Prepaid Cards In Europe
TowerGroup has announced a new research report titled "Prepaid Cards: A Critical Market Foundation of Europe's SEPA Plans" that concludes that a sharp rise in the deployment of prepaid products over the next 10 years will be key to supporting bank profitability. However, TowerGroup also "believes that European banks success will be elusive as long as the use of cash remains high - underscoring the need for a true debit-based alternative that does not include identity recognition as part of the electronic payment."
The new report titled, "Prepaid Cards: A Critical Market Foundation of Europe's SEPA Plans" by Ralph Silva, senior analyst in the European Banking & Payments practice at TowerGroup, and Chris Skinner, associate director of TowerGroup's Payments and Retail Banking Research in Europe, is one in a series of reports reviewing the harmonization of European financial markets. The report focuses on the critical implications surrounding cash usage across European Union countries as the plans for SEPA and the Payments Services Directive (PSD) are finalized.
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