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⍰ ASK When did prepaid cards become a widely used form of electronic payment in the U.S.?

Prepaid cards became a popular way to pay electronically in the U.S. in the late 1990s and early 2000s. These cards let people put a specific amount of money on them, giving a handy and flexible option compared to regular banking.

Big banks and other providers started offering these prepaid cards, and they became popular because they were easy to use and accessible. As these cards got better with features like direct deposit, mobile access, and being accepted widely, more people started using them.

Over time, prepaid cards became really common, used for things like getting paid, giving gifts, or just reguular spending, adding to how electronic payments are widely used in the United States.
 

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