Toronto, ON – July 13, 2017– The Canadian Prepaid Providers Organization (CPPO), the voice of the rapidly-growing prepaid payments industry in Canada, announced the addition of three new members and an annual CPPO Prepaid Symposium to support its mission to promote a positive environment in which prepaid payments can responsibly grow and flourish in Canada. American Express, Mastercard and Visa prepaid card loads totalled $3.1B in 2015, and prepaid cards are the fastest-growing payment card category in Canada today.
Desjardins, Payment Source and UnionPay International have joined CPPO’s founding members that include major financial institutions, card networks and other industry players. The inaugural CPPO Prepaid Symposium was held in May in conjunction with the Payments Canada Summit. More than 100 attendees from multiple countries met to discuss prepaid innovation in Canada, lessons learned from established markets and programs, regulatory developments and consumer financial health.
“The CPPO was created to provide a voice for the growing prepaid industry in Canada and to represent those in the prepaid community who are committed to responsible industry growth,” said David Eason, CPPO co-founder and chairman of the board. “Adding these exceptional companies and committing to an annual industry event, the CPPO Prepaid Symposium, enhances our ability to fulfill that mission.”
Prepaid products are cost-effective, flexible and easy-to-use payment tools that can be used anywhere the card network (American Express, Mastercard, Visa and UnionPay) is accepted, including online, in-person and around the world. They are rapidly replacing cheques as a less expensive, quicker and more secure option for issuing payments, and a growing number of consumers are opting for prepaid cards to manage their day-to-day spending and securely make purchases online and while travelling.
About The Canadian Prepaid Providers Organization (CPPO)
The CPPO is a not-for-profit organization and the collective voice of the open-loop prepaid payments industry in Canada. It is the only Association solely focused on this growing industry and is supported by major financial institutions, card networks and other industry players. The CPPO is focused on awareness and education so that consumers and businesses can have the best experience with these popular products.Members include: American Express (Amex Bank of Canada), Bank of Montreal, Berkeley Payment Solutions, Blackhawk Network, Desjardins, Home Trust Company, Incomm Canada, Mastercard Canada, Norton Rose Fulbright, Payments Source, Peoples Trust Company, RBC, Scotiabank, The Fletcher Group LLC and UnionPay. Connect with CPPO on Twitter and LinkedIn