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Positive and negative lists for prepaid cards issuers

TWENTY-SEVEN firms in Shanghai have been named and shamed for malpractice in managing their single-purpose commercial prepaid cards schemes.

Shanghai Prepaid Card Association today announced the names to alert consumers of potential risks.

Restaurant chain Jarden de Jade was listed on the blacklist for not having registered as required, raising concerns over its business conditions.

Laiyifen, a domestic retailer of snacks, was included due to great number of consumer complaints over service qualities.

Nearly half of firms on the list were beauty salons and SPA firms that failed to register and issued cards with value exceeding a maximum of 5,000 yuan according to regulations.

It is the second time the association publishes the blacklist on a quarterly basis.

Twenty firms were included in the list last quarter and most have corrected their violations and compensated consumers, said Fan Lingen, executive vice chairman of the association.

Meanwhile, 22 companies, including IKEA, Metro, Costa, and Starbucks, were awarded five-star for their sound credits in issuance of prepaid cards.

Fan said Shanghai may this year release rules to regulate various types of prepaid cards across commercial, transportation, entertainment, and tourism sectors to specify responsibilities of government departments and protect the rights of consumers.

Data with Shanghai's government-run public service hotline 12345 showed that a total of 2,830 complaints were received in the first quarter concerning single-purpose prepaid cards, up 8.3 percent year-on-year.

The complaints involved a total 1,370 companies, 5.6 percent more than the same period last year.


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