It is forecasted that in 2026, the value of prepaid card transactions will be only 50% higher than the forecast for contactless payment transactions. Juniper said the growth in prepaid card transactions is driven by the continuous replacement of cash, as economies move increasingly towards digital payments globally.

Research has identified prepaid cards as critical to ensuring that cards that aren't on the bank's list of cards are included in the digital payments wave. The study recommends that vendors should focus on building robust distribution platforms that can cope with token issuance at scale and at low cost, or else they will lose their edge. in the market relative to others.

The study "Prepaid Cards: Trends, Vendor Strategy & Market Forecast 2022-2026" released by Juniper Research has revealed that future prepaid card market growth will present an opportunity business significant revenue for the prepaid card platform, with an opportunity to reach over $32 billion in revenue globally by 2026 compared to 22 billion in 2021.

- Theo Thepaypers -