MasterCard, WebMoney and Credit Saison launch prepaid card in Japan
Article from Finextra:
MasterCard, WebMoney Corporation and Credit Saison Co., Ltd. on May 14 announced the launch of the WebMoneyCard, the first MasterCard-branded prepaid card issued in Japan.
With the WebMoneyCard, cardholders can make payments at approximately 38.1 million MasterCard acceptance locations[1] in more than 210 countries worldwide. The card can be used for diverse everyday purchases, ranging from apps to payment at restaurants, cafes and convenience stores.
WebMoneyCard, which is obtainable without credit evaluation, ensures that cardholders can shop with ease, knowing that their spending will always remain within pre-loaded amounts.
A smartphone app, WebMoney Card Case, was concurrently launched to enable cardholders to view their card balance and to reload funds online. The app also simplifies reissuance in the event of card loss.
WebMoney is issuing the WebMoneyCard under a MasterCard license owned by Credit Saison. Credit Saison is responsible for card issuance, management of MasterCa…………………continues on Finextra
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Prepaid Debit Cards: With all the Scams, are They Worth It?
Article from Fox Business:
New scams involving prepaid debit cards are making headlines: Fake loan modification schemes. Fraudsters posing as Internal Revenue Service officials demanding immediate tax payments. Hacking scams involving phony legal fines.
So how safe are prepaid debit cards, and are they even worth keeping in your wallet?
“With any new technology or payment process, as growth explodes, people take advantage of that growth,” says Doug Johnson, vice president of risk management policy with the American Bankers Association.
Prepaid cards have become particularly popular among the 68 million Americans who, according to the FDIC, lack full access to banking services. Because you generally don’t need to undergo a credit check to get a prepaid card, they’re useful if you have no credit score or a spotty credit record. Users can buy general purpose prepaid cards at a host of merchants and use them at stores, ATMs or online, for monthly fees of about $ 5.
“For people who don’t have a bank account or access to regular credit, that’s their way of accessing electronic money. It helps bridge the digital divide,” says Ben Jackson, senior analyst…………………continues on Fox Business
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