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June 11, 2020, 7:21 a.m. EDT

The World's Largest Financial Institutions Compete In Prepaid Card Market, But GD Entertainment and Technology's New 'Dream Card' Offers High End Personalized, Metal Card

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Jun 11, 2020 (Stock Market Press via COMTEX) -- Some of the world's largest financial institutions -- from American Express NYSE: AXP) to Bank of America /zigman2/quotes/200894270/composite BAC +2.51% -- compete in the soaring $5.5 Billion prepaid card market, but GD Entertainment and Technology /zigman2/quotes/201364908/composite GDET -20.00% offers a special prepaid 'Dream Card' that offers to consumers a high status metal card that can be personalized by the owner. It is to be marketed as a metal luxury card when it is re-launched later this month, the company said.

stockmarketpress.com features specialized coverage of the prepaid card market such as GD Entertainment and Technology (OTC: GDET), American Express /zigman2/quotes/203805826/composite AXP +3.38% , JP Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM +2.20% , PayPal Holdings, Inc. /zigman2/quotes/208054269/composite PYPL -2.68% , H&R Block, Inc. /zigman2/quotes/207406664/composite HRB +3.72% and Green Dot Corporation (NYSE: GDOT), Wells Fargo /zigman2/quotes/203790192/composite WFC +3.42% , Walmart /zigman2/quotes/207374728/composite WMT +0.48% , Bank of America /zigman2/quotes/200894270/composite BAC +2.51% , AT&T /zigman2/quotes/203165245/composite T +0.60% , Discover Financial Services /zigman2/quotes/208747867/composite DFS +2.55% and Apple Inc. (NASDAQ: AAPL).

The World's Largest Financial Institutions Compete In Prepaid Card Market, But GD Entertainment and Technology's /zigman2/quotes/201364908/composite GDET -20.00% New 'Dream Card' Offers High End Personalized, Metal Card

GD Entertainment and Technology /zigman2/quotes/201364908/composite GDET -20.00% describes the benefits and use of the 'Dream Card' -- scheduled for relaunch by the end of this month -- at its website Dream Card enterprise and offers a YouTube video there to explain how it works. Top financial firms and banks compete in the prepaid card market seen as reaching $5.5 billion by 2027, according to Allied Market Research . But the prepaid card from GD Entertainment and Technology /zigman2/quotes/201364908/composite GDET -20.00% offers something to this target market others do not: the status of owning an all-metal card which can be personalized with logos, images of family members or even favorite celebrities. The World's Largest Financial Institutions Compete In Prepaid Card Market, But GD Entertainment and Technology's /zigman2/quotes/201364908/composite GDET -20.00% New 'Dream Card' Offers High End Personalized, Metal Card.

Appealing To The Unbanked Or Under-Banked

The site Dream Card enterprise shows the card in a luxury setting: in front of luxury cars or luxury brands. It invites consumers to mail in their ordinary plastic cards and receive the metal 'Dream Card' in return. It offers dignity to a prepaid card owner who may proudly use it and probably receive compliments on its unique metal weight and personalized appearance. The World's Largest Financial Institutions Compete In Prepaid Card Market, But GD Entertainment and Technology's /zigman2/quotes/201364908/composite GDET -20.00% New 'Dream Card' Offers High End Personalized, Metal Card.

Prepaid cards among unbanked or under-banked consumers are soaring in popularity. According to the Federal Deposit Insurance Corporation (FDIC), some 8.4 million Americans remain unbanked or under-banked -- this is an opportunity market that enjoys the safety of the prepaid card market. A personalized, metallic 'Dream Card' represents a unique product for this market. It represents an essential banking substitute to cater to the financial transaction needs of this audience, the Allied Market Research report said.

GD Entertainment and Technology /zigman2/quotes/201364908/composite GDET -20.00% Sets Relaunch Of 'Dream Card' With All-Metal, Personalized Advantage In A $5.5 Billion Prepaid Card Market

According to Allied Market Research , this will be a $5.5 billion market by 2027, reflecting CAGR growth of 14.9% from 2020-2027. Multipurpose prepaid cards are gaining traction with consumers, The World's Largest Financial Institutions Compete In Prepaid Card Market, But GD Entertainment and Technology's /zigman2/quotes/201364908/composite GDET -20.00% New 'Dream Card' Offers High End Personalized, Metal Card.

North American Market Generates Highest Revenue In 2019 In Prepaid Card Market.

According to Allied Market Research, the North American Market is the largest volume region in this market. Active in this prepaid card market are financial giants such as American Express /zigman2/quotes/203805826/composite AXP +3.38% , JP Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM +2.20% , PayPal Holdings, Inc. /zigman2/quotes/208054269/composite PYPL -2.68% , H&R Block, Inc. /zigman2/quotes/207406664/composite HRB +3.72% and Green Dot Corporation (NYSE: GDOT). GD Entertainment and Technology's /zigman2/quotes/201364908/composite GDET -20.00% relaunch of its 'Dream Card' entrant into this financially-expanding segment offers a unique and personalized alternative.

'Dream Card' Relaunch Targeted For End Of This Month

Anil Idnani, CEO of GDET, said, "We continue to strategize with streamlining and efficiency as our top priority -- seeking to maximize growth in only those areas that represent a truly powerful ROI opportunity. Dream Card fits that model. That said, the division needed an overhaul since we acquired the business. We are extremely excited about the changes being put in place, and we are targeting full revamped launch by the end of this month."

GDET sees its redesigned 'Dream Card' entry making the prepaid gift card market a 'user friendly' experience, offering the appearance of a high status card and allowing card owners to personalize their individual cards. This represents a new experience in the prepaid gift card marketplace -- enabling consumers to make these cards their own with specialized logos, images of special people, pets or celebrities in their ives.

Source: Stock Market Press

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$ 0.0004
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$ 0.0004
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