The issuer said this week that its Serve Cash Back account will allow cardholders to earn 1% back on purchases.
Mobile wallet providers risk turning the technology into the next Betamax.
Millions of Americans are opting out of bank accounts in favor of prepaid debit cards.
These products are not covered by laws requiring disclosure of fees and terms.
Will more prepaid cards begin popping up at credit unions?
To find out why millions live without basic banking services, I spoke with a bank executive charged with reaching the ‘unbanked.’