Even with so many new ways to pay, consumers are choosing prepaid mechanisms to power e-commerce payments.

As fraudsters increasingly up the ante with their tactics, it is more important than ever for financial institutions to take proactive prevention measures.

Recent rules released by the Consumer Financial Protection Bureau state that prepaid issuers must provide consumers with new access and protections.

With a strong focus on “Know Before You Owe” disclosures, the CFPB’s new rules are aimed to improve consumers’ access to account information. Ultimately, these changes would end up benefiting cardholders in a number of ways and potentially create more leg work for issuers.

As the season of gift giving ramps up, consumers may be looking for alternative ways to pay. Prepaid debit cards offer the convenience of built-in budgeting with enhanced security.

What consumers want from their FIs in terms of banking solutions is often as diverse as the consumers themselves.

Prepaid will continue to become more popular. However, the soon-to-be released CFPB changes could create some prepaid strategy modifications for FIs.