A New Look at Who Uses Reloadable Prepaid Cards

September 8th, 2014
in econ_news, syndication

by Philadelphia Fed

Households with annual incomes less than $25,000 own general purpose reloadable (GPR) prepaid cards at a rate slightly higher than their representation in the population, but ownership in higher income households grew at a brisk rate in the 12 months ending in August 2013. Across all income groups, younger consumers have adopted GPR cards at higher rates than their older counterparts have.

Follow up:

[click here to read the entire study]

Source: http://www.philadelphiafed.org/consumer-credit-and-payments/payment-cards-center/publications/discussion-papers/2014/D-2014-Millennials.pdf

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