Prepaid debit cards are used for all kinds of things. Parents use them to easily transfer funds to their kids. Teens, adults and businesses use them to shop securely online. It turns out that even inmates use prepaid debit cards to access cash once they get released.
Continental Prison Systems, Inc. (Pink Sheets:CPSZ), dba EZ Card & Kiosk, recently announced their installation of a prepaid card kiosk at a jail in California. If successful, Continental will install the kiosk at other institutions across the country.
Here’s the concept: he EZ Money Load Kiosks are installed in the jail’s lobby area, so that an inmate’s friends and family can easily load money into the inmate’s trust account (using cash, credit and/or debit cards).
When the inmate is being released from the facility, the inmate is issued an “EZ Release Debit Card”, giving the inmate the convenience and flexibility of a four digit PIN-based debit card which can be used at any ATM or point-of-sale retail outlet.
Prepaid debit cards are perfect for applications such as this where funds need to be delivered and tracked securely and accurately. What’s next for prepaid?