The WSJ states that the prepaid credit card business is booming and it is likely to reach $200 billion in income by 2013. The largest card that is prepaid, Green Dot Corp., raised $160 million in its IPO final thirty days and it has seen its stock increase by 30 % since that time. The second-biggest business on the market, NetSpend Holdings Inc., hopes to improve $200 million with its very very own IPO that is coming. That is news that is good.
Prepaid cards are utilized as debit cards, aided by the huge difference that they’re perhaps perhaps not associated with a bank checking account, but they are drawing funds from a free account aided by the bank that is issuing.