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United States Open Loop Prepaid Cards Market Report 2019: Analysis of the $400+ Billion Market - Forecast to 2023
[November 08, 2019]

United States Open Loop Prepaid Cards Market Report 2019: Analysis of the $400+ Billion Market - Forecast to 2023


DUBLIN, Nov. 8, 2019 /PRNewswire/ -- The "16th Annual U.S. Open Loop Prepaid Cards Market Forecast, 2019-2023" report has been added to ResearchAndMarkets.com's offering.

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The report forecasts that growth in the open loop prepaid loads in the United States will be 2% through 2023, reaching a total of $402.8 billion.

The new research report provides an analysis of the growth and developments of the prepaid cards industry through 2023. The report examines loads, growth potential, and market dynamics in the United States across all open loop prepaid segments

This report reviews and forecasts load dollar volume for open loop segments. This forecast highlights the segments approaching market saturation as well as those that will continue to experience double-digit annual growth. The report warns that of course the economy, politics, and consumer behavior will all influence which segments grow and which decline.

Prepaid providers should be evaluating their businesses and looking for ways to move as many costs as possible to variable. Opportunities in the prepaid market shift with economic and regulatory changes, causing segments to shift in volume from year to year. Because of these shifts, successful program managers will seek to achieve a variable cost structure to take advantage of the ups and the downs. It would be wise for program managers to explore new technologies as well, such as the internet of things and new use cases such as corporate disbursements, small buiness GPR cards, or insurance and health care claims, which will be the growth markets in the years to come.



Highlights of the report include:

  • Growth in the open loop prepaid card market was positive in 2018, reaching 14.34% year-over-year (YOY).
  • As anticipated, there was high growth in Health Savings Accounts (HSAs) of 110.31% in 2018 and decline in Temporary Assistance for Needy Families (TANF) of -64.03 YOY.
  • Declines in some segments and noteworthy growth in others have led the authors to revise its expectations for the overall market.
  • The payroll segment will be interesting this year as new free checking account options and payroll wage advance systems bifurcate the market.

Key Topics Covered:


Executive Summary

Introduction

Open Loop Market Load Forecast

Cash Access Category

  • Open Loop Travel Cards
  • Money / Financial Services Cards
  • Open Loop Gift Cards
  • Remittance and P2P

Business Time and Expense Category

  • Open Loop Events and Meetings
  • Open Loop Employee and Partner Incentives
  • Open Loop Consumer Incentives

Campus

  • Open Loop Campus Segment

In-Store Gift Cards Category (Open Loop)

  • In-Store Gift Cards

Government Category (Open Loop)

  • Social Security
  • Open Loop Temporary Assistance for Needy Families (TANF)
  • Court-Ordered Payments
  • State Unemployment

Insurance Category

  • Insurance Cards

Payroll and Benefits Category

  • Payroll Cards
  • Open Loop Benefits Cards
  • FSA/HSA Cards

Conclusions

References

Companies Mentioned

  • ACE Hardware
  • Allstate
  • American Express
  • Blackhawk
  • ChexSystems
  • Chime Bank
  • Consumer Financial Protection Bureau
  • Devenir
  • Early Warning
  • Enservio
  • Farmers Insurance
  • Green Dot
  • H&R Block
  • InsurCard
  • Liberty Mutual
  • Mastercard
  • Monzo
  • Nationwide
  • Netspend, a division of Global Payments
  • PayPal
  • Safe Auto
  • State Farm
  • TeleCheck
  • Visa
  • Walmart

For more information about this report visit https://www.researchandmarkets.com/r/802dud

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:


Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com   

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Cision View original content:http://www.prnewswire.com/news-releases/united-states-open-loop-prepaid-cards-market-report-2019-analysis-of-the-400-billion-market---forecast-to-2023-300954728.html

SOURCE Research and Markets


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