International Report: Prepaid as a vital tool amid the Covid-19 crisis

The urgency of providing much needed relief to those in need as quickly as possible since the outbreak of COVID-19 has brought prepaid solutions into focus. The CPPO, along with Innovative Payments Association and Prepaid Verband Deutschland e. V., looked at how prepaid is being tapped in various markets to get emergency relief funds to those in need asap. More in this report from the PIF International Working Group.

Prepaid solutions are faster, more secure, more convenient, and less expensive—for both the government and the consumer—than making disbursements through paper cheques. A prepaid cardholder does not have to wait for support payments to be delivered or processed and can use the prepaid card like any debit or credit card by presenting the payment card at point of sale—whether curbside or in-store—and when shopping online. With touch-free payment options, recipients can feel comfortable accessing support under the current circumstance through the “tap-to-pay” option on their smartphones or contactless card payments.

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