Content Tag: center for financial services innovation
With a strong appetite for alternative financial solutions, Canadian companies are demanding new products and technologies that expand their point of sale and back-office payment options. Many companies are turning to prepaid card solutions, according to the latest CPPO corporate prepaid market study, with CAD$3.8 billion loaded onto open-loop cards in 2017 – a figure that has increased by more than 27 percent annually since 2015.
The Canadian prepaid market is exploding with a variety of prepaid card types and applications, with more than 236 million prepaid transactions taking place in 2016 alone.
A few weeks ago, I attended the Canadian Prepaid Providers Organization’s (CPPO) first-ever Prepaid Symposium. The symposium brought together stakeholders from across the United States and Canada to discuss the current and future state of the prepaid card industry in North America. As a New York-based representative of the Center for Financial Services Innovation (CFSI), I joined a panel of other U.S. representatives to discuss promising prepaid innovations south of the border.