Canonical URL: https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/ --- description: CPI prepaid results explained: accounting-adjusted revenue, packaging margins and the commercial logic behind its Karta security investment. title: CPI’s 2025 prepaid decline puts accounting and packaging in focus image: https://giftcard.news/images/social/v1/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-8a6a1cdb6ec9cbe5701bc758ca2d87e6.jpg --- 1. [Home](https://giftcard.news/) 2. [Payments & Technology](https://giftcard.news/payments-technology/) # CPI’s 2025 prepaid decline puts accounting and packaging in focus CPI's prepaid results reveal how accounting, product mix and security investment affect a card manufacturer differently from the wider gift card market. By [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) March 5, 2026 4 min read [ Google News ](https://google.com/preferences/source?q=giftcard.news&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fpayments-technology%2Fcpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=CPI%E2%80%99s+2025+prepaid+decline+puts+accounting+and+packaging+in+focus&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fpayments-technology%2Fcpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "LinkedIn") [ ](https://wa.me/?text=CPI%E2%80%99s+2025+prepaid+decline+puts+accounting+and+packaging+in+focus+https%3A%2F%2Fgiftcard.news%2Fpayments-technology%2Fcpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "WhatsApp") ![Three CPI prepaid and gift card packages on a blue background](https://giftcard.news/images/variants/v1/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card-w1024.webp) CPI product illustration of prepaid packaging. It does not identify the SafeToBuy pilot retailer. Photo: CPI Card Group [CPI Card Group](https://giftcard.news/company/cpi-card-group/)'s March 5, 2026 results showed annual prepaid revenue falling 12.1%, or 3.3% after adjusting both years for an accounting change. [\[S01\]](#article-source-1) The numbers point to a more specific story than declining enthusiasm for gift cards. CPI earns money from producing and supporting payment products. Its sales are affected by when orders are recognised, the packaging customers choose and how much work accompanies each card. ## A manufacturer and service provider, not the gift balance The annual report describes the Prepaid Debit business as supplying secure packaging, cards and integrated services to U.S. prepaid programme managers. Those revenues measure what CPI sells to business customers, not the value consumers load or spend. The group also produces debit and credit cards and provides personalisation and related payment services. [\[S02\]](#article-source-2) This position in the supply chain changes the question investors and programme managers should ask. A manufacturer can experience weaker sales because customers buy a less valuable product mix, even while a retailer continues selling gift cards. Conversely, higher production revenue need not imply an equivalent rise in consumer spending. The data behind the story ### CPI annual reported Prepaid Debit revenue Supplier segment revenue, before the accounting adjustment shown below. Reported segment revenue USD million Tap or hover for details. All values are also available in the data table. Source CPI 2025 Form 10-K, Prepaid Debit segment Supplier revenue includes cards, secure packaging and services. The accounting change affects comparability; this is not consumer gift-card demand. Show data tableHide data table Scroll left or right to see all columns __CPI annual reported Prepaid Debit revenue (USD million)__ | Category | Reported segment revenue | | -------- | ------------------------ | | 2024 | 106.541 USD million | | 2025 | 93.625 USD million | ## Separating timing from trading The data behind the story ### Two views of annual prepaid revenue Years ended December 31\. Company figures in USD million; accounting-adjusted values are non-GAAP. ReportedAccounting-adjusted USD million Tap or hover for details. Select a series above to show or hide it. Source [\[S01\]](#article-source-1) CPI, Exhibit F Each year has two presentations of the same business, not two revenue streams. Adjustment applies a consistent point-in-time recognition basis. Show data tableHide data table Scroll left or right to see all columns __Two views of annual prepaid revenue (USD million)__ | Category | Reported | Accounting-adjusted | | -------- | ------------------- | ------------------- | | 2024 | 106.541 USD million | 102.341 USD million | | 2025 | 93.625 USD million | 98.993 USD million | CPI changed certain work-in-process revenue from recognition during production to recognition at shipment. Exhibit F restates the comparison on a consistent basis. [\[S01\]](#article-source-1) That adjustment addresses timing. It does not erase changes in product mix, pricing or customer orders, and it should not be treated as a second revenue stream. The narrower adjusted decline is useful precisely because it asks a different question from the reported accounts. Show data tableHide data table Scroll left or right to see all columns __Separating timing