United States Prepaid Cards Market 2020-2024: COVID-19 Pandemic Reshaping the Industry
Wednesday, July 8, 2020
DUBLIN, June 30, 2020 /PRNewswire/ -- The "Prepaid Cards in the U.S., 7th Edition" report has been added to ResearchAndMarkets.com's offering.
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The COVID-19 pandemic is reshaping the prepaid card industry.
As store closures hobble the mighty J-hook, and related trends push prepaid card users into the digital realm, these cash-loyal consumers find themselves choosing their card over cash and coins - and while short-term payment value pain hits most segments of the prepaid card market, long-term interchange fee revenue gains are in the making.
Of course, card type and other growth factors help shape the longer-term outcome: B2B prepaid cards, for example, continue their growth tear, while the proliferation of app-based prepaid digital accounts pressures consumer general-purpose reloadable prepaid card growth.
Overall, the publisher expects the prepaid card market to grow by a healthy 6% average annual rate from 2020 to 2024.
Prepaid Cards in the U.S., 7th Edition provides insight into significant near-term and longer-term factors shaping this varied and growing card segment. More specifically, this report:
-- Provides a market size and forecast for the prepaid card market,
including trended payment value for general use (open-loop) and private
label (closed-loop) prepaid cards, by card type, with related growth
opportunity analysis
-- Assesses in detail the effects of the COVID-19 pandemic on the prepaid
card industry, including cash conversion, payment electronification,
interchange, and deposits, as well as effects by card type
-- Gauges (reloadable and non-reloadable) prepaid card use trends during
2014-2019, breaking prepaid card use down by card network; banked
status; credit score; cash preference; and app and smartphone use
-- Identifies top general-purpose prepaid card brand and card network
brands, by demographic
-- studies reasons for choosing general-purpose reloadable prepaid cards,
including use cost; overdraft fee avoidance and debt management; credit
and bank account substitution; breadth of acceptance; and reloading
method
-- Explores prepaid card marketer and issuer strategies, including those of
Axos Financial, The Bancorp Bank, Green Dot, MetaBank and Netspend
-- Analysis includes competitive positioning, new product introductions,
company innovations, and trended performance analysis.
-- Heavy emphasis is placed on add-value proprietary estimates for load
value, purchase value, and other metrics otherwise not published by
these industry participants.
-- Thorough analysis of the app-based digital banking threat is also
included.
-- Explores a variety of prepaid card industry challenges and solutions,
including regulatory issues, pricing, and profit factors, broadening the
target audience, bank account competition, and fraud
Companies Mentioned
-- Axos Financial
-- Green Dot Corporation
-- MetaBank
-- Netspend
-- The Bancorp, Inc.
Key Topics Covered
1. Executive Summary
-- Report Scope
-- Report Summary
-- Market Size and Forecast
-- Coronavirus Pandemic Impact on the Prepaid Card Industry
-- App-Based Digital Banking Threatens GPR Prepaid Industry
-- Prepaid Card Use Trends
-- General-Purpose Reloadable Prepaid Card Feature and Use Rationales
-- Prepaid Card Marketer and Issuer Strategies
2. Market Size and Forecast
-- U.S. Prepaid Card Market Size and Forecast
-- Payment Value to Reach $377 Billion in 2020
-- 2024 Payment Value Forecasted at $475.3 billion
-- "Open-Loop" Prepaid Card Market Size, by Card Type
-- "Closed-Loop" Prepaid Card Market Size, by Card Type
-- Growth Opportunity
-- Sideways/Down: Consumer General-Purpose Reloadable Prepaid Cards
-- Near-Term Declines; Long-Term Incremental Growth: Gift Cards
