Research and Markets: United States Consumers and Prepaid Spending Report 2014: Rising Use, Especially by Mobile

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/6v3p3h/consumers_and) has announced the addition of the "Consumers and Prepaid: Rising Use, Especially by Mobile" report to their offering.

New Survey Finds Prepaid Buyers Increasingly Younger And Mobile-Enabled

56% of US adults bought prepaid cards in year preceding the 2014 survey, up from 53% in 2013 and 47% in 2012

Prepaid buyers are increasingly younger: 2 in 3 young adults (aged 18-34) surveyed bought prepaid cards, up from 3 in 5 surveyed in 2013. And they are increasingly mobile enabled, as nearly 2 in 3 smartphone owners, 3 in 4 smartphone and tablet owners, and 9 in 10 adults who have paid for goods and services by mobile phone have bought prepaid cards within the previous year. Today, prepaid cards are often a primary payment vehicle for mobile payments.

The report examines a demographic shift of prepaid card and virtual card buyers and the changing landscape of prepaid card use and recalled loads, highlighting seven categories of prepaid card types. Survey findings cover usage, frequency, distribution channels, the relative importance of feature sets and fees, and brand awareness and current or previous use of 10 major brands of general purpose reloadable (GPR) cards, as well as awareness that these GPR cards can be reloaded or funded through direct deposit.

Prepaid cards are now far more than just gift cards, according to the 2014 survey data, which finds more consumers receiving funds on prepaid cards as incentives, rebates, refunds, and even payroll and money transfers than in previous years. Consumers surveyed indicate they want a prepaid card that offers the conveniences of a bank account, including mobile apps, electronic bill payment, high-quality customer service, alerts, easy access to reloading, and fraud protection as well as ways to gain rewards all with low setup and maintenance fees.

Highlights of this survey and report include:

- Year-over-year trending of prepaid card use by seven categories of prepaid cards (including retailer-specific, general purpose and reloadable cards) and consumers' recollection of cards purchased and monthly load volume

- Shifts in the demographics of prepaid card and virtual card users, the ways consumers are using them, and the factors motivating preferences in distribution channels

- Importance of rewards to drive prepaid card purchases

- Use of online gift card exchanges

- Purchase behavior regarding GPR cards, including length of time card is in use, load frequency, and awareness and use of direct deposit to GPR cards

- Brand awareness, purchase, timing, and current use of 10 GPR card brands

Companies Mentioned

- American Express

- Chase

- Green Dot

- H&R Block

- NetSpend

- PayPower

- Rush

- Walmart

For more information visit http://www.researchandmarkets.com/research/6v3p3h/consumers_and

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Banking and Financial Services, Cards

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Banking and Financial Services, Cards