This report reveals some categories will grow under the pressure of COVID-19, while others are under assault.
Predicting the future is always a challenge, and the COVID-19 storm clouds from 2020 onward make the task even more of a crystal-ball exercise.
Nonetheless, for the 17th year, the report has attempted to balance all the forces affecting the prepaid market to produce a picture of the prepaid industry's future.
This report provides a five-year forecast (to 2024) as well as market estimate of the dollars loaded on open loop prepaid debit card programs in the U.S. market in 2019.
Highlights of this report include:
Growth in the open loop prepaid card category as a whole was positive in 2019, reaching a very healthy 13.6% year-over-year (YOY).
While the strong economy of 2019 propelled continued growth in many segments, the effects of the COVID-19 pandemic on consumer and business spending are expected to be significant beginning with 2020.
The publisher forecasts that growth in the open loop prepaid loads in the United States will be 4.1% through 2024, reaching a total of $466.2 billion.
Money and Financial Services are a bright spot in the Cash Access core open loop category. This sector is expected to continue on its growth trajectory, in spite of the challenging market environment, thanks to its use in certain consumer groups and applications.