The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2014
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Open-loop pre-paid cards are being used to replace a wide range of traditional electronic and paper transfer channels in both developed and emerging markets. Total payment value on open-loop cards is projected to double over the next five years to nearly reach US$500 billion by 2018 with the US the single largest market. Government benefit cards and network branded gift cards were the functions fastest growing card types by share of total cards in circulation from 2005 to 2013.
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Throughout the Americas, government benefit cards have rapidly replaced paper disbursement. The cards are increasing transparency and are reducing programme operating costs. The US is likely to continue to be the largest market.
While other open-loop card functions have grown considerably, GPR cards remain the single largest category by cards in circulation.
The adoption of the open-loop card function globally is projected to continue over the forecast period, to reach almost US$500 billion by 2018.
The US is projected to increase its share of global open-loop pre-paid payment value to 63% by 2018 from 59% in 2013.
Consumers without access to financial services in emerging markets who need to perform an on-line payment transaction are limited to using an open-loop pre-paid card in many instances.
Competition to capture the 51% of the world’s population aged over 15 years who are either financially underserved or unbanked is increasing. In many cases, an open-loop card and a mobile platform can perform a number of financial services that otherwise would take place in a retail branch.
Visa open-loop pre-paid cards accounted for 32% of the function’s total payment value in 2012 followed by MasterCard, with 24%. However, the two largest networks have been losing share in recent years.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.