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Article: FSV Links Savings to Prepaid Card Accounts.(FSV Payment Systems Inc)
- Article from:
- American Banker
- Article date:
- September 28, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Will Hernandez
The prepaid card marketer FSV Payment Systems Inc. is offering people savings accounts tied to its cards.
The Houston company said last week that three of its issuing bank partners are providing accounts linked to its PaycheckPlus payroll cards and its general-purpose reloadable cards.
Observers say that unbanked consumers who use prepaid cards are showing increasing interest in banking products tied to their cards.
Jonathan Palmer, FSV's president and chief executive, said the savings accounts are aimed at unbanked and underbanked consumers who do not have a convenient way to put away money to meet their near- ...