IPC 2021 Takeaways: Traditional Payments vs Fintech? Not Quite

This year’s all-virtual Innovative Payments Conference discussed the evolution of payments, better ways to use and handle customer data, and what the future of prepaid might hold

Evolution of Payments

Consumers Looking for Flexible Financial Products

A pie chart shows the breakdown between three groups: Digital-only bank account holders, traditional brick-and-mortar bank accounts, and hybrids.
MetaBank reported that while the traditionalist segment is still the largest, 38% of consumers own both a traditional and digital-only banking account. (Credit MetaBank)
Statistics show the percentage of U.S. bank holders with multiple accounts, as well as their top reasons for holding multiple accounts.
Metabank research showed that a significant percentage of consumers use multiple accounts. Their top three reasons for doing so were budgeting, security, and linking to P2P apps. (Credit MetaBank)

Modular Prepaid Fits All Kinds of Use Cases

Prepaid’s Quiet But Enduring Appeal

Navigating Regulatory Hurdles

Better Ways to Handle (And Use) Data

A graphic shows how bad actors would fraudulently apply for Pandemic Unemployment Assistance (PUA), then move funds off of prepaid debit cards provided by the government.
A traditional Pandemic Unemployment Assistance (PUA) scheme involved a fraudulent application, and then transference of funds using an ATM. (Credit Orange County District Attorney’s Office)

What’s in Store for the Future of Prepaid?



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