Prepaid cards continue to penetrate new markets with greater success than ever before, as businesses and financial institutions roll out new options that have more savory perks than any traditional banking products. The rise of alternative financial services has dramatically shifted the consumer landscapes, largely getting the economy over the hump of the recession.
The Arizona Daily Star recently reported that Tuscon, Arizona, companies have rolled out a new prepaid card program that is attracting tens of thousands of workers in Sonora's manufacturing plants. According to the news provider, the program allows workers to opt for a payroll deduction that goes directly into a prepaid card, which they can then use for several purposes in Old Pueblo. The source said that the card is extremely beneficial, as a $40 paycheck can lead to a $500 shopping card or $700 hotel credit. The manufacturers said that this initiative has already been extremely successful, and that the program is an excellent way of showing their employees they care about their well-being, the Daily Star added. Businesses should consider offering prepaid cards to increase engagement with consumers.