Canada is one of the fastest growing prepaid markets and has emerged as a lead market for global fintech expansion in recent years. Peoples Trust specialises in helping card program managers establish, launch and grow card programs across Canada through BIN sponsorship, regulatory expertise and market guidance.
In contrast with other markets, prepaid in Canada has broad adoption among both banked and unbanked consumers and businesses, said Peter Read , president of Peoples Card Services, a subsidiary of Peoples Trust.
Peoples Trust has issued more than 30 million prepaid cards across 750+ programs in Canada , totaling more than CAD 1.2 billion in card loads in 2015. Peoples Trust is seeing an uptick in new market entrants, in particular from the US as the prepaid market for both consumers and businesses expands.
These companies have a unique need for Canadian issuing expertise to navigate the varying regional and national regulations and protocols. In more than a decade of serving the prepaid market, Peoples has built an issuing infrastructure to reach and properly support national payments programs of this type.
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