Dublin, Dec. 30, 2019 (GLOBE NEWSWIRE) -- The "U.S., Canada, and U.K. Prepaid Markets: Similarities and Differences" report has been added to ResearchAndMarkets.com's offering.

"The prepaid debit card market is unique in that there are many product offerings under prepaid debit cards that are not widely known under that designation. People are more likely to know them as a gift, payroll, incentive, travel, or general-purpose reloadable (GPR) cards. Each country has its own set of products that function primarily the same but with major differences in the regulatory requirements. It's valuable to players in the prepaid market to see how each country is evolving in this space" the author of the report commented.

The report titled U.S., Canada, and U.K. Prepaid Markets: Similarities and Differences provides a comparison of these markets including market size, taxonomy, regulations, and key players.

Every year new data is collected and analyzed using the baseline data and trending to benchmark and forecast market size for five additional years, which helps program managers and processors to anticipate where growth will happen as well as where to expect declines.

Additionally, the report looks at the regulatory environments for prepaid debit cards, which are continually changing especially in Canada and the United Kingdom as regulators learn the nuances of the card market and where the risk lies. While some controls are necessary, prepaid programs face risks at both the state/providence and federal level provoking continual compliance concerns.

Highlights of the report include:

• Canada is the smallest of the three markets at $4.3 billion, followed by the United Kingdom at $39 billion; the United States is largest at $665 billion.
• Each of the three offers opportunities. Canada has significant room for growth, the United Kingdom is quickly embracing e-money licenses which allow fintechs to operate more like banks, and the United States prepaid market, although mature, continues to reinvent itself through new product offerings and additional robust features when compared to the other counties.
• The three taxonomies in the report show the growth difference in product offerings. The U.S. has the largest array of offerings with 11 categories, and 23 market segments. Canada has 3 categories and 17 segments, and the U.K. has 3 categories and 17 segments.
• Regulations are expected to have an impact on the prepaid segment in Canada and the U.K. Controls are decreasing the usage of anonymous prepaid cards, and strong customer authentication (full registration of the card) will be required to have full access to all features and functionality.

Key Topics Covered:

Executive Summary

Introduction

Methodology for Measuring the Market

• Sales
• Transcations
• Loads

The United States, a Mature Prepaid Debit Card Market

• Taxonomy of U.S. Prepaid Cards
• U.S. Open-Loop Market Size
• U.S. Closed-Loop Market Size
• Regulations/Compliance

Canada's Growing Prepaid Market

• Canadian Open-Loop Prepaid Market Size
• Regulation and Compliance

The U.K. Prepaid Card Market in Perspective

• Gift Card and Voucher Sales in the U.K.
• Regulatory Pressure on U.K. Prepaid Cards
• Prepaid Card Constructs

Comparing U.S., Canada, and U.K. Prepaid Market

Key Player in the U.S., Canada, and the U.K. Prepaid Markets

Conclusion

Companies Mentioned

• Bank of Canada
• Bank of Montreal
• Barclays
• Berkeley Payments
• Canadian Imperial Bank of Commerce (CIBC)
• Contis Group
• Desjardins
• Discover
• Greendot
• Halifax
• HSBC
• InComm
• KEB Hana Bank of Canada
• Laurentian Bank
• Lloyds
• Mastercard
• Ontario Disability Support Program
• PaySafe Group
• Prepaid Financial Services (PFS)
• Rapid Payroll
• Santander
• Scotiabank
• TD Canada Trust
• TSB
• US Bank
• Virgin Money
• Visa
• Wirecard

For more information about this report visit https://www.researchandmarkets.com/r/7fral0

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