Jeff oversees the team responsible for managing and enhancing TMG’s core product sets including: credit, debit and prepaid. His team implements new payments solutions and oversees the effort to construct those solutions into marketable products.
Even with so many new ways to pay, consumers are choosing prepaid mechanisms to power e-commerce payments.
Product Manager, Prepaid
Recent rules released by the Consumer Financial Protection Bureau state that prepaid issuers must provide consumers with new access and protections.
With a strong focus on “Know Before You Owe” disclosures, the CFPB’s new rules are aimed to improve consumers’ access to account information. Ultimately, these changes would end up benefiting cardholders in a number of ways and potentially create more leg work for issuers.
As the season of gift giving ramps up, consumers may be looking for alternative ways to pay. Prepaid debit cards offer the convenience of built-in budgeting with enhanced security.
Prepaid will continue to become more popular. However, the soon-to-be released CFPB changes could create some prepaid strategy modifications for FIs.