Boston, June 9, 2021 – The prepaid market has gone through a transformational change in the last 10 years. Market participants are reexamining prepaid issuance, finding ways to leverage additional revenue streams, and identifying innovative and progressive ways to use the power of prepaid cards to solve the decade’s biggest challenges—all while facing the daunting threats of evolving consumer demands and market pressures that are revolutionizing the way payments happen.

This report examines the breadth and depth of the U.S. prepaid industry, outlining key market participants and the primary use cases of prepaid cards. It is based on interviews conducted during Q3 and Q4 2020 with senior leaders and executives with significant experience in prepaid card issuing programs at 13 different issuers and program managers. The interviews were augmented with extensive desk research, publicly available government data, and Aite Group’s knowledge of the industry.

This 32-page Impact Report contains three figures and five tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions ADP, American Express, Apple, AT&T, Arroweye Solutions, Axiom Bank, Axos Bank, Bank of America, BitPay, Blackhawk Network, Brightwell Payments, Capital One, Central Bank of Kansas City, Citibank, Comdata, Comerica Bank, Current, DailyPay, Discover, Earnin, Fifth Third Bank, FIS, Fiserv, FSV Payment Systems, Galileo FT, Global Cash Card, Global Payments, Google, Green Dot, Greenlight Financial Technology, Harland Clarke, HyperWallet Systems, InComm, JP Morgan Chase, Marqeta, Mastercard, MetaBank, Metropolitan Commercial Bank, MB Financial, Netspend, Onbe, PayActiv, Payoneer, PayPal, PLS, PNC Bank, Prepaid Technologies, PSCU Financial Services, Regions Bank, Samsung, Sightline Payments, SOLE Financial, South State Bank, Starbucks, Stride Bank, Sunrise Banks, T-Mobile, TD Bank, The Bancorp Bank, Transcard, Truist, US Bank, Visa, and Wells Fargo.