Prepaid Industry Scorecard

Assessing Quality in the Prepaid Industry with CFSI’s Compass Principles

Posted March 31, 2014
By Center for Financial Services Innovation
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This report summarizes an assessment of 18 general purpose reloadable prepaid cards offered by various large and small prepaid card program managers. The cards studied represent approximately 90% of the prepaid card marketplace. While prepaid cards are meeting core practices for financial products, they could still offer additional services of benefit to financially underserved consumers.   

Findings & Stats

Statements & Quotations

Key Takeaway

Prepaid Cards Generally Meet Consumer Needs

The prepaid cards reviewed in the study scored high in meeting the basic standards required for a high-quality prepaid account. They also scored relatively high in best practices beyond the basic standards and across multiple product dimensions.