Boston, October 21, 2021 –While the pandemic has undoubtedly created many challenges, it has also created opportunity within financial services. The Canadian open-loop prepaid card market experienced significant growth as cardholder habits changed and government payments for pandemic relief increased. With the upheaval and immediate need to adjust to a new normal, Canadian prepaid providers were quick to accommodate a more digital-first and rapidly adapting Canadian consumer, all while expanding the realm of use cases for prepaid form factors across the Canadian payments landscape.

This Impact Report, commissioned by the Canadian Prepaid Providers Organization (CPPO), the leading industry group representing the Canadian prepaid card market and its participants, analyzes the size and scope of the Canadian prepaid card market, taking a comprehensive look at the various segments that comprise the prepaid card market, the factors impacting the market, and its forecast trajectory through 2025. It is based on Aite-Novarica Group’s collection of data elements corresponding to Q1 2020 through Q2 2021 from multiple issuers, program managers, and card processors operating in Canada.

This 22-page Impact Report contains 11 figures and one table. Clients of Aite-Novarica Group’s Commercial Banking & Payments or Retail Banking & Payments service can download this report and the corresponding charts.

This report mentions the Canadian Prepaid Providers Organization.