Payment Instrument Choice: The Case Of Prepaid Cards
Sujit Chakravorti and Victor Lubasi write for Economic Perspectives from the Federal Reserve Bank of Chicago about prepaid cards and how the costs and benefits to payment system participants can differ depending on which payment mechanism is used. The authors specifically explore the costs and benefits of prepaid card applications versus other payment instruments, such as cash, checks, and debit cards, for certain payment segments, including gift, payroll, and employer-initiated and government benefit programs.
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