Content Tag: payments business

Prepaid solutions have evolved beyond a niche product that fills a gap in the current payments system. Today, prepaid has emerged into a core capability in payment and financial technology and continues to prove its usefulness as a financial mechanism and profit driver for the 21stcentury economy and many of the leading innovators. That being said, prepaid technology needs to be empowered further in Canada to grow in various areas so that it can catch up with global developments. 

Prepaid loads reached a new milestone in Canada as they hit nearly $4 billion in 2017, according to the latest Mercator Advisory Group study, The Canadian Open Loop Prepaid Market: 2017. Not only have prepaid products achieved a steady growth of 27 percent over the past 3 years, but a wide range of new uses for prepaid has emerged, including payments to gig workers, online gaming and bank account supplements for digital-first millennials. 

Study: What Canadians Really Want- 2016 Holiday Gift Trends

Study: New Data Substantiates Open-loop Prepaid Market Opportunity in Canada