With Aggressive Lobbying, Visa Puts Prepaid Card Reader Plans in Limbo: Sources

By Colby Adams

UPDATE: Adds statements by spokespersons for Visa and ICE in the eighth, ninth and tenth paragraphs. Lobbying by the world's largest stored value payment facilitator has indefinitely delayed, and perhaps permanently blocked, a plan to give customs officials the ability to read prepaid cards, say sources. Under a project outlined in June 2011 documents drafted by the U.S. Department of Homeland Security, the Obama administration was slated to deploy mobile readers and software that would allow investigators to read the monetary values stored on prepaid cards found while executing search warrants or when transported through U.S. border crossings, airports and...