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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
Market Share of Digital Prepaid Cards by Segment::
- Digital prepaid cards accounted for 5.5% of gift cards for online services such as music or online gaming in 2021.
- Digital prepaid cards accounted for 4.8% of prepaid mobile phone cards in 2021.
- Digital prepaid cards accounted for 4.6% of transit prepaid cards including commuter rail, subway, bus and toll transponder/cards in 2021.
- Digital prepaid cards accounted for 4.3% of specific retailer gift/prepaid cards that do not have a processing network logo in 2021.
- Digital prepaid cards accounted for 4% of general purpose reloadable prepaid cards in 2021.
- Digital prepaid cards accounted for 3.3% of general purpose non-reloadable gift/prepaid cards with a processing network logo in 2021.
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.