Content Tag: prepaid

 Limited seats are still available for the only education and networking event for the prepaid industry in Canada

More than twenty-five industry leaders will present actionable insights around the evolution of payments and the role of prepaid in Canada’s paytech growth

CPPO's Executive Director, Jennifer Tramontana, joined a panel discussion with Payments Canada to talk about women leading change in the payments industry.

 The third payments study by Canadian Prepaid Providers Organization (CPPO) reveals a 14 percent growth in digital, mobile and prepaid payments over the past two years

Galileo, Netspend, Spring Card Systems, Stack, and Vancity Community Investment Bank join membership

One-day educational event will explore critical topics in the evolution of payments with a focus on prepaid as a core capability

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. 

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. 

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. 

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. 

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