Peoples Trust See Strong Growth for Prepaid In Canada

by Ben Jackson 0

Peoples Trust, a Canadian federally charted bank, reported double digit growth in its prepaid dollar volume from 2014 to 2015 in a press release

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Peoples has issued more than 30 million prepaid cards across 750+ programs in Canada, totaling more than CA$1.2 billion in card loads last year. Peoples is seeing an uptick in new market entrants, in particular from the U.S. as the prepaid market for both consumers and businesses expands. These companies have a unique need for Canadian issuing expertise to navigate the varying regional and national regulations and protocols. In more than a decade of serving the prepaid market, Peoples has built a robust issuing infrastructure to reach and properly support national payments programs of this type.

You can find the press release here:

Mercator Advisory Group is working with the Canadian Prepaid Providers Organization to conduct a survey of issuers in Canada and create an estimate of the market size for the open-loop prepaid market. The data will provide an examination of the size and shape of the Canadian market.

Issuers can find the survey here:

All individual data will be kept anonymous. Data will be aggregated in such a way that no individual responses can be reversed engineered.

Overview by Ben Jackson, Director, Prepaid Advisory Service at Mercator Advisory Group