All Pay News reports that with Americans using prepaid Visa and MasterCard prepaid cards to replace traditional credit cards in this time of economic turmoil, PreCash of Houston, a prepaid cards distribution company, has increased grown 600%.
John Chaney, Chairman and CEO of PreCash, Inc. had this to say about the reason behind the growth, "Prepaid debit cards, like our Vision card, help cash-paying consumers access financial services they otherwise wouldn't be able to use. Many consumers use prepaid debit cards to manage finances while still being able to pay bills online; reserve rental cars or airline tickets; pay for gas at the pump and more."
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