7 Facts and Forecasts for Prepaid and Mobile
Published June 22, 2012 10:29 AM
|
Updated October 20, 2016 10:48 AM
1 Min Read
Stockbyte/Getty Images
(Image: Thinkstock)
Mobile Momentum
Mobile devices are used for just $363 million at the point of sale today, but by 2017 they are projected to add an additional $1 billion in spending. (Source: Javelin Strategy & Research)
Picking Prepaid
Consumers are expected to spend nearly $140 billion at the point of sale on prepaid cards by 2017
(Source: Javelin Strategy & Research)
Gift Cards Going Away?
and the growth in prepaid is coming at the expense of gift cards, which are projected to be used for just under $109 billion in point of sale payments in five years. (Source: Javelin Strategy & Research)
Cashing Out
Cash is also in slow decline. Cash accounted for 27% of point of sale payments last year. Javelin predicts it will drop to 23% in 2017. (Source: Javelin Strategy & Research)
Planet Prepaid
The underbanked and Generation Y are the biggest owners of prepaid cards. Generation X is also above the consumer average in its use of prepaid cards. (Source: Javelin Strategy & Research)
Plastic Providers
Thirty-seven percent of prepaid card users got their card from a retailer, though banks are close behind, having served 27% of users. (Source: Javelin Strategy & Research)
Slow and Steady
Just 13% of consumers told Javelin they have a prepaid card - but prepaid is the only bank product to grow in adoption from last year, according to the survey. (Source: Javelin Strategy & Research)
