DUBLIN, Nov. 8, 2019 /PRNewswire/ -- The "16th Annual U.S. Open Loop Prepaid Cards Market Forecast, 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The report forecasts that growth in the open loop prepaid loads in the United States will be 2% through 2023, reaching a total of $402.8 billion.
The new research report provides an analysis of the growth and developments of the prepaid cards industry through 2023. The report examines loads, growth potential, and market dynamics in the United States across all open loop prepaid segments
This report reviews and forecasts load dollar volume for open loop segments. This forecast highlights the segments approaching market saturation as well as those that will continue to experience double-digit annual growth. The report warns that of course the economy, politics, and consumer behavior will all influence which segments grow and which decline.
Prepaid providers should be evaluating their businesses and looking for ways to move as many costs as possible to variable. Opportunities in the prepaid market shift with economic and regulatory changes, causing segments to shift in volume from year to year. Because of these shifts, successful program managers will seek to achieve a variable cost structure to take advantage of the ups and the downs. It would be wise for program managers to explore new technologies as well, such as the internet of things and new use cases such as corporate disbursements, small business GPR cards, or insurance and health care claims, which will be the growth markets in the years to come.
Highlights of the report include:
- Growth in the open loop prepaid card market was positive in 2018, reaching 14.34% year-over-year (YOY).
- As anticipated, there was high growth in Health Savings Accounts (HSAs) of 110.31% in 2018 and decline in Temporary Assistance for Needy Families (TANF) of -64.03 YOY.
- Declines in some segments and noteworthy growth in others have led the authors to revise its expectations for the overall market.
- The payroll segment will be interesting this year as new free checking account options and payroll wage advance systems bifurcate the market.
Key Topics Covered:
Open Loop Market Load Forecast
Cash Access Category
- Open Loop Travel Cards
- Money / Financial Services Cards
- Open Loop Gift Cards
- Remittance and P2P
Business Time and Expense Category
- Open Loop Events and Meetings
- Open Loop Employee and Partner Incentives
- Open Loop Consumer Incentives
- Open Loop Campus Segment
In-Store Gift Cards Category (Open Loop)
- In-Store Gift Cards
Government Category (Open Loop)
- Social Security
- Open Loop Temporary Assistance for Needy Families (TANF)
- Court-Ordered Payments
- State Unemployment
- Insurance Cards
Payroll and Benefits Category
- Payroll Cards
- Open Loop Benefits Cards
- FSA/HSA Cards
- ACE Hardware
- American Express
- Chime Bank
- Consumer Financial Protection Bureau
- Early Warning
- Farmers Insurance
- Green Dot
- H&R Block
- Liberty Mutual
- Netspend, a division of Global Payments
- Safe Auto
- State Farm
For more information about this report visit https://www.researchandmarkets.com/r/802dud
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SOURCE Research and Markets