Prepaid debit cards are being offered to Latin Phone customers
SmartCard Marketing Systems recently announced a partnership with telecom company Latin Phone to offer prepaid debit cards to the Hispanic marketplace.
The partnership will introduce prepaid debit cards, which are accessible on all ATMs and major payment networks, to Latin Phone’s existing customer base that exceeds 800,000. Prepaid cards are typically aimed at consumers not involved with a bank. Prepaid debit cards are often seen as a temporary solution to consumers affected by the economic recession.
Officials with the company saw the weak economy as an opportunity to get into the Hispanic market for prepaid debit cards. Tim Sloane, vice president and director of the prepaid advisory service, said that "the extended recession has brought more focus on our prepaid cards."
"No other payment market is riding out the current economic downturn as effectively as prepaid, and I can’t think of any better payments market to be in during a recession," he added.
The partnership with Latin Phone is a sign of SmartCard Marketing’s platform to get its prepaid debit cards into new markets. Last month, it announced that it would offer its products to the telco industry to appeal to more under-banked consumers.
Related ID News:
