Consumer Payment Card News

Cool Cards

New research among teens and their parents concludes that prepaid debit cards can help kids maintain a “cool” status while making payments easier, providing payment security and control for parents. According to Mintel Comperemedia 62% of parents are interested in having their children use a prepaid debit card rather than a credit card. Additional benefits Mintel research has concluded is prepaid cards offers teen-friendly features with no risk of overdraft fees, users can only spend the amount of money pre-paid onto the card and provide the opportunity to build credit. Also, many prepaid cards come with safety features like allowing parents to monitor spending or requiring authorization for online use.

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