Stored Value Cards Offer New Way to Pay
Thomas Pack writes in Business First about stored value cards.
Like credit or debit cards, they can be used to get money from an ATM or buy something at a store. Like prepaid phone cards or store gift cards, they aren't tied to a person's bank account, and they're preloaded with a specific amount of money. Some can be reloaded when the initial amount runs out.
Businesses like them, bankers say, because they help reduce payroll-processing costs. Consumers like them because they're easy to use. Banks like them because they provide another product to sell and help bring in new customers.
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