from trading__ | Prepaid Debit metric | 2024 | 2025 | | -------------------------------- | ------- | ------ | | Annual revenue, USD million | 106.541 | 93.625 | | Annual gross profit, USD million | 43.124 | 31.942 | | Annual gross margin | 40.5% | 34.1% | Source: CPI's annual report. Reported annual figures, not the adjusted series above. [\[S02\]](#article-source-2) The report connects prepaid weakness with the accounting change and stronger higher-value packaging sales in the prior year. Gross margin fell from 40.5% to 34.1%. Elsewhere it notes that more complex contactless cards generally sell at higher prices than simpler formats, illustrating why mix matters in this manufacturing business. [\[S02\]](#article-source-2) CPI's packaging range includes sealed foldover formats, multipacks and blister packs. Security construction is therefore part of what a programme manager buys, rather than an incidental wrapper around the loaded funds. [\[S04\]](#article-source-4) ## Why security technology is a commercial response CPI acquired 20% of [Karta](https://giftcard.news/company/karta/) in October 2025 for USD10 million in total consideration, comprising USD2.5 million paid in cash at closing and USD7.5 million of contingent rebates tied to future sales. The March results described continuing retailer pilots. [\[S01\]](#article-source-1)[\[S02\]](#article-source-2) The data behind the story ### CPI consideration for its Karta minority stake Composition of the historical USD10 million transaction. Investment consideration USD million Tap or hover for details. All values are also available in the data table. Source CPI 2025 Form 10-K, equity-method investment The USD7.5 million component is contingent future-sales rebates. This is a 20% equity interest, not a pilot budget, company valuation or evidence of fraud prevention. Show data tableHide data table Scroll left or right to see all columns __CPI consideration for its Karta minority stake (USD million)__ | Category | Investment consideration | | --------------------------------- | ------------------------ | | Cash paid at closing | 2.5 USD million | | Contingent consideration recorded | 7.5 USD million | The historical partnership announcement identifies Karta as an Australian prepaid programme manager and payments technology business. CPI became its exclusive U.S. supplier for contactless gift cards using the SafeToBuy applet. The design removes printed payment details from packaging and keeps credentials inaccessible before activation. Its October announcement targeted an early-2026 U.S. launch and described a retailer pilot. [\[S03\]](#article-source-3) For CPI, the strategic opportunity is to sell a more valuable combination of production, personalisation and security. For Karta, a U.S. manufacturing relationship offers a route to customers that would be harder to reach through software alone. The minority investment gives CPI an economic interest beyond an individual production order. That rationale should not be confused with achieved returns. Neither the pilot description nor the investment establishes nationwide adoption, the amount of fraud prevented or a profitable new revenue stream. Programme managers would ultimately have to pay enough for the added protection to cover its implementation and production costs. ## Two different tests of progress The existing prepaid business needs consistent revenue and margin comparisons. The security initiative needs evidence of deployment, customer adoption and commercial contribution. Keeping those tests separate avoids letting an attractive future product obscure a weaker year, while also avoiding the opposite mistake of interpreting an accounting-driven decline as a measure of the entire gift card market. The data behind the story ### CPI reported prepaid gross margin Historical profitability of the existing Prepaid Debit segment. Reported gross margin % Tap or hover for details. All values are also available in the data table. Source CPI 2025 Form 10-K, Prepaid Debit segment Reported margins are affected by the revenue-recognition change and product mix. They do not measure the Karta pilot, adoption or fraud outcomes. Show data tableHide data table Scroll left or right to see all columns __CPI reported prepaid gross margin (%)__ | Category | Reported gross margin | | -------- | --------------------- | | 2024 | 40.5% | | 2025 | 34.1% | Explore the figures: [download the chart data as CSV](https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/data.csv). ## In this article ### Companies * [CPI Card Group](https://giftcard.news/company/cpi-card-group/) * [Karta](https://giftcard.news/company/karta/) ### Sources and documents * [\[S01\] 2025 results announced March 5, 2026](https://www.sec.gov/Archives/edgar/data/1641614/000110465926023809/pmts-20260305xex99d1.htm?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — CPI Card Group * [\[S02\] Annual report and segment economics](https://www.sec.gov/Archives/edgar/data/1641614/000110465926023812/pmts-20251231x10k.htm?