EDebit Pay one of top businesses in Los Angeles

In a recent list of Los Angeles' top 100 countries, EDebitPay held the 27th spot. EDebitPay has seen tremendous growth between 2004 and 2007, growing 618.2%. Since it's conception in 2002, they've not only grown as leaders in the prepaid card market, but also looked to specialize in cash advances, debit consolidation, auto loans, insurance, credit line offers, and business opportunities .

However, according to this article at Business Wire, CEO Paul Cleveland, still looks to focus on the prepaid market.

“In today’s credit crisis, the use of prepaid debit cards will only continue to grow and we are constantly looking for ways to better serve this market. The recognition of this award confirms and validates our continued efforts to accomplish this goal.”

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Latin America and Europe Becoming Prepaid Card Markets

According to a recent report released by Mercator’s International Advisory Service, detailed here at AllPay News, Latin America and Europe are beginning to embrace the use of prepaid cards. Many of the uses of the prepaid cards in these two regions are gifting, transit ticketing, money transfers and general prepaid cards. Some unique uses of prepaid cards have been by government agencies and employers to supplying social benefits as well as payroll payments, either as per diem payments, and card-based vouchers.

Elisa Athonvarangkul, Analyst, International Advisory Service, cites some considerations as companies enter and expand in these markets, “Growth in Latin American and European prepaid markets can be attributed in part to increased consumer awareness of the benefits of this form of payment, in both the public and private sectors. Although prepaid cards may currently be less popular in some emerging markets than they are in developed markets, it is expected that stored-value products will continue to be used in a greater number of applications, and introduce new users to the concept of payment cards."

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