1
CORPORATE PAYMENT CARDS REBATE/PROMOTIONAL CARDS DIFFERENT KINDS OF PREPAID CARDS IN CANADA TWO TYPES OF PREPAID CARDS: OPEN-LOOP AND CLOSED-LOOP OPEN-LOOP PREPAID CARDS CLOSED-LOOP PREPAID CARDS SINGLE-LOAD CARDS The global prepaid card market is expected to reach $3,653B globally by 2022. *Allied Market Research Cards are distinguished by the network logo on the card (American Express, Discover, Mastercard or Visa). Can be used anywhere the card network is accepted, including online. Can be replaced if lost or stolen per the card network’s zero liability policies. Funds are immediately available to make purchases at stores or online, and in many cases funds can be withdrawn from an ATM. Can be used by anyone, regardless of credit history, and a bank account is not required. Designed to be used at certain locations such as a specific store or group of stores, or a single publictransportation system. Cards do not carry a network logo (American Express, Discover, Mastercard or Visa). Can be single use or reloadable Loaded with funds for a one-time use (usually a gift card or a rebate or promotional card). Once the funds are spent the card is discarded. No consumer information is collected to purchase or use. RELOADABLE CARDS PAYROLL CARDS GENERAL PURPOSE RELOADABLE CARDS INCENTIVES/COMMISSIONS CARDS GIFT CARDS TRAVEL CARDS INSURANCE CARDS Financial tool that can be loaded with funds on a recurring basis. Cards require registration of personal information to adhere to banking regulations. In 2015 the average load per card was CAD$ 2,016. LOADED INTO OPEN-LOOP PREPAID CARDS IN 2015 RETAIL GIFT CARDS PROMOTIONAL CARDS TRANSIT CARDS
