The prepaid card industry has experienced explosive growth in recent years, as more individuals and businesses adopt the service for its convenience and relatively low risk. To adapt to this growing demand for prepaid card services, many businesses and payment processing providers are beginning to offer and accept prepaid cards.
Dollar General recently announced that it will be accepting and offering prepaid cards at 10,000 stores in 40 states. The cards are provided by Western Union, which offers general-purpose reloadable cards that have grown in popularity since their inception at stores like 7-Eleven. "This agreement builds upon Western Union's continued expansion of stored-value solutions focused on strengthening both its relationship and value proposition with consumers seeking convenient prepaid services and its relationship with mass-market retailers who want to offer value-added financial services to customers," Western Union official Carter Hunt said. Many reports have recently surfaced that highlight the benefits of prepaid cards. Some include visibility and preference among the underbanked, less risk than standard credit cards and no swipe processing fees. Further, this alternative credit
source is perfect for the growing population of young adults who need to learn more about balancing finances.