PayThink Old stereotypes are hurting innovation in prepaid

​Smart financial choices are tough, even for the savviest consumers. With more choices than ever before on how best to manage money, getting honest information is critical for success. 

Unfortunately, that information can be hard to find. Outdated facts, product misperceptions, and outright bias threaten the consumer’s ability to find the knowledge they need to make smart choices. 

​Critics of prepaid accounts have been left behind by the rapid transformation taking place in payments. Like all industries, the payments sector had its growing pains, but the community kept innovating, learning, and working with policymakers to bring innovative, accessible, and lower-cost products to market. This evolution has been noticed, with prepaid and fintech products becoming a staple in recommendations by experts like the Financial Health Network (formerly CFSI). 

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