Thursday, June 01, 2006

Unbanked figures for the US - Payments News

Underbanked Financial Services Market Exceeds $10 Billion

The "unbanked" and financially underserved population is making its mark in the economy in a market segment that now exceeds $10 billion, according to data compiled by Phoenix ESP Payments Research Group. Phoenix reports that although this below-the-radar group may not be using credit cards to make purchases, many are turning to pre-paid cards instead, fueling an opportunity for financial services firms and retailers.

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