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Prepaid Card Market by Card Type (Open Loop Prepaid Card and Closed Loop Prepaid Card), Usage (General-purpose Reloadable Card, Gift Card, Government Benefit/Disbursement Card, Payroll Card, and Others), and End User (Retail, Corporate Institutions, Government, and Financial Institutions): Global Opportunity Analysis and Industry Forecast, 2020–2027
| A01622 | Pages: 245 | May 2020 | 26827 Views | | |
| Author(s) : Pramod Borasi, Monica Chabbra | Tables: 105 | Charts: 31 | Formats*: | |
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Request Now !Prepaid Card Market Outlook - 2027
The global prepaid card market size was valued at $1,847.96 billion in 2019, and is projected to reach $5,510.87 billion by 2027, growing at a CAGR of 14.9% from 2020 to 2027.
A prepaid card is an alternative banking card that permits consumers to spend the money up to the amount loaded on the card. It is similar to debit card, and can be used for making purchases, and paying online bills, gas bills, shopping. These prepaid cards are kind of general purpose reloadable (GPR) cards, which are issued to the people who do not qualify for a banking account or cannot afford the fees linked with maintaining the bank account. These cards work with both closed and open loop networks.
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Rise in demand for cash alternatives and availability of affordable and energy-efficient prepaid cards drive the growth of the market. In addition, developments in the e-commerce industry and increase in adoption of prepaid cards because of adding funds through multiple avenues fuel the growth of the prepaid card market. However, lack of standardization and prone to fraudulent attacks hampers the growth of the market. Furthermore, increase in unbanked and underbanked population is expected to provide lucrative opportunities for the prepaid market growth.
The closed loop prepaid card segment is expected to garner a significant share during the forecast period. Increase in adoption of closed loop prepaid card by travelers, retailers, and students drives the growth of the prepaid card market in this segment. However, the open loop prepaid card segment is expected to grow at the highest rate during the forecast period, owing to numerous features such as low risk of frauds, easy accessibility, and low interest charges. This, drives the growth of the prepaid card market in this segment.
Prepaid Card Market
By Type
Open loop card would exhibit the highest CAGR of 16.2% during 2020-2027.
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Region wise, the prepaid card market was dominated by North America in 2019 and is expected to retain its position during the forecast period. The major factors that drive the growth of the market in this region include rise in adoption of prepaid card by different workers and favorable government regulations for prepaid cards. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period due to increase in number of applications in retail establishments, governments, and corporate institutions and growing government support in the developing countries of Asia-Pacific.
Prepaid Card Market
By Industry Vertical
Corporate is projected as one of the most lucrative segments.
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The report focuses on the growth prospects, restraints, and prepaid card market trends. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the prepaid card market.
Prepaid Card Market
By Usage
Incentive/Payroll is projected as one of the most lucrative segments.
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Segment Overview
The prepaid card market is categorized on the basis of card type, usage, end user, and region. By card type, the market is bifurcated into open loop prepaid card and closed loop prepaid card. By usage, it is classified into general-purpose reloadable card, gift card, government benefit/disbursement card, payroll card, and others. By end user, the market analyzed across retail establishments, corporate institutions, government, and financial institutions & others. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Prepaid Card Market
By Region
Asia-Pacific would exhibit the highest CAGR of 16.4% during 2020-2027.
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Top Impacting Factors
Rise in demand for cash alternatives
Based on a recent study, advisers are witnessing surge in demand for cashless transactions from clients, who want low-risk investments that can generate higher returns than traditional cash-based accounts. Prepaid card minimizes the risk of overspending compared to credit cards as there is a limit imposed for spending. These prepaid cards can load easily and via multiple platforms in various ways, that include bank account transfers, direct deposit or cash both-online and in person. Furthermore, corporates are also on a constant lookout for cash alternatives to manage their daily transactions. According to the FDIC, i.e. Federal Deposit Insurance Corporation, in 2018, 6.5% of the U.S. household were unbanked, which indicates that 8.4 million US households are still left in the economy to operate without bank account. Prepaid cards offer unbanked consumers to access conveniently essential payment services. For instance, VA Tech Ventures introduced “Happay,” the new corporate expense card that can be remotely controlled by the administrators from a mobile or web interface. This card also enables the company to track down expenses, fund card, set limits, and approve expenses in real time. All these factors are expected to boost the market growth.