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — CPI Card Group * [\[S03\] Historical Karta partnership, October 29, 2025](https://s203.q4cdn.com/923520534/files/doc%5Fnews/CPI-Card-Group-Partners-With-Karta-to-Deliver-Groundbreaking-Digital-Security-for-Prepaid-Cards-2025.pdf?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — CPI Card Group and Karta * [\[S04\] Prepaid packaging range](https://cpicardgroup.com/prepaid-solutions/?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — CPI Card Group Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Fpayments-technology%2Fcpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=CPI%E2%80%99s+2025+prepaid+decline+puts+accounting+and+packaging+in+focus&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Fpayments-technology%2Fcpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "LinkedIn") [ ](https://wa.me/?text=CPI%E2%80%99s+2025+prepaid+decline+puts+accounting+and+packaging+in+focus+https%3A%2F%2Fgiftcard.news%2Fpayments-technology%2Fcpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "WhatsApp") ![Portrait of Daniel Brooks](https://giftcard.news/images/variants/v1/daniel-brooks-editorial-portrait-w320.webp) About the author ## [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) Journalist — Payments, Security & PCI DSS Daniel Brooks covers payment networks, financial technology, payment security, gift card fraud and PCI DSS for Gift Card News. From reading to building ## Your next move in gift cards. Tell us what you’re building. We’ll help you explore suitable providers. [Find a provider ](https://giftcard.news/find-a-provider/) ## Related articles [Payments & Technology](https://giftcard.news/payments-technology/) News ### [PhonePe turns Indus Appstore into a browser-accessible gift-card marketplace](https://giftcard.news/payments-technology/phonepe-appstore-browser-gift-card-marketplace/) [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) October 28, 2026 3 min [Payments & Technology](https://giftcard.news/payments-technology/) News ### [Square builds gift-card scanning into new restaurant kiosk](https://giftcard.news/payments-technology/square-kiosk-built-in-gift-card-scanning-franchise-management/) [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) October 14, 2026 3 min [Payments & Technology](https://giftcard.news/payments-technology/) News ### [Steam Japan wallet report contrasts expiry clause with support response](https://giftcard.news/payments-technology/steam-japan-wallet-expiry-clause-support-clarification-report/) [Maya Bennett](https://giftcard.news/author/maya-bennett/) October 9, 2026 2 min ```json {"@context":"https://schema.org","@graph":[{"@type":"NewsMediaOrganization","@id":"https://giftcard.news/#publisher","name":"Gift Card News","url":"https://giftcard.news/","description":"News and analysis covering gift cards, retail, loyalty, rewards and payments worldwide.","logo":{"@type":"ImageObject","url":"https://giftcard.news/icon-512.png","contentUrl":"https://giftcard.news/icon-512.png","width":512,"height":512,"@id":"https://giftcard.news/#logo"},"publishingPrinciples":"https://giftcard.news/editorial-policy/","correctionsPolicy":"https://giftcard.news/editorial-policy/"},{"@type":"WebSite","@id":"https://giftcard.news/#website","url":"https://giftcard.news/","name":"Gift Card News","description":"News and analysis covering gift cards, retail, loyalty, rewards and payments worldwide.","inLanguage":"en","publisher":{"@id":"https://giftcard.news/#publisher"},"potentialAction":{"@type":"SearchAction","target":"https://giftcard.news/search/?q={search_term_string}","query-input":"required name=search_term_string"}},{"@type":"Person","@id":"https://giftcard.news/author/daniel-brooks/#person","name":"Daniel Brooks","url":"https://giftcard.news/author/daniel-brooks/","description":"Daniel Brooks covers payment networks, financial technology, payment security, gift card fraud and PCI DSS for Gift Card News.","jobTitle":"Journalist — Payments, Security & PCI DSS","image":{"@type":"ImageObject","url":"https://giftcard.news/images/daniel-brooks-editorial-portrait.webp","contentUrl":"https://giftcard.news/images/daniel-brooks-editorial-portrait.webp","width":1254,"height":1254,"caption":"Illustrated portrait representing the Daniel Brooks editorial profile.","@id":"https://giftcard.news/images/daniel-brooks-editorial-portrait.webp#image","encodingFormat":"image/webp","description":"Illustrated portrait for Daniel Brooks, a Gift Card News editorial pen name","creditText":"Gift Card News / AI-generated illustration"}},{"@type":"ImageObject","url":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card.webp","contentUrl":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card.webp","width":1024,"height":1024,"caption":"CPI product illustration of prepaid packaging. It does not identify the SafeToBuy pilot retailer.","@id":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card.webp#image","encodingFormat":"image/webp","description":"Three CPI prepaid and gift card packages on a blue background","creditText":"CPI Card Group","isBasedOn":"https://cpicardgroup.com/prepaid-solutions/"},{"@type":"ImageObject","url":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card-2.webp","contentUrl":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card-2.webp","width":1768,"height":1368,"caption":"CPI