INTRODUCTION
The Nilson Report” published in January, 2016 revealed that retail purchase using the American Express and Discover Prepaid Cards has stirred up significantly since 2014. In Pakistan, prepaid card is still a growing market with a lot of potential for new business products. The upsurge of prepaid cards popularity in the western countries is due to its broader appeal. The prepaid cards facilitate both the unbanked consumers (not consuming any banking services due to reservations or poverty) and the under-banked consumers (mostly using paper based/secondary banking services like money orders, cheque cashing services, payday loans, etc.). Both of these segments make up an untapped market that is yet to consume primary banking solutions. Prepaid cards are a simpler/ low cost alternative to conventional cards and are safer/more convenient way of paying shopping expenses than carrying cash.