Increase in number of internet users and developments in the E-commerce industry
Rapid expansion of the e-commerce industry has compelled customers to use plastic money instead of keeping hard cash in their wallets. As stated by several banks, the new-age segment has been one of the key factors pushing sale transaction through credit, debit, and prepaid cards globally. For instance, Dubai payments industry is going through a major change, as large number of consumers are discontinuing use of their credit cards and opting for a new payment tool “prepaid debit card” for online shopping, traveling, or gifting. These cards serve as a viable substitute for credit and debit cards, and are easily accessible for non-banked consumers. Thus, this is expected to increase the dominance of prepaid cards in the electronic payment industry and acts as a lucrative prepaid card market opportunity.
Competitive Analysis
The key players profiled in the prepaid card market analysis include American Express Company, BBVA Compass Bancshares, Inc., Green Dot Corporation, H&R Block Inc., JPMorgan Chase & Co., Kaiku Finance LLC., Mango Financial, Inc., NetSpend Holdings, Inc., PayPal Holdings, Inc. and UniRush, LLC. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.
Key Benefits for Stakeholders
The study provides an in-depth analysis of the global prepaid card market forecast along with the current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the global prepaid card market size is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the prepaid card industry.
The quantitative analysis of the prepaid card market share for the period 2019–2027 is provided to determine the prepaid card market potential.
Key Market Segments
By Card Type
- Open Loop Prepaid Card
- Closed Loop Prepaid Card
By Usage
- General-purpose Reloadable Card
- Gift Card
- Government Benefit/Disbursement card
- Payroll Card
- Others
By End User
- Retail Establishments
- Corporate Institutions
- Government
- Financial Institutions & Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Netherlands
- Spain
- Italy
- Nordic Countries
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- American Express Company
- BBVA Compass Bancshares, Inc.
- Green Dot Corporation
- H&R Block Inc.
- JPMorgan Chase & Co.
- Kaiku Finance LLC.
- Mango Financial, Inc.
- NetSpend Holdings, Inc.
- PayPal Holdings, Inc.
- UniRush, LLC
CHAPTER 1: INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY MARKET SEGMENTS
1.3. KEY BENEFITS
1.4. RESEARCH METHODOLOGY
1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3: MARKET LANDSCAPE
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3. PORTER'S FIVE FORCES ANALYSIS
3.3.1.Bargaining power of suppliers
3.3.2.Threat of new entrants
3.3.3.Threat of substitutes
3.3.4.Competitive rivalry
3.3.5.Bargaining power among buyers
3.4. MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2019
3.5. MARKET DYNAMICS
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
CHAPTER 4: PREPAID CARD MARKET BY CARD TYPE
4.1. OVERVIEW
4.2.CLOSED LOOP PREPAID CARD
4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market share analysis, by country
4.3.OPEN LOOP PREPAID CARD
4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market share analysis, by country
CHAPTER 5: PREPAID CARD MARKET BY USAGE
5.1. OVERVIEW
5.2.GENERAL-PURPOSE RELOADABLE CARD
5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market share analysis, by country
5.3. GIFT CARD
5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market share analysis, by country
5.4.GOVERNMENT BENEFITS/DISBURSEMENT CARD
5.4.1.Key market trends, growth factors and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market share analysis, by country
5.5. INCENTIVE/PAYROLL CARD
5.5.1.Key market trends, growth factors and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market share analysis, by country
5.6.OTHERS
5.6.1.Key market trends, growth factors and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market share analysis, by country
CHAPTER 6: PREPAID CARD MARKET BY INDUSTRY VERTICAL
6.1. OVERVIEW
6.2.RETAIL ESTABLISHMENTS
6.2.1.Key market trends, growth factors andopportunities
6.2.2.Market size and forecast, by region
6.2.3.Market share analysis, by country
6.3.CORPORATE INSTITUTIONS
6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market share analysis, by country
6.4.GOVERNMENT
6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market share analysis, by country
6.5.FINANCIAL INSTITUTIONS & OTHERS
6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast, by region
6.5.3.Market share analysis, by country
CHAPTER 7: PREPAID CARD MARKET BY REGION
7.1. OVERVIEW
7.2. NORTH AMERICA
7.2.1.Key market trends and opportunities
7.2.2.Market size and forecast, by card type
7.2.3.Market size and forecast, by usage
7.2.4.Market size and forecast, by industry vertical
7.2.5.Market size and forecast, by Country
7.2.6.U.S.
