In a December 2021 American Banker article, “Prepaid in Canada could follow U.S. model for expansion,” CPPO Executive Director Jennifer Tramontana — along with CPPO members Blackhawk Network and Payfare — shared their insights on the value of prepaid in the Canadian market. The article included the perspective of Chris Jones, Blackhawk Canada’s vice president of digital services and incentives and Marco Margiotta, CEO of Payfare.
The Canadian federal government wants to make its disbursements more efficient, and wants to include prepaid cards as part of its government payments toolkit. Every year there is CA$400 million in uncashed government checks as well as government check fraud. Because they are more efficient, we’ll see a lot more use of prepaid cards for Canadian government disbursements. I expect there to be a tipping point for government payouts to prepaid cards.
– Jennifer Tramontana, president of the Canadian Prepaid Providers Organization (CPPO)