An estimated 110 percent increase in the prepaid- or stored-value-card industry is expected to take Europe by storm over the next four years. While non-banks have had some success marketing prepaid products, financial institutions have struggled to find the right combination of prepaid products and services.
Europeans are expected to spend €75 billion (U.S. $95 billion) on prepaid cards by 2010. Travel cards, Internet payment cards and rewards programs will account for 40 percent of the market growth. In order for European financial institutions to succeed, they must come up with innovative ways to mold their prepaid models. Simply duplicating what U.S. FIs have done is not the answer.
This excerpt from a 240-page Payment Systems Europe Consulting report includes a summary of the European prepaid market as well as information about the impact the prepaid market is having on individual countries throughout the region.
Click here to download this research overview from PSE Consulting.
Editor's note: This white paper was provided by PSE Consulting. Statements made in this research paper reflect the views and/or opinions of the author(s) only.
