Prepaid Card Models: A Study in Diversity

16 Pages Posted: 11 Nov 2006

See all articles by Julia S. Cheney

Julia S. Cheney

Federal Reserve Bank of Philadelphia

Date Written: March 2005

Abstract

On January 13, 2005, the Payment Cards Center of the Federal Reserve Bank of Philadelphia sponsored a workshop led by Gary Palmer, chief operating officer and co-founder of WildCard Systems, to examine the developing market for prepaid card products. Palmer described several distinct types of prepaid card value propositions, each with its own set of operational needs and customer servicing requirements. In addition, Palmer described new roles that exist in prepaid card programs that are not present in traditional credit and debit card programs. He emphasized that the variety of these programs' requirements and the breadth of thirdparty participants create complexities not only in the servicing of these accounts but also in the economics of these programs and the regulation of this payments category.

Keywords: Payment systems

Suggested Citation

Cheney, Julia S., Prepaid Card Models: A Study in Diversity (March 2005). Federal Reserve Bank of Philla Payment Cards Center Discussion Paper No. 05-03, Available at SSRN: https://ssrn.com/abstract=927063 or http://dx.doi.org/10.2139/ssrn.927063

Julia S. Cheney (Contact Author)

Federal Reserve Bank of Philadelphia ( email )

Ten Independence Mall
Philadelphia, PA 19106-1574
United States

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