Report: Total Prepaid Card Market Will More than Double Over the Next Three Years to $672 Billion - Yahoo! News

Report: Total Prepaid Card Market Will More than Double Over the Next Three Years to $672 Billion - Yahoo! News
New Research from Mercator Advisory Group: Seventh Annual Prepaid Card Forecast

The total dollars loaded onto prepaid cards will climb to $672 billion over the next three years, which is more than double the $330.03 billion loaded onto these cards in 2009. Increased government activity, combined with growing consumer adoption, grew the prepaid market by $60.7 billion in 2009, and these forces will accelerate in the near future. Mercator Advisory Group forecasts that the Closed-Loop Prepaid Market will achieve a Compound Annual Growth Rate (CAGR) of 5.4% between 2007 and 2013 and that the Open-Loop Prepaid Market will achieve a CAGR of 36.6% over that same period.

In its Seventh Annual Prepaid Market Forecasts 2010 to 2013 report, Mercator Advisory Group has found that the large base of prepaid loads identified in The Seventh Annual Open-Loop Prepaid Market Assessment has sped up the transition time when Open-Loop load value will exceed Closed-Loop load value to 2011. In essence, increased consumer adoption coupled with greater loads in key government sectors including unemployment, court ordered payments, and social security; continue to drive increased loads for Open-Loop Prepaid Cards.