New report outlines prepaid card use cases including buy now pay later (BNPL), earned wage access, and cryptocurrency prepaid cards
Prepaid cards are a critical payment tool for consumers, corporations, and governments, with prepaid program managers and card networks driving flexible and innovative use cases. In a new Impact Report commissioned by Discover Global Network, U.S. Prepaid Cards: Insights From Consumers and Program Managers, research and advisory firm Aite-Novarica Group highlights prepaid card adoption across various consumer demographics as well as identifies multiple prepaid card trends and new use cases. The report also looks at the needs and requirements of the prepaid program manager—an active player in the prepaid card ecosystem.
“Prepaid cards are a critical payment tool for consumers, corporations, and governments,” says Francisco Alvarez-Evangelista, Advisor at Aite-Novarica Group. “The large number of use cases and the broad segment of the population that utilize them mean that prepaid cards are not only a popular product but also one that will continue to grow,” he explains.
“Prepaid program managers sit in the driver’s seat of the prepaid card market,” adds David Shipper, Strategic Advisor at Aite-Novarica Group and co-author of the new report. “Program managers realize that finding responsive, flexible, and innovative partners will allow them to support the in-demand capabilities and special use cases that their clients want.”
About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.