Saturday, March 24, 2012

UAE: Prepaid cards to curb default on payments

Defaults on credit card payments and poor financial management could ease as prepaid cards become more popular in the UAE, experts at the Prepaid Summit Middle East said yesterday.

Prepaid card payments are likely to grow faster than credit and debit cards as they started from a smaller base, said Richard Bialek, Senior Business Leader of Prepaid Products at Visa.

The UAE is expected to see $18 billion in prepaid card payments over the next five years
© Al Nisr Publishing LLC 2011. All rights reserved.

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Source: http://www.albawaba.com/prepaid-cards-curb-default-payments-418120

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