The open-loop prepaid market still has plenty of room to grow in Canada, but providers will need to tailor their products to fill the right needs in the market.
Boston, MA (PRWEB) June 21, 2016
Building on its prepaid benchmarking work in the United States, Mercator Advisory Group has turned its sights north to look at the size of the open-loop prepaid market in Canada. The results are documented in the new research report, The Canadian Open-Loop Prepaid Market: 2015.
Mercator worked with the Canadian Prepaid Providers Organization to develop a survey, create a taxonomy of the Canadian open-loop prepaid market, and identify the key players. The information gathered was used to create an estimate of the total market size and for those segments where respondent confidentiality could be guaranteed. While the market is smaller than the U.S., as would be expected, the information gathered suggests that it still holds opportunities.
“The open-loop prepaid market still has plenty of room to grow in Canada, but providers will need to tailor their products to fill the right needs in the market,” commented Ben Jackson, Director, Prepaid Advisory Service.
Highlights of the research report include:
- Mercator Advisory Group was asked by the Canadian Prepaid Providers Organization to benchmark the size of the Canadian open-loop prepaid market for 2015.
- Mercator undertook a survey of program managers and issuers to identify the size of the market and what active segments exist.
- The Canadian open-loop prepaid market has eight active segments out of a possible 17. This suggests that there is room for future growth in the market.
- The total market size is CA$3.1 billion in dollars loaded onto open-loop prepaid cards of all types in 2015.
This research report contains 17 pages and 11 exhibits.
Members of Mercator Advisory Group’s Prepaid Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
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About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.