Canadian Case Could Have Implications for Open-Loop Prepaid Cards

CPPO legal advisor Sharissa Ellyn clarifies a recent Canadian court ruling affecting open-loop prepaid cards. 

A recent decision by the Supreme Court of British Columbia could have implications for the network branded prepaid card industry in Canada. Although the provincial court denied certification of the class action in Jiang v. Peoples Trust Company, it came to a preliminary conclusion that network branded prepaid cards are subject to the Business Practices and Consumer Protection Act (BPCPA), a British Columbia statute that includes restrictions on prepaid card expiration dates and fees.

Read more on Paybefore.