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The "Perfect Storm" for Prepaid Cards

According to statistics from analysts and words of wisdom from one expert, the market for prepaid debit cards is poised to take off at hurricane force.

"A perfect storm comprised of sales growth, global expansion, and increased consumer awareness," exists in the prepaid market today, says Alan Safahi, president and CEO of Card Express, Inc.Safahi quotes figures from a Tower Group report that projects that by 2007, sales of prepaid gift cards will reach $90 billion. Tower says that 92 percent of today's consumers are aware of the cards and that the world will see triple-digit growth in the next few years.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 7, 7/05

First published on 07/01/2005

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