Last minute holiday shoppers have at least one reason to rejoice this year because their task just became a lot easier. According to the Prepaid Card Research, prepaid cards topped Canadian wish lists this holiday season because the cards can be widely used to buy exactly what the recipient wants. This data is in line with trends seen in the United States, where prepaid cards remain the most requested gift for the past twelve years and continue to grow in popularity.
When asked what gift they would most like to receive in the upcoming holidays, prepaid cards that can be used anywhere American Express, Mastercard and Visa are accepted ranked first among Canadian consumers at 51 percent and store gift cards redeemable at specific retailers came in second at 36 percent, followed by clothing and accessories at 31 percent. With more than four-in-ten (43 percent) Canadians struggling to sometimes – if not always – stick to a budget in the last year, the survey also revealed that 80 percent agree that giving prepaid cards is a great way to stay within a holiday spending budget.
Access the full infographic here.