As consumers move away from cash and checks, fraud risks shift, and the popularity of buy now, pay later programs increases, the Canadian prepaid account market continues to grow consistently, staying resilient and posting gains despite exits within the market. Datos Insights estimates it could exceed CA$17.4 billion in annual loads by 2028.

This report is the third iteration summarizing the Canadian prepaid account market. It finalizes Datos Insights’ market sizing through the end of 2021 and refreshes the forecast through 2028. Datos Insights collected data elements corresponding to Q3 2021 and Q4 2023 from multiple issuers, program managers, and card processors operating in Canada to compile the sizing and forecast. This data, along with Q1 2020 through Q2 2021 data used in the previous installment of this report, was sourced directly from various market participants.

Clients of Datos Insights’ Commercial Banking & Payments and Retail Banking & Payments services can download this report.