According to this latest post on PRNewswire more and more consumers are turning over to using prepaid cards instead of credit cards in order to regain control of their finances once again. John Chaney, CEO of PreCash mentioned "Prepaid debit cards combine the best features of cash and credit cards. For consumers who are watching their budgets, the newest generation of prepaid cards are better than a credit card."
A recent study by Mercator shows that prepaid usage has nearly doubled from $4.2 billion to $7.2 million this year. With the economy at a low, the future seems bright for prepaid.
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