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Thursday, September 16, 2010

CFSI publishes nonprofit guide to prepaid

The Center for Financial Services Innovation, in collaboration with the Network Branded Prepaid Card Association, NetSpend Corp. and the Annie E. Casey Foundation, issued The Nonprofit's Guide to Prepaid Cards. The 42-page guide is designed to educate nonprofit organizations about the benefits of prepaid cards and provide nonprofits the resources to incorporate prepaid programs into their initiatives, CFSI said.

Arising out of requests CFSI received from nonprofits for information about the prepaid card industry, CFSI and its partners developed the basic primer on prepaid cards, as well as to outline ways nonprofits can choose the right kind of programs and provide tips for program success, the unbanked and underbanked advocate said.

"General purpose reloadable prepaid cards are widely available, but not well understood," said Sarah Gordon, Senior Relationship Manager at CFSI. "We created this guide for nonprofits because they play a critical role in educating and connecting underbanked consumers to financial products and services, including prepaid cards." end of article

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