22nd Annual U.S. Closed-Loop Prepaid Card Market Forecast, 2025-2029

Javelin Strategy & Research continues its long-running series on market trends in the closed-loop prepaid market by focusing on current load volume and five-year growth trends. In broad terms, Javelin expects continued growth for the closed-loop ecosystem. Top categories such as in-store gifting and incentives should enjoy continued healthy growth, whereas others, such as nutrition assistance and prepaid mobile, will likely grow at lower rates than the overall economy. Online gaming and gambling stands out again due to its outsized growth in total volume and expansion, likely due to the continued easing of regulations and demand from the public. Regulatory and economic conditions continue to have a large impact on overall market growth. Rising costs of staple items aid the growth of prepaid in many areas, but the downside continues to be seen in reduced federal funding mechanisms. 

For individual consumers, sentiment remains positive overall, with buyers and card users in the United States supporting their personal growth of closed-loop cards. Javelin’s market estimates and consumer research identity growth in card loads, the balance of gifting and self-use, and the equilibrium between digital and physical card use.

Key questions discussed in this report: 

• How are macroeconomic changes affecting growth in the closed-loop market?
• What segments are primed for outsized growth and which ones will lag behind?
• What specific issues affect the growth of each closed-loop prepaid product? 

Companies Mentioned: 

AT&T, CPI Card Group, PLI, RaiseRight, Scripzone, T-Mobile, Verizon