Think the Big Banks’ Exiting Prepaid Means the Future is Bleak? Think Again
April 8, 2015
According to the Federal Reserve, prepaid cards are the fastest growing form of non-cash payments. Gift card spending has grown to more than $100 billion in 2014, according to the Mercator Advisory Group. The prepaid industry is witnessing phenomenal growth and change with companies launching exciting new payments technologies and novel new prepaid products. Simply said, the prepaid industry is well-established, with or without large banks competing for space.
Businesses specializing in prepaid are better equipped to deal with the unique nature of this burgeoning industry. Talbott Roche, Blackhawk Network’s President, shared thoughts about industry consolidation and the cosmic shifts that prepaid businesses are seeing today in PaymentsSource. Read more.