-- Strong Near-Term/Incremental Long-Term Growth: Government Prepaid Cards
-- Moderate-to-Strong Growth: Healthcare Cards
-- Near-Term Declines; Moderate-to-Strong Growth: Payroll Cards
-- Strong Growth: B2B Payments
3. Challenges and Opportunities
-- Coronavirus Pandemic Impact on the Prepaid Card Industry
-- General-Purpose Prepaid Card Spend to Take Discretionary &
Non-Discretionary Hit
-- Near- and Long-Term: Prepaid Cardholder Cash Preferences to Give Way
-- Near- and Long-Term: In-Store Purchases Pressured and Online Purchases
Benefit
-- Near- and Long-Term: The J-Hook Takes a Gut Punch
-- Near- and Long-Term: Interchange Wins
-- Near-Term: Stimulus Bump
-- Near-Term Winner: Government Benefits Programs
-- Near-Term Loser: Payroll Cards
-- Near-Term Loser: Tax Refund Cards
-- App-Based Digital Banking Threatens GPR Prepaid Industry
-- The Good: Prepaid Cards Adapt to Digital Banking World
-- The Spoiler? Fintech Marketers Undercut on Price and Deliver on Features
-- In Focus: Chime
-- The Consequences
4. Prepaid Card Use Trends
-- General-Purpose Prepaid Card Use Trends: 2014-2019
-- Reloadable and Non-Reloadable Card Use Declines
-- Lower-Income Adults Remain a Sweet Spot
-- Visa Leads Use but Mastercard Is Gaining Share
-- General-Purpose Reloadable Prepaid Card Use: 2014-2019
-- 18- to 34-Year-Olds as a Trouble Spot
-- Declines Are an Industry Trend, not a Network-Specific One
-- General-Purpose Non-Reloadable Prepaid Card Use: 2014-2019
-- Middle-Income Traction
-- Bank Account, Smartphone, and Banking App Use Analysis
-- General-Purpose Prepaid Card Brand and Card Network Brand Use
-- Overview
-- Demographic Analysis
5. General-Purpose Reloadable Prepaid Card Feature and Use Rationales
-- General-Purpose Reloadable Prepaid Card Features Used
-- Money Movement and Payment Features: Demographic Analysis
-- Financial Management Features: Demographic Analysis
-- Reasons for Choosing Reloadable Prepaid Cards
-- Acceptance and No Fees Rule the Roost
-- Influence of Direct Deposit on Card Use
6. Prepaid Card Marketer & Issuer Strategies
-- Axos Financial
-- Prepaid Card Programs
-- The Tax Man Cometh: H&R Block Prepaid Emerald Card and Related Products
-- The Card Leverages Ancillary Products to Grow
-- H&R Block Revenue Trends Suggest Card Growth
-- Deposits Trends Suggest Emerald Card Growth
-- But Cardholder Engagement Remains a Struggle
-- Refund Advance Origination Trends Suggests Room to Grow
-- H&R Block Relationship Strongly Impacts Deposits
-- Prepaid Card Interchange Exemption Breach
-- The Bancorp, Inc.
-- Regional Lender and Prepaid Card Leader
-- Variety of Prepaid Card Programs, Program Managers, and Card Verticals
-- But Non-Prepaid Debit Fintech Partnerships Drive Growth
-- And General-Purpose, Reloadable Cards Are Being Replaced
-- Healthcare a Bright Spot
-- Prepaid Card Deposits on the Rise
-- Real-Time ACH Growth
-- Performance Trends
-- Prepaid Card Growth Trends
-- Green Dot Corporation
-- Market Segments
-- Operating Segments
-- Key Program Brands
-- Key Relationship: Walmart
-- The Walmart MoneyCard
-- Stimulus Grab
-- Key Competitive Threat: Low-Cost App-Based Digital Banking
-- Key New Product: Unlimited by Green Dot
-- Key Service: BaaS
-- Key Performance Trends
-- Key Revenue Trends
-- Per-Card Revenue, Load Value, and Purchase Value Trends
-- COVID Crunch
-- MetaBank
-- Card Brands and Segments
-- Performance Trends
-- MPS Card Fee Income Stagnation and Decline
-- Netspend
-- Overview
-- Competitive Positioning
-- Card Brands
-- Retail Distribution
-- Performance Trends
-- Debit Competition Affects Card Base and Masks Load Value Trends
-- Direct Deposit Remains King
-- COVID Crunch
For more information about this report visit https://www.researchandmarkets.com/r/13bno4
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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