Wonder what the term “issuer” means? The “issuer” of a prepaid debit card (or teen card or gift card) is the financial institution that provides an account (and typically a piece of plastic, or debit card, to access the account) to a consumer. Issuers can include banks, credit unions or savings and loan associations, and retailers such as department stores or gasoline companies. Payment associations, such as MasterCard or Visa, are not issuers, although American Express and Discover Financial Services are issuers.
Here are several of the largest issuers of prepaid cards:
- MetaBank (a division of Meta Financial Group, and the issuer of cards like the READYdebit prepaid Visa, the
AccountNow prepaid Visa, and many others)
- The Bancorp Bank (the issuer of the Wired Plastic Prepaid Visa and the Vision Premier Prepaid Visa among others)
- American Express (the issuer of American Express gift cards and prepaid cards)
- Discover Financial Services (the issuer of the Discover Current Card)
- and others….