The 2-year-old Canadian Prepaid Providers Organization has welcomed three new members and added an annual CPPO Prepaid Symposium to further its mission of supporting the fast-growing prepaid card industry in Canada.
Desjardins, Payment Source and UnionPay International have joined CPPO’s founding members that include major financial institutions, card networks and other industry players.
Prepaid cards are the fastest-growing payment card category in Canada, according to the association. In 2015, loads onto network branded prepaid cards totaled $3.1 billion.
The inaugural CPPO Prepaid Symposium was held in May in conjunction with the Payments Canada Summit. More than 100 attendees from multiple countries met to discuss prepaid innovation in Canada, lessons learned from established markets and programs, regulatory developments and consumer financial health.