Thursday, February 24, 2011
In Prepaid the India Way, The Global Prepaid Exchange predicted large growth for gift (30 percent), payroll (20 percent) and government benefit (15 percent) cards, with travel cards already representing a $2 billion market segment. The association said the prepaid card market in India "has started to become a key part of the economy."
The report's co-author, Professor Dan Horne of Providence College in Providence, R.I., said, "As a means to financial inclusion and increased consumer autonomy, prepaid in India stands unparalleled. The optimism of the industry is echoed by the strongly positive consumer attitudes in evidence in the data…Conditions on the ground are ripe for explosive growth."
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