UniVision Looks to Fill Niche’ with Prepaid Card

As the need for card products grow within the U.S., now more than ever there is an increasing amount of companies looking for a specific niche’ where they can become the market leader. It now seems that one company is ready to become the top prepaid card supplier for the Hispanic community, and has teamed up with MasterCard Worldwide to make this happen. That company’s name is Univision Communications, and their goal is to connect millions of un-banked or underserved individuals to the mainstream financial system with both a prepaid card and gift card slated to be made available nationwide in 2010.

The cards will be named the following:

• Univision Prepaid MasterCard Card (Tarjeta Univision MasterCard Prepagada)

• Univision MasterCard Gift Card (Tarjeta de Regalo Univision)
   

Univision’s goal for creating these new financial card offers is to empower those within the Hispanic community by linking them with financial services and tools that they can trust. They also wish to give them a product that is culturally significant, secure, and most importantly a cost effective alternative to cash. As for the market size that could benefit from these cards, 106 million people in the U.S are financially underserved; 19% of that number being Hispanic according to a study by the Center for Financial Services Innovation.