Digital Wallet Use for Payment Cards:
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Data for today’s episode is provided by Mercator Advisory Group’s Viewpoint: Prepaid Cards Break Through Conventional Restrictions and Now Behave Like Traditional Credit and Debit Cards
Digital Wallet Use for Payment Cards:
- 60% of cardholders used a digital wallet for their debit card in 2021.
- 46% of cardholders used a digital wallet for their credit card in 2021.
- 22% of cardholders used a digital wallet for their prepaid debit card in 2021.
- 17% of cardholders used a digital wallet for their general purpose gift card in 2021.
- 14% of cardholders used a digital wallet for their retailer gift card in 2021.
- 9% of cardholders used a digital wallet for their loyalty card in 2021.
About Viewpoint
The prepaid card industry has benefitted from significant technological advances in recent years, which serve to make prepaid offerings more secure, convenient, and appealing to consumers of all types. This viewpoint examines the most widely used technologies in prepaid physical cards, as well as some of the most important developing technologies in the space. After identifying the leading drivers of progress within the prepaid market, we offer readers recommendations for remaining competitive.
