Closed loop card Loads drop 14% as a result of the pandemic, recovery by 2023.
New research from Mercator Advisory Group shows which segments of the U.S. prepaid card market will grow and which will shrink through 2025.
The report titled “18th Annual U.S. Closed-Loop Prepaid Cards Market Forecasts, 2020-2025” provides an analysis of the growth and development of the prepaid cards industry through 2025. The report examines loads, growth potential, and market dynamics in the United States across all closed-loop prepaid card segments.
Mercator Advisory Group's forecast report identifies key segments that will continue to decline over the next few years as well as those that should see growth. The economy, regulation, consumer behavior, and the COVID-19 pandemic will all influence which segments grow and which decline.
"The pandemic has affected closed-loop card loads differently by segment. Digital and virtual gift cards are forecasted to continue growth amid a booming e-commerce market. As the pandemic subsides and in-store foot traffic returns, in-store gift card loads will slowly come back, however, the consumer trend towards digital channels will remain, resulting in digital and virtual cards winning market share over time," commented David Nelyubin , Senior Analyst of Mercator Advisory Group's Prepaid Advisory Service, the author of the report.
This report is 26 pages long and contains 23 exhibits .
Companies and other organizations mentioned in the report include: U.S. Census, T-Mobile, Tracfone, America Movil, EIA, MBTA, IBTTA, WIC, SNAP.
One of the exhibits included in this report:
Highlights of the report include:
- Closed-loop prepaid card loads and forecast into 2025 by segment.
- Closed-loop prepaid card market share into 2025.
- Effects of the COVID-19 pandemic on prepaid card market segments.