10 Reasons Why Prepaid Cards Are The Way To Go For Public Sector Payments
Thinking of making the switch your traditional public sector payment methods to prepaid?
We’ve got 10 reasons why you should choose prepaid cards if you are looking for a government or public sector payment program.
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According to the Consumer Financial Protection Bureau (CFPB), in 2015 almost half (46 percent) of all complains from the military community were related to debt collection, nearly double the rate o the general population.
Over 12 percent of all complaints from the military were related to fraud, identity theft, scams, and incorrect credit reports. In the same survey, only 1 percent of all complaints were about prepaid cards
In a survey conducted by IPSOS and MasterCard, 73 percent of all consumers felt that prepaid could prevent them from going into debt.
In a 2015 survey titled “How Canadians Pay Today,” 82 percent of Canadians want payment cards that avoid overdraft fees, NSF fees, and interest fees, 40 percent of Canadians want a payment card with a set spending limit to help them stick to a budget.