7.2.6.1.Market size and forecast, by card type
7.2.6.2.Market size and forecast, by usage
7.2.6.3.Market size and forecast, by industry vertical
7.2.7. Canada
7.2.7.1.Market size and forecast, by card type
7.2.7.2.Market size and forecast, by usage
7.2.7.3.Market size and forecast, by industry vertical
7.3. EUROPE
7.3.1.Key market trends and opportunities
7.3.2.Market size and forecast, by card type
7.3.3.Market size and forecast, by usage
7.3.4.Market size and forecast, by industry vertical
7.3.5.Market size and forecast, by Country
7.3.6.UK
7.3.6.1.Market size and forecast, by card type
7.3.6.2.Market size and forecast, by usage
7.3.6.3.Market size and forecast, by industry vertical
7.3.7. Germany
7.3.7.1.Market size and forecast, by card type
7.3.7.2.Market size and forecast, by usage
7.3.7.3.Market size and forecast, by industry vertical
7.3.8. France
7.3.8.1.Market size and forecast, by card type
7.3.8.2.Market size and forecast, by usage
7.3.8.3.Market size and forecast, by industry vertical
7.3.9. Russia
7.3.9.1.Market size and forecast, by card type
7.3.9.2.Market size and forecast, by usage
7.3.9.3.Market size and forecast, by industry vertical
7.3.10. Rest of Europe
7.3.10.1.Market size and forecast, by card type
7.3.10.2.Market size and forecast, by usage
7.3.10.3.Market size and forecast, by industry vertical
7.4. ASIA-PACIFIC
7.4.1.Key market trends and opportunities
7.4.2.Market size and forecast, by card type
7.4.3.Market size and forecast, by usage
7.4.4.Market size and forecast, by industry vertical
7.4.5.Market size and forecast, by Country
7.4.6.India
7.4.6.1.Market size and forecast, by card type
7.4.6.2.Market size and forecast, by usage
7.4.6.3.Market size and forecast, by industry vertical
7.4.7. China
7.4.7.1.Market size and forecast, by card type
7.4.7.2.Market size and forecast, by usage
7.4.7.3.Market size and forecast, by industry vertical
7.4.8. Japan
7.4.8.1.Market size and forecast, by card type
7.4.8.2.Market size and forecast, by usage
7.4.8.3.Market size and forecast, by industry vertical
7.4.9. South Korea
7.4.9.1.Market size and forecast, by card type
7.4.9.2.Market size and forecast, by usage
7.4.9.3.Market size and forecast, by industry vertical
7.4.10. Australia
7.4.10.1.Market size and forecast, by card type
7.4.10.2.Market size and forecast, by usage
7.4.10.3.Market size and forecast, by industry vertical
7.4.11. Rest of Asia-Pacific
7.4.11.1.Market size and forecast, by card type
7.4.11.2.Market size and forecast, by usage
7.4.11.3.Market size and forecast, by industry vertical
7.5. LAMEA
7.5.1.Key market trends and opportunities
7.5.2.Market size and forecast, by card type
7.5.3.Market size and forecast, by usage
7.5.4.Market size and forecast, by industry vertical
7.5.5.Market size and forecast, by Country
7.5.6.Latin America
7.5.6.1.Market size and forecast, by card type
7.5.6.2.Market size and forecast, by usage
7.5.6.3.Market size and forecast, by industry vertical
7.5.7. Middle East
7.5.7.1.Market size and forecast, by card type
7.5.7.2.Market size and forecast, by usage
7.5.7.3.Market size and forecast, by industry vertical
7.5.8. Africa
7.5.8.1.Market size and forecast, by card type
7.5.8.2.Market size and forecast, by usage
7.5.8.3.Market size and forecast, by industry vertical
CHAPTER 8: COMPANY PROFILES
8.1.AMERICAN EXPRESS COMPANY
8.1.1. Company overview
8.1.2. Key Executives
8.1.3. Company snapshot
8.1.4. Operating business segments
8.1.5. Product portfolio
8.1.6. Business performance
8.1.7. Key strategic moves and developments
8.2.BBVA GROUP
8.2.1. Company overview
8.2.2. Key Executives
8.2.3. Company snapshot
8.2.4. Operating business segments
8.2.5. Product portfolio
8.2.6. Business performance
8.2.7. Key strategic moves and developments
8.3.GREEN DOT CORPORATION
8.3.1. Company overview
8.3.2. Key Executives
8.3.3. Company snapshot
8.3.4. Operating business segments
8.3.5. Product portfolio
8.3.6. Business performance
8.3.7. Key strategic moves and developments
8.4.HRB DIGITAL LLC.
