Canadian Open-Loop Prepaid Card Market: 2021 Results and Forecast Update

As a general “return to normal” becomes ubiquitous in Canada, prepaid providers and supporters are keeping the Canadian open-loop prepaid card market’s momentum going.  

April 19, 2022 –The COVID-19 pandemic’s volatility and uncertainty affected all aspects of banking. While the pandemic has undoubtedly created many challenges, it has also created significant opportunity within financial services. The Canadian open-loop prepaid card market—representing a diversity of market participants that deliver everything from open-loop gift cards to digital-first bank account alternatives and business-to-business commercial cards—was no exception.

This Impact Report is the second iteration of research conducted by Aite-Novarica Group and commissioned by Canadian Prepaid Providers Organization (CPPO), summarizing the Canadian open-loop prepaid card market’s resiliency through the COVID-19 pandemic. Aite-Novarica Group collected data elements from Q1 2020 through Q4 2021 from multiple issuers, program managers, and card processors operating in Canada to size and forecast the Canadian open-loop prepaid card market through 2025.

This 27-page Impact Report contains 11 figures and one table. Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report and the corresponding charts.

Related Content

Account Ownership and Digital Access: Consumer Financial Services in Germany, the U.K., and the U.S.

Adoption of and access to financial services across the developed world isn’t always equitable along socioeconomic and demographic divides.  

U.S. Prepaid Cards: Insights From Consumers and Program Managers

Prepaid cards continue to evolve, and new use cases are emerging for consumer, government, and corporate-funded prepaid card segments.  

Get Summary Report

"*" indicates required fields