A great post from Prepaid Expo; they outline some interesting financial prepaid stats, usages, mobile stats and more. Interesting information about the decline in use of cash; this is a fact that employers can keep in mind when planning employee incentives and rewards. Prepaid and gift cards aren’t just as good as cash…they ARE cash and loaded on mobile devices, they are the cash of the future!
Here are the tidbits most interesting to us, click below for the whole shebang:
– $82 billion. That’s the amount expected to be loaded onto Prepaid cards in 2012.
– Consumers are using prepaid cards as a way to access wages, direct deposits increased by nearly 70% in 2011.
– Mobile POS payments is expected to grow from $362.6 million in 2011 to $1.4 billion in 2017.
– The use of cash is predicted to decline 3% a year until 2015, through 2015, the use of cash will decline by nearly $200 billion.
– Cash point-of-sale purchases is expected to drop to 23% by 2017.