8.4.1. Company overview
8.4.2. Key Executives
8.4.3. Company snapshot
8.4.4. Operating business segments
8.4.5. Product portfolio
8.4.6. Business performance
8.4.7. Key strategic moves and developments
8.5.JPMORGAN CHASE & CO.
8.5.1. Company overview
8.5.2. Key Executives
8.5.3. Company snapshot
8.5.4. Operating business segments
8.5.5. Product portfolio
8.5.6. Business performance
8.5.7. Key strategic moves and developments
8.6.KAIKU FINANCE, LLC.
8.6.1. Company overview
8.6.2. Key Executives
8.6.3. Company snapshot
8.6.4. Operating business segments
8.6.5. Product portfolio
8.6.6. Business performance
8.6.7. Key strategic moves and developments
8.7.MANGO FINANCIAL, INC.
8.7.1. Company overview
8.7.2. Key Executives
8.7.3. Company snapshot
8.7.4. Operating business segments
8.7.5. Product portfolio
8.7.6. Business performance
8.7.7. Key strategic moves and developments
8.8.PAYPAL HOLDINGS INC.
8.8.1. Company overview
8.8.2. Key Executives
8.8.3. Company snapshot
8.8.4. Operating business segments
8.8.5. Product portfolio
8.8.6. Business performance
8.8.7. Key strategic moves and developments
8.9.TOTAL SYSTEM SERVICES, INC. (NETSPEND)
8.9.1. Company overview
8.9.2. Key Executives
8.9.3. Company snapshot
8.9.4. Operating business segments
8.9.5. Product portfolio
8.9.6. Business performance
8.9.7. Key strategic moves and developments
8.10.UNIRUSH, LLC
8.10.1. Company overview
8.10.2. Key Executives
8.10.3. Company snapshot
8.10.4. Operating business segments
8.10.5. Product portfolio
8.10.6. Business performance
8.10.7. Key strategic moves and developments
LIST OF TABLES
TABLE 1.GLOBAL PREPAID CARD MARKET, BY CARD TYPE 2019-2027 ($MILLION)
TABLE 2.PREPAID CARD MARKET FOR CLOSED LOOP PREPAID CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 3.PREPAID CARD MARKET FOR OPEN LOOP PREPAID CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 4.GLOBAL PREPAID CARD MARKET, BY USAGE 2019-2027 ($MILLION)
TABLE 5.PREPAID CARD MARKET FOR GENERAL-PURPOSE RELOADABLE CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 6.PREPAID CARD MARKET FOR GIFT CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 7.PREPAID CARD MARKET FOR GOVERNMENT BENEFITS/DISBURSEMENT CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 8.PREPAID CARD MARKET FOR INCENTIVE/PAYROLL CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 9.PREPAID CARD MARKET FOR OTHERS, BY REGION, 2019-2027 ($MILLION)
TABLE 10.GLOBAL PREPAID CARD MARKET, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 11.PREPAID CARD MARKET FOR RETAIL ESTABLISHMENTS, BY REGION, 2019-2027 ($MILLION)
TABLE 12.PREPAID CARD MARKET FOR CORPORATE INSTITUTIONS, BY REGION, 2019-2027 ($MILLION)
TABLE 13.PREPAID CARD MARKET FOR GOVERNMENT, BY REGION, 2019-2027 ($MILLION)
TABLE 14.PREPAID CARD MARKET FOR FINANCIAL INSTITUTIONS & OTHERS, BY REGION, 2019-2027 ($MILLION)
TABLE 15.PREPAID CARD MARKET FOR , BY REGION, 2019-2027 ($MILLION)
TABLE 16.NORTH AMERICA PREPAID CARD, BY CARD TYPE 2019-2027 ($MILLION)
TABLE 17.NORTH AMERICA PREPAID CARD, BY USAGE 2019-2027 ($MILLION)
TABLE 18.NORTH AMERICA PREPAID CARD, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 19.NORTH AMERICA PREPAID CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 20.EUROPE PREPAID CARD, BY CARD TYPE 2019-2027 ($MILLION)
TABLE 21.EUROPE PREPAID CARD, BY USAGE 2019-2027 ($MILLION)
TABLE 22.EUROPE PREPAID CARD, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 23.EUROPE PREPAID CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 24.ASIA-PACIFIC PREPAID CARD, BY CARD TYPE 2019-2027 ($MILLION)
