The UK's Clydesdale Bank is teaming with PrePay Technologies to create, deliver and service prepaid and reloadable MasterCard debit cards that are targeted at customers that don't have a bank account.
Clydesdale - which is part of the National Australia banking group (NAB) - says it is working with the UK-based vendor to create a set of cards targeted at the large unbanked market, which will be released imminently.
The bank has already launched its Western Union Travel Cash Card, which can be loaded with funds in euros, US dollars and sterling and is protected by a personal PIN. The card can be used at ATMs as well as in retail outlets.
Dean Cutbill, general manager of third party distribution, Clydesdale Bank, says: "The US marketplace has seen a rapid expansion in the provision of prepaid debit cards over the last five years and we anticipate this growth will be replicated in Europe over coming years."