Content Tag: prepaid
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.
Canadian Prepaid Providers Organization (CPPO) releases annual study showing the open-loop prepaid card market is nearing CAD$4 billion
Innovators showcase will feature Curexe, Dwello, Remitr and Stack
CPPO's Chairman, David Eason, caught up with millennial money expert, Jessica Moorhouse, to educate millennials about the ever-popular prepaid card.
Prepaid industry founders, tech influencers and mobile payments leaders will explore prepaid’s role in driving payments innovation
Canadian Prepaid Providers Organization (CPPO) releases annual study showing the open-loop prepaid card market has topped CAD$3.6 billion
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.