How prepaid cards can help banks to grow despite the pandemic: a multi-case study

11 noiembrie 2020

Despite the pandemic, the prepaid cards market is showing positive dynamics. In 2020, the sector is estimated to grow half as fast as last year, and in the next six years, it will achieve an annual growth rate of 11.69%, according to an OpenWay Group report. This pace almost equals to what was forecast before the pandemic.

The market concentration is relatively low, with three top issuers of prepaid cards taking no more than 13.5% of the global market, so there is no monopoly yet. 

Banks can capitalize on the opportunity if they tailor their prepaid products to the needs of the most promising clients: 

. Governments that are using prepaid cards to disburse financial aid safely and promptly;

. Transport authorities who want to ensure quick access to whichever means of transport a passenger prefers;

. Retailers that are seeking a new source of income to sustain their revenues;

. Corporates who need to support their employees and have full control of their business expenses.

Some B2B customers appear to be the most promising for adopting new prepaid products. Projects targeting government, retail, and corporate segments are expected to enjoy an even higher growth rate than issuance of general-purpose prepaid cards. Transport-related projects seem attractive as well.

This multi-case study explores how issuing banks and processors can make successful prepaid products for governments, transport authorities, retailers, and corporates. What technologies and business advantages are needed to launch viable and profitable solutions? An overview of best practices.


Discover the projects that succeeded and those that failed in these segments. Get an idea of how to create a prepaid product that will let you withstand times of emergency, win against growing competition, and foster financial inclusion.

This multi-case study was produced by OpenWay, a top-ranked provider of digital payments software. Prepaid card issuers create their products on the OpenWay’s Way4 platform and succeed: Enfuce,a cloud-based card issuing processor, enabling corporate prepaid cards for Pleo and an all-inclusive mobility-as-a-service app Whim; Comdata, a major payroll and corporate expense issuer in the US; and many other banks and payments services partners.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?