NEW YORK—As prepaid cards are being scooped up as gifts for the holidays, who’s buying them the most?
A new from Mercator Advisory Group study has found its 18-24 year-olds who are the most likely (76%) to purchase prepaid cards, followed closely by 24-44 year-olds (73%).
In contrast, only 45% of 65+ year-olds purchased a prepaid card in the last year.
Only 3% of 65+ year-olds had prepaid cards delivered to a digital wallet, compared to 35% of 18-24 year-olds. Households earning less than $100,000 are most likely to have purchased Retailer Gift Cards, at 56%, the Payments Journal stated in its analysis.