BET, the name brand that is biggest in black colored colored news, is supplying the card with NetSpend, one of the biggest prepaid credit card companies. NetSpend hopes the suggestion shall make it transform BET people into fee-paying customers.
Blacks are overrepresented among precisely just what the industry this is certainly economic the unbanked and underbanked, people who don’t have bank reports or whom use high-cost solutions like check-cashing and spend time loans.
Prepaid cards are simply like debit cards nonetheless they arenвЂ™t attached having a bank bank account and very often lack the consumer defenses supplied by debit and charge cards. They’ve been the payment that is fastest-growing is electronic, prior to a 2010 research due to the Federal Reserve.
BET began phone that is using online purchases this 30 days in terms of card, called the Control Prepaid MasterCard. The marketplace is being tested by the companies before whatever they anticipate could be a flooding of good interest, states Dan Henry, CEO of NetSpend. Continue reading “BET, NetSpend join to market re re re payment card this is certainly prepaid”