos and Prepaid Cards: It's About Overbanking, Not Underbanking
Prepaid debit cards are growing in popularity among Latino Consumers. Packaged Facts' new report Consumer Payments in the U.S.: The Latino Market reveals that between 2011 and 2012 the number of Latinos using prepaid cards increased by 7.2%. At the same time, the total number of consumers using prepaid cards grew by only 1%, and use of prepaid cards by non-Latinos declined by 0.5%. Thus, Latinos drove the growth in prepaid card use during this period.