"The underbanked consumer represents an entirely different market opportunity for merchants. We're excited about our partnership with H&R Block and the tremendous value we can jointly offer cash preferred consumers and the merchants who serve them," said Wipit, Inc. CEO Richard Kang.
Wipit also announced an investment by H&R Block. The Wipit website is at http://www.wipit.me/.
“Consumers need to be able to easily determine the true cost of a prepaid card and compare different products before deciding which to purchase,” said David Newville, CFSI’s Policy Manager. “A well-designed fee box can help them make informed choices. By developing a simplified and standardized format, companies will ultimately attract more consumers to prepaid cards.”
Three prepaid card providers – Green Dot, Plastyc, and Ready Credit - have committed to adopt or test CFSI’s proposed disclosure box.
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