2024 State of the Industry: Commercial Prepaid Cards

The commercial prepaid market should see moderate growth in coming years, with an increased opportunity for non-governmental products such as employee and health incentives in open-loop and closed-loop networks. 

With this report, Javelin Strategy & Research continues its annual series on prepaid market trends. Overall, prepaid continues to represent a small but significant share of the overall commercial payments market. The consistency of that share provides stability for vendors offering commercial prepaid programs, and a continuation of high interest rates could create the potential for growth beyond Javelin’s current expectations.

Key questions discussed in this report: 

• What is expected for each segment of the commercial prepaid market in 2024 and beyond? 
• How will prepaid mechanisms retain value as large-scale government payments stagnate with lower cost-of-living increases? 
• What are the specific inducements consumers prefer in the incentives market?