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Survey Says Prepaid Cards Hit Among the Underbanked

A survey sponsored by a prepaid card association has found that the cards are extremely popular among underbanked and unbanked consumers.

By David Morrison | Updated on August 06, 2007

SHERBORN, Mass. — A survey sponsored by a prepaid card association has found that the cards are extremely popular among underbanked and unbanked consumers.

A market research firm conducted the survey in mid-May on behalf of the Network Branded Prepaid Card Association. The survey took responses from 600 online interviews with consumers who have household incomes of less than $50,000, the association said. This group of consumers has a higher likelihood to be paid in cash; use the services of a check casher; and/or pay bills using cash, money orders, or the check of a friend or family member, the association said.

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