Industry Updates

Every time money moves - whether it’s loading a payroll card, topping up a digital wallet, or sending an instant payout - there’s a quiet workhorse operating in the background. It’s called the Demand Deposit Account (DDA). 

As recently as a few years ago, prepaid was still thought of as a convenient alternative to cash or checks. It was useful, but it was more of a niche offering. Today, it’s a core part of the money-movement infrastructure.

Many enterprises still think about payment tools just as pipes for moving money. ‍You load funds, issue physical or virtual cards, payments happen, and reconciliation follows. But that’s an increasingly inaccurate view. Today, payments are also governance engines with the ability to enforce rules, automate oversight, and embed accountability into every transaction.‍

For years, the term “prepaid” has been synonymous with plastic gift cards and stopgap banking solutions - products that were useful in specific situations, but limited. Beneath the surface, however, prepaid technology has quietly grown into one of the most powerful layers of modern financial infrastructure. 

Canadian families have long lacked a modern, safe way to give kids financial independence while building healthy money habits together. In the U.S., youth money apps have flourished, but Canada’s stricter banking and compliance environment has made programs slow and complex to launch.

Gift cards have long played a central role in shopping center strategies. They attract new customers, encourage cross-store spending, and provide a simple solution for gift-givers.

A leading national tax preparation services company wanted to improve how it delivered refunds to clients.

Credit unions play a unique role in the financial system. They’re community-rooted, member-owned, and built to serve, not scale. But that same strength can also create vulnerabilities.

As a business that relies on prepaid, debit or spend cards - whether for customer payouts, gig economy payroll, or incentives - you don’t want to worry about what’s happening behind the scenes. You just want your card program to work reliably and securely.

Transformation in the payment industry is being fueled by two powerful forces: rapid technological advances and shifting consumer behavior. For businesses, keeping up with payment trends is an urgent priority in a competitive market. Learn more about payment trends in 2025.