fbpx
Thursday, June 30, 2022

Small but Mighty, the Canadian Prepaid Market Is Experiencing Incredible Growth

Must read

New Research from Mercator Advisory Group examines drivers of growth and emerging opportunities within the Canadian prepaid market.

BOSTON, April 25, 2022 /PRNewswire-PRWeb/ — Mercator Advisory Group’s most recent report, Canadian Prepaid Market: Rapid Growth and Developing Opportunities, pulls from both primary and secondary data to develop an overview of the Canadian prepaid market. While relatively small, the market is growing rapidly and presents significant opportunities for prepaid issuers.

The report examines the driving forces behind the industry’s remarkable growth and identifies recent market developments. After identifying some of the most compelling opportunities for involvement with the prepaid industry in Canada, the report concludes with recommendations for the reader.

“While prepaid serves as an important tool for under-banked Canadians, this is insufficient to explain the incredible growth of the Canadian prepaid market. In 2021, the Canadian open-loop prepaid market reached an estimated $US 6.9 billion, up 80% from 2019. The market is expected to nearly double within the next four years, forecast to reach US $13.7 billion by 2025. By comparison, the U.S. open-loop prepaid market has grown by 53% since 2019 and is projected to grow 29% by 2025, when it is expected to reach a total of US $735 billion. As these data indicate, the U.S. prepaid market is much larger than that of its neighbor to the north, but the Canadian prepaid market is growing significantly more quickly,” stated the author of the report, Laura Handly, senior analyst at Mercator Advisory Group.

Highlights of this report include:

  • An overview of the Canadian prepaid market
  • An exploration of the market’s major drivers of growth
  • Key opportunities within the space
  • Recommendations for issuers and processors of prepaid cards

 

This report is 14 pages long and contains 4 exhibits.

Members of Mercator Advisory Group Prepaid Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.

Please visit us online at http://www.mercatoradvisorygroup.com.

For more information and media inquiries, please call Mercator Advisory Group’s main line: 1-781-419-1700 or send email to media@mercatoradvisorgroup.com.

For free industry news, opinions, research, company information, and more, visit us at http://www.PaymentsJournal.com.

Follow us on Twitter @ http://twitter.com/MercatorAdvisor.

About Mercator Advisory Group

Mercator Advisory Group, part of the Escalent family, is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world’s largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.

Media Contact

Karen Yetter, Mercator Advisory Group, 781-419-1700, kyetter@mercatoradvisorygroup.com

Twitter

 

SOURCE Mercator Advisory Group

spot_img

More articles

Latest article