PayCore has set out how banks can use prepaid card management infrastructure to support gift cards and other payment products. In a February 2023 article by Ayşen Nergiz, the payment technology provider describes product configuration, integration with existing systems and tokenization as capabilities of its Prepaid Card Management solution.

PayCore describes the solution as EMV-compliant and intended to let partners define prepaid products as market requirements change. It recommends a dedicated, flexible card management platform in place of disconnected processes for issuing and acquiring operations.

The use cases listed in the guidance include gift, public transport, ticket, restaurant, corporate, e-commerce and travel cards. PayCore also recommends connecting prepaid offerings with loyalty and reward programs as banks consider their card portfolios.

The article places these services in the context of demand for QR payments, mobile wallets, virtual cards and mobile banking. It says providers should address unclear value propositions, inconsistent point-of-sale experiences and security concerns when planning digital prepaid products.

Alongside the platform's tokenization capability, the article recommends measures such as two-factor authentication and protected storage of card information when banks design their programs. It also links to PayCore's security certifications.

The company also points readers to Ocean 2.0, its wider card management system, and its issuing and acquiring services. Its argument is that card infrastructure needs to accommodate changes in customer demand and payment acceptance, alongside the initial product launch.

For market context, the February 2023 article cites a forecast of a $2.7 trillion global prepaid card market by 2026 and states that 13% of the US population used prepaid cards for everyday needs. These are the figures cited at the time of publication, not evidence that the forecast was subsequently achieved or a current adoption estimate.