Hopeful for Revenue from New Prepaid Cards, Big Banks Can Deploy Multiple Marketing Strategies to Drive Online Awareness
Traditionally, big banks have not focused on the prepaid card market, typically comprised of low income consumers seeking a checking account replacement. But as new federal restrictions on debit cards threaten a significant source of revenue, financial institutions such as Bank of America and U.S. Bancorp are wading into prepaid waters. Capital One has been one of the few traditional banks offering prepaid cards. And of all the banks offering
Consumers Pick Up the Pace of Spending, But How Are They Paying for It?
‘Twas a merry holiday season. Even the economy showed signs of holiday cheer. According to the Commerce Department, consumers enjoyed their biggest shopping spree since the recession began and retail sales rose 0.8% in November lifted by a 2.8% jump in department store sales. These better than expected sales figures have prompted many to revise 2011 forecasts and proclaim that consumers and the economy are back. The government’s emerging package