Jun 11, 2013 Dave King
The prepaid card industry has long been popular with younger generations, especially those who have not yet set up a traditional credit or checking account. Now, the industry has become much more vast, penetrating new markets such as the unbanked and underbanked households that continue to become more prevalent in the United States.
One of the biggest trends in the prepaid card market is developing products that carry an aesthetic and unique theme which targets a certain type of consumer. LowCard.com recently reported that one prepaid card provider has developed an option that will please the biggest fans of Star Trek, with images of characters and settings printed on the product.
According to the news provider, the Star Trek-themed prepaid card works similarly to others, though with an added customization option for the facade. More importantly, the providers of the card have keep the fees at a minimum, with no deposit, enrollment or activation fee. The $5.95 monthly charge is waived when $800 worth of deposits are loaded each month.
Additionally, the source noted that there is a low balance inquiry fee, as well as a $3 ATM withdrawal fee for the card. This is the latest type of prepaid card to be offered that carries a theme while keeping the costs associated with use to a minimum.
Earlier this year, Justin Bieber teamed with one prepaid card provider to offer a unique product as well, helping out in the branding of the firm and being the face of video-based lessons for consumers on financial wellness.
The most successful prepaid card options have thus far been those that take a unique approach to branding, focusing on niche markets either in theme or aesthetics, and maintaining minimal charges for use.