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road” and providing regulatory clarity, which has been missing from the industry in recent years. The CFPB’s regulations restrict- ing overdraft should encourage prepaid providers to pursue
new and innovative forms of o ering credit that are poten- tially o ered separately from the card itself, as Green Dot has done with Green Dot Money,
its online lending marketplace.
4 Prepaid cards increasingly
will serve as the infrastructure
underlying ntech innovations. Because of their exible nature, prepaid cards will be the tech- nology of choice for innovators looking to store and move funds across platforms.
One thing is certain, though: Through our Prepaid Industry Score- card and one-on-one assessments with providers, CFSI will continue to be at the forefront of prepaid providers’ e orts to o er products that help users build nancial health. We’re also hopeful that
regulatory certainty will help
the industry move beyond the Core and Stretch practices to push further into the Next Genera- tion practices that will make the products even more bene cial
to consumers.
Thea Garon is a manager at CFSI, conducting research to monitor and analyze emerging trends in the nancial services industry and sharing CFSI’s expertise with internal and external stakeholders in the sector. She can be reached at Tgaron@cfsinnovation.com.
volume 9 • summer 2016
Flexibility. Personalizaaon. EMV On-Demand.
You really can have it all.
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