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When It Comes to Gifting Is Cash or Prepaid King?

By PaymentsJournal
October 4, 2018
in Prepaid, Truth In Data
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– 47% of consumers prefer to receive cash vs. prepaid cards as gifts

– 17% prefer a general purpose gift card

– 13% prefer a retailer-specific gift card

– BUT 1 in 4 consumers have no preference – a selling opportunity for issuers

BONUS DATA: Whether receiving funds as a gift or just receiving funds generally, there is a steep and steady decline in consumers receiving funds on prepaid cards. Roughly half of all consumers had received funds on a general purpose prepaid card in 2015 & 2016 – but that proportion dropped in 2017 to 42%, then dropped again to 36% in 2018. This decline reflects an overall decline in prepaid generally which is reflected in Mercator’s reporting.

Data for this episode of Truth In Data provided by Mercator Advisory Group’s report –  Consumers and Prepaid: Shifting Toward Digital

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Tags: CashPrepaid

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