Parents who are fast to teach teens about handling money are weighing the advantages and disadvantages of prepaid and credit cards, and how safe they are.
RBI in the draft circular said that card issuers shall issue cards across more than one card network and they should provide an option to the customers to choose any one among the multiple card networks.
Before the pandemic, 60 percent of credit card spending was face-to-face, while 40 percent was through e-commerce. However, data from Visa now indicates this pattern has almost reversed.
A group of fintechs have smelled an opportunity in the financial services market that focus on children, which is largely under-penetrated. Many firms like Muvin and Pencilton have already launched products like pre-paid cards, and many have either raised funds or are planning to do so to tap the market.
These smart cards are for children under 18 years. Parents receive an alert every time a child swipes the card
Amid government efforts to curtail usage of cash in transactions, payments firm Indepay Networks will launch prepaid cards in February for facilitating secured payments.
In an age when buying at the best price and getting the best deal has become a mantra for the Indian consumer. TripFactory the challenger in the ...
JPMorgan Chase is jumping into the rapidly growing business of prepaid cards, introducing its own called Chase Liquid.