Prepaid solutions have evolved beyond a niche product that fills a gap in the current payments system. Today, prepaid has emerged into a core capability in payment and financial technology and continues to prove its usefulness as a financial mechanism and profit driver for the 21stcentury economy and many of the leading innovators. That being said, prepaid technology needs to be empowered further in Canada to grow in various areas so that it can catch up with global developments.
While educating consumers and businesses about the benefits of prepaid continues to be one aspect of it, balancing innovation with oversight, consumer protection, and privacy will ensure that prepaid is ready to take advantage of growth potential.
CPPO Chairman of the Board, Peter Read, discusses his thoughts around the future of prepaid in Payments Business. Click here to read more.