Javelin Prepaid Consumer Sentiment: A Generational View

Generational approaches to usage and behavioral trends with prepaid cards bring attention to the opportunity to use various prepaid programs in different ways to suit the needs of specific segments. Although behaviors of one generation may not predict the upcoming behavior from a succeeding generation, there are opportunities to learn from one generation and use those traits to spur new uses in upcoming strategies. 

The generational approach also emphasizes the ongoing digital divide. As prepaid card programs become more omnichannel and digitally available, younger digitally native users differentiate themselves through their preferences for receiving and using prepaid cards. The divide between the digitally native generations Y and Z and the traditional Baby Boomer generation leaves the often-overlooked Generation X group in the middle, both in adapting to new uses and in showing more traditional redemption and purchase options.

Key questions discussed in this report: 

• How do different generations use prepaid card products? 
• What can providers learn from key similarities and differences among generations? 
• Why should prepaid providers take different approaches to different market segments?