WILLIAMSBERG, Va. — Growing consumer concerns over card fraud, particularly over the internet, is opening the door for prepaid cards which might be used only to shop on the Internet, according to Peter Mahr, vice president with eFunds Prepaid Solutions.
Speaking to attendees at PSCU Financial Services 30th annual meeting, Mahr outlined incidents in his own life that had forced him to close and reopen credit card accounts twice in 90 days.
"While I can't wait until this is no longer a problem, but for the time being it is a problem," Mahr said. Consumers may be increasingly attracted to having a reloadable prepaid card that they might use only for Internet shopping. These sorts of cards would enable them to shop more easily with the security of knowing that if their prepaid card number is hacked they will not have used their credit or debit card, Mahr explained.
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