Open-Loop Prepaid Card Loads Increase as a Result of the Pandemic
The report titled 18th Annual U.S. Open-Loop Prepaid Cards Market Forecasts, 2020–2025 provides an analysis of the growth and development of the open-loop prepaid cards industry through 2025. The report examines loads, growth potential, and market dynamics in the United States across all open-loop prepaid card segments.
Mercator Advisory Group’s forecast report identifies key segments that will continue to decline over the next few years as well as those forecast to grow. The economy, regulation, consumer behavior, and the COVID-19 pandemic will all influence which segments grow and which decline.
"The pandemic has affected open-loop card loads differently by segment. Most of the growth in open-loop prepaid loads came from government benefits: state unemployment and stimulus programs. Segments that displayed negative growth decreased as a consequence of COVID-19 induced impacts: decreased travel, physical location closures or delays in service amidst social distancing, and decreased consumer income. Consumers also purchased more digital open-loop gift cards. As the pandemic subsides and government benefits cease in 2021, we expect a drop in open-loop loads for 2021, followed by a slight positive trend into 2025." commented David Nelyubin, Senior Analyst of Mercator Advisory Group's Prepaid Advisory Service, the author of the report.
This report is 33 pages long and contains 22 exhibits.
Companies and other organizations mentioned in the report include: Visa, Mastercard, American Express, U.S. Department of the Treasury, U.S. Travel Association, International Trade Administration, Green Dot, FDIC, Federal Register, University of Michigan, Western Union, PCMA, U.S. Census, College Crisis Initiative, CFPB, Ace Hardware, Social Security Administration, Administration for Children and Families, PEW, National Conference of State Legislatures, United States Department Of Labor Employment & Training Administration, Center on Budget and Policy Priorities, Federal Reserve, IRS, ADP.
One of the exhibits included in this report:
- Open-loop prepaid card load category market share in 2020.
- Open-loop prepaid card loads, forecast, and analysis into 2025 by segment.
- Effects of the COVID-19 pandemic on open-loop prepaid card market segments.
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