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Prepaid Credit & Debit Card Providers in the US - Industry Market Research Report

Prepaid Credit & Debit Card Providers in the US - Industry Market Research Report

  • September 2019
  • 34 pages
  • ID: 5103912
  • Format: PDF
  • Ibisworld

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In the cards: The shift toward ecommerce and the risk of credit card fraud will continue to attract consumers to the industry

Abstract

Prepaid Credit & Debit Card Providers
The Prepaid Credit and Debit Card Providers industry has experienced strong growth over the five years to 2019. As the number of individuals with poor or limited credit and without qualifications for normal checking or savings accounts has grown, so has demand for prepaid cards. The Durbin Amendment has also contributed to demand for prepaid cards by capping the interchange fees banks can charge on credit cards. Additionally, the number of e-commerce sales has grown strongly over the five years to 2019. Consumers who do not have conventional credit or debit cards purchase prepaid cards to complete online transactions. Over the five years to 2024, industry revenue is expected to continue to grow. Various factors will support strong industry performance, including an improving economy and higher disposable income levels, which will lead to increased transaction volumes, effectively raising interchange revenue. Middle-to-upper-income consumers will flock to prepaid credit cards due to the ongoing risk of credit card fraud and identity theft.

This industry includes companies that issue preloaded, open-loop credit and debit cards to consumers for making purchases. The industry does not include electronic benefits transfer (EBT) cards or closed-loop, store-branded gift cards.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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