Friday, October 1, 2010
In addition, Mercator reported it had to reevaluate several open-loop prepaid card segments to reflect actual 2009 statistics that proved higher than Mercator's predictions. Despite federal legislation affecting the prepaid card industry, Mercator now believes that, by 2012, the open-loop prepaid card market as a whole will surpass the closed-loop gift card market in load volume by $60 billion.
"Having now performed six prepaid forecasts, Mercator Advisory Group has found that the diversity of the prepaid market allows it to grow at this blistering pace, as government agencies, corporations, and consumers all find new uses for these cards," said the report's author Tim Sloane, Vice President of Client Services and Director of Mercator's Prepaid Advisory Service.
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