Finland: Banks consider introducing prepaid debit cards
In Finland, banks are considering launching prepaid debit cards. Nordea will first test the card in Norway says Markku Siitonen, head of Nordea's Card unit. He notes that the cards have low risk and improve customer satisfaction. Matti Korkeela, Executive Vice President, Card Services and Consumer Lending, the OP Bank Group Central Cooperative says that prepaid cards are being planned, but the lack of chip card readers in stores has delayed the project. He believes the cards would speed up the payment of small purchases. Until now prepaid cards have been mainly offered by large retail stores and phone operators. Deputy Managing Director Petri Carpén of Finnish credit card service company Luottokunta says the market in Finland has not been attractive enough for prepaid cards to break through.
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