September 27, 2016
Updated on September 13, 2019
Prepaid cards are payment cards with a value stored on the card itself unlike debit cards, where an external account is maintained by a financial institution, or credit cards, which are subject to the credit limits set by the issuer. One of the essential benefits that prepaid cards provide is the segmentation of the spending by consumers for categories such as travel, online shopping, m-commerce, etc. Another benefit has been to control the amount of disposable money which can be used through a card, to either avoid frauds or to limit the utilization by teenagers. The growth of the prepaid card market has been fueled by a range of factors, among which are the opportunity to perform electronic payments for those excluded from the financial system, a cost-effective alternative to cash and checks for both businesses and governments, etc.
Recent estimates suggest that in 2015, the global prepaid card market totaled £372 billion, attracting the attention of entrepreneurs and investors to a promising segment. A range of FinTech companies around the world has developed proprietary solutions to provide the convenience of a regular debit/credit card with the opportunity to limit personal spending and improve budgeting. Here are some of the most interesting prepaid debit card providers in Europe that offer control over personal funds to their customers:
Launched in 2003, EntroPay offers a secure and convenient solution wherever Visa or MasterCard payments are accepted online, or over the phone. EntroPay was developed with a goal to offer a payment method that eliminated the hassle associated wit ...