DUBLIN, June 30, 2020 /PRNewswire/ -- The "Prepaid Cards in the U.S., 7th Edition" report has been added to ResearchAndMarkets.com's offering.
The COVID-19 pandemic is reshaping the prepaid card industry.
As store closures hobble the mighty J-hook, and related trends push prepaid card users into the digital realm, these cash-loyal consumers find themselves choosing their card over cash and coins - and while short-term payment value pain hits most segments of the prepaid card market, long-term interchange fee revenue gains are in the making.
Of course, card type and other growth factors help shape the longer-term outcome: B2B prepaid cards, for example, continue their growth tear, while the proliferation of app-based prepaid digital accounts pressures consumer general-purpose reloadable prepaid card growth.
Overall, the publisher expects the prepaid card market to grow by a healthy 6% average annual rate from 2020 to 2024.
Prepaid Cards in the U.S., 7th Edition provides insight into significant near-term and longer-term factors shaping this varied and growing card segment. More specifically, this report:
Provides a market size and forecast for the prepaid card market, including trended payment value for general use (open-loop) and private label (closed-loop) prepaid cards, by card type, with related growth opportunity analysis Assesses in detail the effects of the COVID-19 pandemic on the prepaid card industry, including cash conversion, payment electronification, interchange, and deposits, as well as effects by card type Gauges (reloadable and non-reloadable) prepaid card use trends during 2014-2019, breaking prepaid card use down by card network; banked status; credit score; cash preference; and app and smartphone use Identifies top general-purpose prepaid card brand and card network brands, by demographic studies reasons for choosing general-purpose reloadable prepaid cards, including use cost; overdraft fee avoidance and debt management; credit and bank account substitution; breadth of acceptance; and reloading method Explores prepaid card marketer and issuer strategies, including those of Axos Financial, The Bancorp Bank, Green Dot, MetaBank and Netspend Analysis includes competitive positioning, new product introductions, company innovations, and trended performance analysis. Heavy emphasis is placed on add-value proprietary estimates for load value, purchase value, and other metrics otherwise not published by these industry participants. Thorough analysis of the app-based digital banking threat is also included. Explores a variety of prepaid card industry challenges and solutions, including regulatory issues, pricing, and profit factors, broadening the target audience, bank account competition, and fraud Companies Mentioned
Axos Financial Green Dot Corporation MetaBank Netspend The Bancorp, Inc. Key Topics Covered
1. Executive Summary
Report Scope Report Summary Market Size and Forecast Coronavirus Pandemic Impact on the Prepaid Card Industry App-Based Digital Banking Threatens GPR Prepaid Industry Prepaid Card Use Trends General-Purpose Reloadable Prepaid Card Feature and Use Rationales Prepaid Card Marketer and Issuer Strategies 2. Market Size and Forecast
U.S. Prepaid Card Market Size and Forecast Payment Value to Reach $377 Billion in 2020 2024 Payment Value Forecasted at $475.3 billion "Open-Loop" Prepaid Card Market Size, by Card Type "Closed-Loop" Prepaid Card Market Size, by Card Type Growth Opportunity Sideways/Down: Consumer General-Purpose Reloadable Prepaid Cards Near-Term Declines; Long-Term Incremental Growth: Gift Cards Strong Near-Term/Incremental Long-Term Growth: Government Prepaid Cards Moderate-to-Strong Growth: Healthcare Cards Near-Term Declines; Moderate-to-Strong Growth: Payroll Cards Strong Growth: B2B Payments 3. Challenges and Opportunities
Coronavirus Pandemic Impact on the Prepaid Card Industry General-Purpose Prepaid Card Spend to Take Discretionary & Non-Discretionary Hit Near- and Long-Term: Prepaid Cardholder Cash Preferences to Give Way Near- and Long-Term: In-Store Purchases Pressured and Online Purchases Benefit Near- and Long-Term: The J-Hook Takes a Gut Punch Near- and Long-Term: Interchange Wins Near-Term: Stimulus Bump Near-Term Winner: Government Benefits Programs Near-Term Loser: Payroll Cards Near-Term Loser: Tax Refund Cards App-Based Digital Banking Threatens GPR Prepaid Industry The Good: Prepaid Cards Adapt to Digital Banking World The Spoiler? Fintech Marketers Undercut on Price and Deliver on Features In Focus: Chime The Consequences 4. Prepaid Card Use Trends
General-Purpose Prepaid Card Use Trends: 2014-2019 Reloadable and Non-Reloadable Card Use Declines Lower-Income Adults Remain a Sweet Spot Visa Leads Use but Mastercard Is Gaining Share General-Purpose Reloadable Prepaid Card Use: 2014-2019 18- to 34-Year-Olds as a Trouble Spot Declines Are an Industry Trend, not a Network-Specific One General-Purpose Non-Reloadable Prepaid Card Use: 2014-2019 Middle-Income Traction Bank Account, Smartphone, and Banking App Use Analysis General-Purpose Prepaid Card Brand and Card Network Brand Use Overview Demographic Analysis 5. General-Purpose Reloadable Prepaid Card Feature and Use Rationales
General-Purpose Reloadable Prepaid Card Features Used Money Movement and Payment Features: Demographic Analysis Financial Management Features: Demographic Analysis Reasons for Choosing Reloadable Prepaid Cards Acceptance and No Fees Rule the Roost Influence of Direct Deposit on Card Use 6. Prepaid Card Marketer & Issuer Strategies
Axos Financial Prepaid Card Programs The Tax Man Cometh: H&R Block Prepaid Emerald Card and Related Products The Card Leverages Ancillary Products to Grow H&R Block Revenue Trends Suggest Card Growth Deposits Trends Suggest Emerald Card Growth But Cardholder Engagement Remains a Struggle Refund Advance Origination Trends Suggests Room to Grow H&R Block Relationship Strongly Impacts Deposits Prepaid Card Interchange Exemption Breach The Bancorp, Inc. Regional Lender and Prepaid Card Leader Variety of Prepaid Card Programs, Program Managers, and Card Verticals But Non-Prepaid Debit Fintech Partnerships Drive Growth And General-Purpose, Reloadable Cards Are Being Replaced Healthcare a Bright Spot Prepaid Card Deposits on the Rise Real-Time ACH Growth Performance Trends Prepaid Card Growth Trends Green Dot Corporation Market Segments Operating Segments Key Program Brands Key Relationship: Walmart The Walmart MoneyCard Stimulus Grab Key Competitive Threat: Low-Cost App-Based Digital Banking Key New Product: Unlimited by Green Dot Key Service: BaaS Key Performance Trends Key Revenue Trends Per-Card Revenue, Load Value, and Purchase Value Trends COVID Crunch MetaBank Card Brands and Segments Performance Trends MPS Card Fee Income Stagnation and Decline Netspend Overview Competitive Positioning Card Brands Retail Distribution Performance Trends Debit Competition Affects Card Base and Masks Load Value Trends Direct Deposit Remains King COVID Crunch For more information about this report visit www.researchandmarkets.com/r/13bno4
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Source: Company press release.