TABLE 25.ASIA-PACIFIC PREPAID CARD, BY USAGE 2019-2027 ($MILLION)
TABLE 26.ASIA-PACIFIC PREPAID CARD, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 27.ASIA-PACIFIC PREPAID CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 28.LAMEA PREPAID CARD, BY CARD TYPE 2019-2027 ($MILLION)
TABLE 29.LAMEA PREPAID CARD, BY USAGE 2019-2027 ($MILLION)
TABLE 30.LAMEA PREPAID CARD, BY INDUSTRY VERTICAL 2019-2027 ($MILLION)
TABLE 31.LAMEA PREPAID CARD, BY REGION, 2019-2027 ($MILLION)
TABLE 32.AMERICAN EXPRESS COMPANY: COMPANY SNAPSHOT
TABLE 33.AMERICAN EXPRESS COMPANY: OPERATING SEGMENTS
TABLE 34.BBVA GROUP: COMPANY SNAPSHOT
TABLE 35.BBVA GROUP: OPERATING SEGMENTS
TABLE 36.GREEN DOT CORPORATION: COMPANY SNAPSHOT
TABLE 37.GREEN DOT CORPORATION: OPERATING SEGMENTS
TABLE 38.HRB DIGITAL LLC. : COMPANY SNAPSHOT
TABLE 39.HRB DIGITAL LLC. : OPERATING SEGMENTS
TABLE 40.JPMORGAN CHASE & CO.: COMPANY SNAPSHOT
TABLE 41.JPMORGAN CHASE & CO.: OPERATING SEGMENTS
TABLE 42.KAIKU FINANCE, LLC. : COMPANY SNAPSHOT
TABLE 43.KAIKU FINANCE, LLC. : OPERATING SEGMENTS
TABLE 44.MANGO FINANCIAL, INC.: COMPANY SNAPSHOT
TABLE 45.MANGO FINANCIAL, INC.: OPERATING SEGMENTS
TABLE 46.PAYPAL HOLDINGS INC.: COMPANY SNAPSHOT
TABLE 47.PAYPAL HOLDINGS INC.: OPERATING SEGMENTS
TABLE 48.TOTAL SYSTEM SERVICES, INC. ( NETSPEND ): COMPANY SNAPSHOT
TABLE 49.TOTAL SYSTEM SERVICES, INC. ( NETSPEND ): OPERATING SEGMENTS
TABLE 50.UNIRUSH, LLC: COMPANY SNAPSHOT
TABLE 51.UNIRUSH, LLC: OPERATING SEGMENTS
LIST OF FIGURES
FIGURE 1.GLOBAL PREPAID CARD MARKET SEGMENTATION
FIGURE 2.TOP INVESTMENT POCKET
FIGURE 3.TOP WINNING STRATEGIES (%)
FIGURE 4.PREPAID CARD MARKET FOR CLOSED LOOP PREPAID CARD, 2019-2027 ($MILLION)
FIGURE 5.PREPAID CARD MARKET FOR OPEN LOOP PREPAID CARD, 2019-2027 ($MILLION)
FIGURE 6.PREPAID CARD MARKET FOR GENERAL-PURPOSE RELOADABLE CARD, 2019-2027 ($MILLION)
FIGURE 7.PREPAID CARD MARKET FOR GIFT CARD, 2019-2027 ($MILLION)
FIGURE 8.PREPAID CARD MARKET FOR GOVERNMENT BENEFITS/DISBURSEMENT CARD, 2019-2027 ($MILLION)
FIGURE 9.PREPAID CARD MARKET FOR INCENTIVE/PAYROLL CARD, 2019-2027 ($MILLION)
FIGURE 10.PREPAID CARD MARKET FOR OTHERS, 2019-2027 ($MILLION)
FIGURE 11.PREPAID CARD MARKET FOR RETAIL ESTABLISHMENTS, 2019-2027 ($MILLION)
FIGURE 12.PREPAID CARD MARKET FOR CORPORATE INSTITUTIONS, 2019-2027 ($MILLION)
FIGURE 13.PREPAID CARD MARKET FOR GOVERNMENT, 2019-2027 ($MILLION)
FIGURE 14.PREPAID CARD MARKET FOR FINANCIAL INSTITUTIONS & OTHERS, 2019-2027 ($MILLION)
FIGURE 15.GLOBAL PREPAID CARD, BY REGION, 2019 (%)
FIGURE 16.U.S. PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 17.CANADA PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 18.UK PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 19.GERMANY PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 20.FRANCE PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 21.RUSSIA PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 22.REST OF EUROPE PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 23.INDIA PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 24.CHINA PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 25.JAPAN PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 26.SOUTH KOREA PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 27.AUSTRALIA PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 28.REST OF ASIA-PACIFIC PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 29.LATIN AMERICA PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 30.MIDDLE EAST PREPAID CARD MARKET, 2019-2027 ($MILLION)
