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Prepaid cards are witnessing a fast rise in popularity, with the global market expected to grow to $535bn by 2020[1]. What was once seen predominantly as a tool for promoting financial inclusion among the unbanked and underbanked population, has now evolved to a payment method that delivers convenience and security to consumers across a wide [...]

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In an ill advised move, the European Commission is proposing expanding its anti-money-laundering rules to cover virtual currencies and prepaid cards, in a bid to fight terror financing and tax evasion as revealed in the Paris attacks and the Panama Papers disclosures. The proposals from the commission, the EU’s executive arm, also seek to strengthen oversight [...]

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According to a new report, prepaid cards in Italy increased from 19.4 million in 2009 to 45.5 million in 2013, with an expected further growth of 17,42%. It estimates that a total number of payment cards will increase from 57.2 million in 2014 to 108.7 million in 2018. The value of prepaid card transactions increased [...]

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