PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Consumers Union Says Municipal Cards Should Be Mostly Free

Mercator Advisory Group by Mercator Advisory Group
May 9, 2013
in Analysts Coverage
0
Bitcoin: The Next Gen, Closed-Loop Gift Card Platform?
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

In a letter to the International City/County Management Association, the Consumers Union expressed concern that prepaid cards offered by cities are too expensive and should instead offer a low –cost way for people to access financial services.

Consumers Union, the policy and advocacy of arm of Consumer Reports, has been following with great interest the development and implementation of hybrid municipal identification prepaid cards and transit prepaid cards. We are concerned that some prepaid cards issued recently by cities do not provide consumers with the kind of fair deal consumers deserve. As an organization of many city and county leaders, we would like this opportunity to better inform ICMA of our concern regarding such products and services.

In the letter, the Consumers Union calls for free ATM access at all times, free point of sale and balance inquiries, and low monthly and upfront usage fees for any municipally sponsored card. While all of this sounds good on the face of it, the problem becomes sustaining the card program. Offering prepaid cards, connecting to a payments network, and paying the people who provide customer service are just three of the areas where operating a prepaid card program can be expensive. No reputable operator believes that fees should be excessive, but neither do they expect their employees to work without pay.

The years of free checking have falsely conditioned people to think that all financial services can be provided at no cost. But just as people need to pay taxes for roads and sewer, or pay fares to ride buses and subways, they also need to help sustain the infrastructure that allows for electronic transactions.

Click here to read the letter.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix