How Prepaid Cards Can Help Banks to Grow Despite the Pandemic

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Unlike many other banking products, prepaid cards are increasing their presence in the market. In the next six years, this sector will achieve an annual growth rate of 11.69%, even despite the pandemic.

Three top issuers of prepaid cards are taking less than 1/7 of the global market, so there is no monopoly yet. Banks can capitalize on the opportunity if they tailor their prepaid products to the needs of the most promising clients: 

  1. Governments that are using prepaid cards to disburse financial aid safely and promptly

  2. Transport authorities who want to ensure quick access to whichever means of transport a passenger prefers

  3. Retailers that are seeking a new source of income to sustain their revenues

  4. Corporates who need to support their employees and have full control of their business expenses

Discover the projects that succeeded and those that failed in these segments. Get an idea of how to create a prepaid product that will let you withstand times of emergency, win against growing competition, and foster financial inclusion.

Banks, fintechs, processors, retailers and other players featured in this case study:

  • Barclays

  • Carrefour

  • Chase

  • Costa Coffee

  • Enfuce

  • Octopus

  • OpenWay

  • Pleo

  • Soldo

  • Starbucks

  • Uber

  • Whim

  • Xapo

banks, payments, cards, merchants, processors, PSPSvetlana Konakovaissuing