product illustration of prepaid packaging. It does not identify the SafeToBuy pilot retailer.","@id":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card-2.webp#image","encodingFormat":"image/webp","description":"Three CPI prepaid and gift card packages on a blue background Complete composition preserved.","creditText":"CPI Card Group","isBasedOn":"https://cpicardgroup.com/prepaid-solutions/"},{"@type":"Dataset","@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#dataset","url":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/","name":"CPI’s 2025 prepaid decline puts accounting and packaging in focus: figure data","description":"Tabular data for the figures accompanying \"CPI’s 2025 prepaid decline puts accounting and packaging in focus\". Sources, units and limitations are documented with each figure.","inLanguage":"en","isPartOf":{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article"},"isAccessibleForFree":false,"hasPart":[{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-1-dataset"},{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-2-dataset"},{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-3-dataset"},{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-4-dataset"}],"distribution":{"@type":"DataDownload","contentUrl":"https://giftcard.news/download.csv?article=%2Fpayments-technology%2Fcpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a%2F","encodingFormat":"text/csv","isAccessibleForFree":false}},{"@type":"Dataset","@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-1-dataset","url":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-1","name":"CPI annual reported Prepaid Debit revenue","description":"Tabular values displayed in the figure \"CPI annual reported Prepaid Debit revenue\" and its accompanying data table.\n\nSupplier segment revenue, before the accounting adjustment shown below.\n\nSupplier revenue includes cards, secure packaging and services. The accounting change affects comparability; this is not consumer gift-card demand.","inLanguage":"en","isPartOf":{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#dataset"},"isAccessibleForFree":true,"variableMeasured":[{"@type":"PropertyValue","name":"Reported segment revenue","unitText":"USD million"}],"isBasedOn":[{"@type":"CreativeWork","name":"CPI 2025 Form 10-K, Prepaid Debit segment","url":"https://www.sec.gov/Archives/edgar/data/1641614/000110465926023812/pmts-20251231x10k.htm"}]},{"@type":"Dataset","@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-2-dataset","url":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-2","name":"Two views of annual prepaid revenue","description":"Tabular values displayed in the figure \"Two views of annual prepaid revenue\" and its accompanying data table.\n\nYears ended December 31. Company figures in USD million; accounting-adjusted values are non-GAAP.\n\nEach year has two presentations of the same business, not two revenue streams. Adjustment applies a consistent point-in-time recognition basis.","inLanguage":"en","isPartOf":{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#dataset"},"isAccessibleForFree":true,"variableMeasured":[{"@type":"PropertyValue","name":"Reported","unitText":"USD million"},{"@type":"PropertyValue","name":"Accounting-adjusted","unitText":"USD million"}],"isBasedOn":[{"@type":"CreativeWork","name":"[S01] CPI, Exhibit F","url":"https://www.sec.gov/Archives/edgar/data/1641614/000110465926023809/pmts-20260305xex99d1.htm"}]},{"@type":"Dataset","@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-3-dataset","url":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-3","name":"CPI consideration for its Karta minority stake","description":"Tabular values displayed in the figure \"CPI consideration for its Karta minority stake\" and its accompanying data table.\n\nComposition of the historical USD10 million transaction.\n\nThe USD7.5 million component is contingent future-sales rebates. This is a 20% equity interest, not a pilot budget, company valuation or evidence of fraud prevention.","inLanguage":"en","isPartOf":{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#dataset"},"isAccessibleForFree":false,"variableMeasured":[{"@type":"PropertyValue","name":"Investment consideration","unitText":"USD million"}],"isBasedOn":[{"@type":"CreativeWork","name":"CPI 2025 Form 10-K, equity-method investment","url":"https://www.sec.gov/Archives/edgar/data/1641614/000110465926023812/pmts-20251231x10k.htm"}]},{"@type":"Dataset","@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-4-dataset","url":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article-figure-4","name":"CPI reported prepaid gross margin","description":"Tabular values displayed in the figure \"CPI reported prepaid gross margin\" and its accompanying data table.\n\nHistorical profitability of the existing Prepaid Debit segment.