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Fintechs’ prepaid card bots abuse e-payments
Bulk issuance of prepaid payment instruments by banks to retailers is being misused to generate transactions, which are helping fintech companies show high volume. Investors consider parameters such as volume growth during funding rounds. Sources said while there were “click farms” that used to generate accounts for “fake likes” or “fake reviews” in social media, there is now software to take advantage of pricing arbitrage opportunities by using mass-generated prepaid accounts, digital wallets