FIGURE 31.AFRICA PREPAID CARD MARKET, 2019-2027 ($MILLION)
Prepaid card is a form of secured and stored value card. All purchases made with prepaid cards are checked for approval against existing funds. In addition, prepaid cards are less secure than debit cards, which can lead to payment fraud and loss of money. However, prepaid card providers are working on to increase prepaid card security and enhance their customer base. Furthermore, corporate institutions in North America and Europe use payroll card for disbursing salaries to their employees. These cards have gained popularity among organizations using large number of checks for payment.
The prepaid card market is expected to provide promising growth prospects throughout the forecast period, owing to rise in demand for cash alternatives, increase in number of internet users, developments in the e-commerce industry, and increase in adoption of prepaid cards because of adding funds through multiple avenues. The recent business scenario has witnessed an upsurge in usage of prepaid card across various industry verticals. Companies are now adopting efficient techniques to provide consumers with innovated and cost-efficient products.
According to CXOs of the leading companies, increase in economic strength of developing nations such as China and India, is expected to provide lucrative opportunities for the market growth. North America is expected to dominate the market during the forecast period. U.S. accounts for major share of the global prepaid card market share due to growth in digitalization, unbanked population, and enhanced mobile banking. Moreover, emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities during the forecast period. The global players are focusing toward product development and increasing their geographical presence, owing to growth in competition among local vendors, in terms of features, quality, and price.
Q1. What is the market share of Prepaid Card Market?
A. The prepaid card market share is 14.9% from 2020 to 2027.
Q2. What factors are anticipated to drive Prepaid Card Market trends?
A. Increase in demand for cash alternatives and rapid expansion of the e-commerce industry are driving the prepaid card market growth.
Q3. How can I get report sample of Prepaid Card Market report?
A. To get the latest version of Prepaid Card Market Report.
Q4. Who are the potential customers of Prepaid Card Market?
A. The potential customers of prepaid card market are corporate institutions, government, financial Institutions, and others.
Q5. Which are the leading players in Prepaid Card Market?
A. PayPal Holdings, Inc., Green Dot Corporation ,UniRush, LLC., and Brink's Global Payments, LLC are the leading players in prepaid card market.
Q6. How can I get company profiles on top ten players of Prepaid Card market?
A. On the basis of top growing big corporations, we select top 10 players.
Q7. What are the applications of Prepaid Card industry?
A. The applications of Prepaid Card industry are retail establishments, corporate institutions, government, financial institutions, and others.
Q8. What are the key growth strategies of Prepaid Card industry players?
A. The key growth strategies of prepaid card market players are collaboration, agreement, partnership, product launch, expansion, and aquisition.
Q9. How large is my target market?
A. The prepaid card market is expected to reach $5510.87 billion by 2027.
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