\n\nReported margins are affected by the revenue-recognition change and product mix. They do not measure the Karta pilot, adoption or fraud outcomes.","inLanguage":"en","isPartOf":{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#dataset"},"isAccessibleForFree":false,"variableMeasured":[{"@type":"PropertyValue","name":"Reported gross margin","unitText":"%"}],"isBasedOn":[{"@type":"CreativeWork","name":"CPI 2025 Form 10-K, Prepaid Debit segment","url":"https://www.sec.gov/Archives/edgar/data/1641614/000110465926023812/pmts-20251231x10k.htm"}]},{"@type":"NewsArticle","@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article","url":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/","headline":"CPI’s 2025 prepaid decline puts accounting and packaging in focus","description":"CPI prepaid results explained: accounting-adjusted revenue, packaging margins and the commercial logic behind its Karta security investment.","datePublished":"2026-03-05T00:00:00.000Z","dateModified":"2026-10-18T11:45:23.915Z","inLanguage":"en","mainEntityOfPage":{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#webpage"},"isPartOf":{"@id":"https://giftcard.news/#website"},"isAccessibleForFree":false,"hasPart":[{"@type":"WebPageElement","isAccessibleForFree":false,"cssSelector":".reader-restricted"},{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#dataset"}],"image":[{"@type":"ImageObject","url":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card.webp","contentUrl":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card.webp","width":1024,"height":1024,"caption":"CPI product illustration of prepaid packaging. It does not identify the SafeToBuy pilot retailer.","@id":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card.webp#image","encodingFormat":"image/webp","description":"Three CPI prepaid and gift card packages on a blue background","creditText":"CPI Card Group","isBasedOn":"https://cpicardgroup.com/prepaid-solutions/"},{"@type":"ImageObject","url":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card-2.webp","contentUrl":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card-2.webp","width":1768,"height":1368,"caption":"CPI product illustration of prepaid packaging. It does not identify the SafeToBuy pilot retailer.","@id":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card-2.webp#image","encodingFormat":"image/webp","description":"Three CPI prepaid and gift card packages on a blue background Complete composition preserved.","creditText":"CPI Card Group","isBasedOn":"https://cpicardgroup.com/prepaid-solutions/"}],"articleSection":"Payments & Technology","keywords":["CPI Card Group","Karta"],"mentions":[{"@type":"Organization","@id":"https://giftcard.news/company/cpi-card-group/#entity","name":"CPI Card Group","url":"https://giftcard.news/company/cpi-card-group/"},{"@type":"Organization","@id":"https://giftcard.news/company/karta/#entity","name":"Karta","url":"https://giftcard.news/company/karta/"}],"wordCount":867,"citation":[{"@type":"CreativeWork","name":"[S01] 2025 results announced March 5, 2026","url":"https://www.sec.gov/Archives/edgar/data/1641614/000110465926023809/pmts-20260305xex99d1.htm","publisher":{"@type":"Organization","name":"CPI Card Group"}},{"@type":"CreativeWork","name":"[S02] Annual report and segment economics","url":"https://www.sec.gov/Archives/edgar/data/1641614/000110465926023812/pmts-20251231x10k.htm","publisher":{"@type":"Organization","name":"CPI Card Group"}},{"@type":"CreativeWork","name":"[S03] Historical Karta partnership, October 29, 2025","url":"https://s203.q4cdn.com/923520534/files/doc_news/CPI-Card-Group-Partners-With-Karta-to-Deliver-Groundbreaking-Digital-Security-for-Prepaid-Cards-2025.pdf","publisher":{"@type":"Organization","name":"CPI Card Group and Karta"}},{"@type":"CreativeWork","name":"[S04] Prepaid packaging range","url":"https://cpicardgroup.com/prepaid-solutions/","publisher":{"@type":"Organization","name":"CPI Card Group"}}],"author":[{"@id":"https://giftcard.news/author/daniel-brooks/#person"}],"publisher":{"@id":"https://giftcard.news/#publisher"}},{"@type":"WebPage","@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#webpage","url":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/","name":"CPI’s 2025 prepaid decline puts accounting and packaging in focus","description":"CPI prepaid results explained: accounting-adjusted revenue, packaging margins and the commercial logic behind its Karta security investment.","datePublished":"2026-03-05T00:00:00.000Z","dateModified":"2026-10-18T11:45:23.915Z","inLanguage":"en","isPartOf":{"@id":"https://giftcard.news/#website"},"mainEntity":{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#article"},"breadcrumb":{"@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#breadcrumbs"},"primaryImageOfPage":{"@id":"https://giftcard.news/images/cpi-s-2025-prepaid-decline-puts-accounting-packaging-focus-three-gift-card.webp#image"}},{"@type":"BreadcrumbList","@id":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/#breadcrumbs","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://giftcard.news/"},{"@type":"ListItem","position":2,"name":"Payments & Technology","item":"https://giftcard.news/payments-technology/"},{"@type":"ListItem","position":3,"name":"CPI’s 2025 prepaid decline puts accounting and packaging in focus","item":"https://giftcard.news/payments-technology/cpi-fy-2025-prepaid-revenue-accounting-packaging-7a026f78432a/"}]}]} ```