Next-Gen Debit Tracker® – July 2021

Report: Prepaid Debit Cards Seen As Safe, Simple Way To Bank Unbanked Americans

Next-Gen Debit Tracker® – July 2021

Only 7 million Americans have no connection to a financial institution but that’s 7 million people who are locked out of the financial services and digital payments opportunities. In the Next-Gen Debit Tracker, a collaboration between PYMNTS and PULSE, a Discover company, Commonwealth National Bank CEO Sidney King told PYMNTS that small steps, like issuing prepaid debit cards, can go a long way toward reaching those consumers.

Inside the August Tracker

  • An interview with Sidney King, CEO of Alabama-based Commonwealth National Bank, on the challenges inherent in opening up financial access for unbanked and underbanked consumers and what these consumers must consider when tapping payment tools like debit cards to meet their needs
  • Recent next-gen debit headlines, including the FDIC’s efforts to push financial institutions to develop new features that can better serve unbanked individuals and how prepaid debit cards can extend financial services to underbanked customers
  • An in-depth examination of how alternative data and low-cost debit options can help community banks give unbanked and underbanked consumers access to critical financial tools and services

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