20th Annual U.S. Open-Loop Prepaid Card Market Forecast, 2023-2027
- Date:December 12, 2023
- Author(s):
- Jordan Hirschfield
- Report Details: 29 pages, 22 graphics
- Research Topic(s):
- Prepaid
- PAID CONTENT
Overview
Javelin Strategy & Research continues its annual series on market trends with this focus on the open-loop prepaid market. Javelin forecasts strong and steady growth in the open-loop prepaid ecosystem, with the largest segments, general-purpose open-loop gift and financial services cards, trending strongly to drive the overall market. Consistent with past years, economic conditions play a large role in the outlook of individual products, and trends will be graded against comparisons with overall economic activity. Regulatory advances and reduced inflationary pressure should help advance products such as benefit cards and general-purpose cards, which can offset higher-interest credit spending. Conversely, macro factors such as positive economic trends, reduced unemployment, and political division will slow products such as unemployment benefit cards and cards related to Temporary Assistance for Needy Families.
Javelin’s research indicates that American buyers have a positive outlook on the prepaid market as a whole, with strong usage and upward trends in intent to buy. The research highlights healthy spending patterns in prepaid cards as well as in the frequency of purchases.
Key questions discussed in this report:
- What does the growth of the total open-loop market look like?
- What segments are primed for outsized growth?
- What factors affect the growth of each open-loop prepaid product?
Companies Mentioned:
American Express, CPI Card Group, Discover, Grubhub, Mastercard, PLI, Venmo, Visa, Western Union, Zelle
Learn More About This Report & Javelin
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