Where does the growth in prepaid debit cards come from? Is it growth in existing applications, or new applications attracting new markets?
RS: I think it is both. New applications are being developed. Existing, young applications are starting to grow quickly. The awareness, the adoption and the use of the product are just starting. There is tremendous runway on this product. There are 80 million unbanked in America. When we measure awareness and utilization of the product, we know there is phenomenal runway, people using it as a mainstream payment instrument. GR: Is unbanked the primary market for prepaid debit cards? RS: We dont deal with just the underbanked, we sell our product through Blackhawk, c stores, grocery stores, Safeway. These are not retail establishments being built in neighborhoods where there are a lot of underbanked. We have a lot of banked customers also, credit worthy customers that use our product. It may not be at the level we see when an underbanked customer adopts our product, but it is still significant. GR: Why? RS: There are just payment applications and utilizations that are better suited for t
