A whole new meaning for ‘impulse buy’
Even with so many new ways to pay, consumers are choosing prepaid mechanisms to power e-commerce payments.
Consumers increasingly depend on one-click shopping – anywhere, anytime and from any device. This behavior, in turn, is driving the emergence of contextual commerce – or the integration of purchases and payments into everyday lives.
Our most recent white paper offers a forward-thinking view of the emerging contextual commerce landscape. It also explores how prepaid debit cards are well-positioned to enable the digital purchases on which contextual commerce depends. Below is an excerpt from that paper:
“The rise in purchases from mobile and other connected devices has naturally resulted in the emergence of more digital payment options. Even with an abundance of choices for how to pay, consumers continue to choose prepaid mechanisms to power e-commerce payments. In 2015, prepaid debit cards accounted for $23.8 billion of the total $341 billion in online sales. By 2018, that figure is estimated to increase to $29 billion.
There is no shortage of reasons contextual consumers are attracted to prepaid cards. According to prepaid industry executive Amir Wain, “In many ways, a prepaid card is to a mobile wallet what a debit card is to a checking account. Think about how much more accessible debit cards made our checking accounts. Prepaid cards do the same for mobile wallets today.”continue reading »