Open loop prepaid cards from transport sector expected to drive growth of indust
Posted by paynxt360 on December 7th, 2016
Global open loop prepaid cards market size is expected to reach USD 1.3 trillion by 2022 which is driven by large section of unbanked consumers across every market, innovative service features, increased adoption of online transactions, and convenient e-payment solutions. Among emerging markets, key countries in Asia Pacific and Latin America have seen steady growth of prepaid cards in past couple of years. One of the popular usage of prepaid cards has been towards international travel, public transport, online or offline retail purchases and as part of rewards system.Recently, transport companies in emerging markets have taken initiative of venturing into open loop prepaid card segment. Below are two key initiatives, explaining this up-coming trend.
These offerings reflect the strategy adopted by transport companies and other prepaid card partners (both banks and non-financial institutions), where the attempt is to establish a relationship with the consumer. In a highly competitive environment in growth markets, cost of consumer acquisition is impacting profit margin. As a result, such partnerships are emerging as key to drive consumer acquisition at low cost and also enhance revenue growth through up-selling opportunities.Also See: Open Loop, Prepaid Cards, Loop Prepaid, Usd 1, Prepaid, Card, OpenTop Searches - Trending Searches - New Articles - Top Articles - Trending Articles - Featured Articles - Top Members
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