In a recent interview with Cards International, Jennifer Tramontana, co-founder and executive director of the Canadian Prepaid Providers Organization tells Douglas Blakey that prepaid is driving innovation in the Canadian consumer banking ecosystem and is the core offering with which most challenger banks launch in the market. Moreover, for the non-banks like tech giants, big retailers, e-commerce players, prepaid is the key to entry into the FinTech space.
“Despite the decline in prepaid usage in 2020, which might trickle into 2021, prepaid offers opportunities for increasing financial inclusion and to play a key role in the post pandemic recovery. Also, we are seeing more and more players launching or announcing plans to launch prepaid products in Canada, and thereby it is being predicted that prepaid usage will ramp up quickly over the next few years,” Tramontana said.
