Prepaid cards accounted for 9.9 billion transactions and $270 billion in spending volume in the US in 2015 – an increase of $600 million since 2012 – but according to a study from the US Federal Reserve, prepaid growth is slowing as the products become more mainstream, reports Paybefore.
Based on survey data from financial institutions, card networks and payment processors, the Federal Reserve Payments Study 2016 found that card payments – including credit, debit and prepaid – accounted for more than two-thirds of all non-cash payments in the US from 2012 to 2015.
