Community Bank Prepaid card program launched by ABA Business Solutions.

• Position: Brief article

COMMUNITY BANKS WHO WANT TO OFFER PREPAID CARDS in their branches now have a low-cost, quick-to-market option.

ABA Business Solutions, in conjunction with Transcard and MasterCard, have launched the Community Bank Prepaid Program, a packaged set of prepaid card solutions.

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Opportunities in prepaid have grown exponentially over the last several years. According to research commissioned by MasterCard from Boston Consulting Group, the open loop prepaid card opportunity in the United States is expected to grow to $442 billion by 2017. The effects of the economic slowdown, regulatory changes and shifts in consumer sentiments have ail created a larger demand for prepaid cards. However, high start-up costs and the need for prepaid expertise have precluded some banks from pursuing prepaid card opportunities in the past.

With the launch of the Community Bank Prepaid Program, ABA Business Solutions will enable banks to easily offer prepaid solutions that provide new avenues for creating customer relationships and new income opportunities at a time...