DUBLIN, December 29, 2020 / PRNewswire / – The report “17th Annual US Open Loop Prepaid Card Market Forecast 2020-2024, Part 2” has been added to ResearchAndMarkets.com from offer.
17th Annual U.S. Open Loop Prepaid Card Market Forecast 2020-2024 Part II Reveals Certain Open Loop Prepaid Verticals Show Capacity For Growth While Others Including Campus , show a drastic and probable secular decline.
Forecasts are derived from market insight gained through research conducted since 2004. However, even this archive of more than a decade of historical data provides little guidance on the future of rapidly growing and challenging markets. disruptive technologies and services as well as new regulatory constraints. These factors, combined with a dependence on sources of funding closely linked to the economy and consumer confidence, make the prepaid market volatile and variable from one segment to another.
Given the strong economy of 2019 and new regulations that have started April 1, 2019, followed by the social and economic disruption of the COVID-19 pandemic of 2020, the potential for dramatic shifts between prepaid card segments is evident. The results for 2019 and the forecast for the future predict precisely this type of volatility for certain segments.
“Government funding is not necessary for the health of an open-loop prepaid vertical industry, even if it doesn’t hurt” said Theodore Iacobuzio, vice-president and general manager of the research division. “For example, open-loop restricted network loads show secular growth in the intervening years of the new decade.”
Highlights of this report include:
- This is the second part of the annual open-loop prepaid market forecast and covers all types of open-loop cards except those in the Cash Access category, which was covered in the first part.
- The open-loop prepaid market is highly segmented as the industry develops different types of cards for different use cases, ranging from campus cards to in-store restricted network cards.
- Most of these segments showed some growth in 2019, due to the strong economy that year, although some segments showed weakness that would be exacerbated by the arrival of the COVID-19 virus towards the end of the first. quarter of 2020.
- While the publisher predicts an overall growth in prepaid open-loop charges United States at 4.1% until 2024, reaching a total of $ 466.2 billion, some segments, especially outside the Cash Access category, have suffered badly under the impact of the virus and will take years to recover, if they do.
- Government attitudes towards prepaid cards as disbursement mechanisms for state funding vary and in themselves represent exogenous events as serious as COVID-19 itself for the state of l ‘company.
- It’s safe to say that some categories of open-loop prepaid cards will change in much the same way the global economy will change, and is changing, under the impact of the virus.
Main topics covered:
A note on the methodology
Open Loop Market Load Forecast
3. Category of working time and expenditure
Open loop events and meetings
Open-loop employee and partner incentives
Open-loop consumption incentives
Open-loop campus segment
5. In-store gift card category (open loop)
In-store gift cards
6. Government category (open loop)
Temporary open-loop assistance for needy families (TANF)
7. Insurance category
8. Payroll and Benefits Category
Open Loop Benefit Cards
FSA / HSA cards
9. Other open loop maps
- American Express
- Green Point
For more information on this report, visit https://www.researchandmarkets.com/r/hqen47
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