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2023
Prepaid Card Market

Prepaid Card Market

by Offering (General Purpose Reloadable Card, Gift Cards, Government Benefit/Disbursement Card, Incentive/Payroll Card, Others), by Card Type (Closed Loop Prepaid Card, Open Loop Prepaid Card), by End User (Retail Establishments, Corporate, Government/Public sector): Global Opportunity Analysis and Industry Forecast, 2023-2032

Report Code: A01622
Sep 2023 | Pages: 263
Tables: 125
Charts: 65
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Prepaid Card Market Research, 2032

The global prepaid card market was valued at $2.5 trillion in 2022, and is projected to reach $14.4 trillion by 2032, growing at a CAGR of 19.5% from 2023 to 2032.

COVID-19 significantly accelerated the adoption of prepaid cards. Lockdowns and economic uncertainty led to increased demand for contactless payments and online shopping. Prepaid cards offered a convenient and safe alternative, especially for those without traditional bank accounts. As a result, the prepaid card market experienced a notable surge in usage and acceptance during the pandemic.

The prepaid card market is expected to exhibit high growth during the forecast period, owing to the convenience offered similar to that of a credit or debit card with the ability to allow the end user to set the spending limit according to the budget. Furthermore, prepaid cards are a plastic alternative to carrying money around and are often called everyday cards. Prepaid cards have taken the place of cash, checks, and other payment cards where consumers or businesses want to use an electronic means of payment, without linking the payment to a credit or debit account. In addition, prepaid cards are a useful alternative to typical banking products for people do not have bank accounts or prefer more control over their spending, as they are often used for budgeting, internet shopping, and travel. Moreover, prepaid cards are frequently used as gift cards and staff incentives since they allow recipients to select how to spend the funds. During the holiday season and important occasions, this sector expands significantly.

The dynamics of the prepaid card market are influenced by several compelling driving factors. The rise in demand for prepaid cards in remittances has significantly contributed to the prepaid card market growth as more people work and reside globally, there is a greater need for convenient and cost-effective methods of sending money back home. Prepaid cards are a straightforward way for recipients to access funds while minimizing the complications and fees associated with traditional money transfer methods. These cards provide a safe platform for transferring payments across borders, and they frequently offer attractive exchange rates. Moreover, the rise in demand for cash alternatives drives the expansion of the prepaid card industry, as customers seek easy, safe, and flexible payment solutions that provide the benefits of electronic transactions without requiring traditional cash usage.

However, security issues and privacy concerns can significantly hinder the growth of the prepaid card market, as consumers and organizations are both concerned about potential data breaches, unauthorized transactions, and identity theft in the prepaid card market. Fraudulent transactions with prepaid card information reduce faith in the payment system. Furthermore, the anonymous nature of some prepaid cards raises worries about their possible use in criminal activities. In some circumstances, a lack of sufficient regulatory monitoring might could heighten these concerns. Prepaid card companies must prioritize solid security measures, transparent data management practices, and effective fraud prevention techniques in order to prosper. Moreover, mobile payment competition are hamper the growth of prepaid card market. On the contrary, the surge in demand for prepaid cards from various developing countries presents a lucrative opportunity for the prepaid card market, as traditional banking services may be inaccessible or inconvenient for a large section of the people in these areas. Prepaid cards provide an all-inclusive solution, bridging the gap between cash-dependent nations and modern financial services. Prepaid cards provide a means for secure electronic transactions without the requirement for a traditional bank account as more people seek safer and more effective methods to handle their finances.

The report focuses on growth prospects, restraints, and trends of the prepaid card market analysis. 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

Segment Review

The prepaid card market is segmented on the basis of offering, card type, end user, and region. By offering, it is classified into general-purpose reloadable card, gift cards, government benefit/disbursement card, incentive/payroll card, and others. By card type, the market is bifurcated into open closed loop prepaid card and open loop prepaid card. By end user, the market analyzed across retail establishments, corporate and government/public sector. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Prepaid Card Market

On the basis of card type, the closed loop prepaid card segment held the highest share in the prepaid card market. This was attributed to fact that they are associated with certain stores or businesses, providing specialized incentives, promotions, and brand loyalty advantages that attract customers looking for tailored and valuable experiences. On the other hand, open loop prepaid card is forecasted to be the fastest-growing segment. This is due to fact that they have broader usability, functioning like standard debit or credit cards and enabling flexibility for varied purchases, online transactions, and ATM withdrawals, making them appealing to a wide spectrum of customers.

Prepaid Card Market

Based on region, North America attained the highest market share in the prepaid card market. This can be attributed to the region's well-established financial infrastructure, digital payment usage, and technical improvements all contribute to the rapid expansion of prepaid cards. Furthermore, the popularity of online shopping, e-commerce, and mobile payment options fits with the simplicity and security that prepaid cards provide. The region's diversified population, which includes both banked and unbanked persons, drives the need for flexible payment options. Meanwhile, the Asia-Pacific region is forecasted to be the fastest-growing segment in the prepaid card market. This growth can be attributed to the region's expanding middle class, and rapid technical advances have resulted in increased digital use and financial inclusion measures. Many Asian-Pacific countries have sizable unbanked or underbanked populations, which creates a demand for alternative financial solutions. Prepaid cards provide an easy way for people to enter the official financial system, allowing them to conduct electronic transactions, access online services, and manage their finances more securely.

The report analyzes the profiles of key players operating in the prepaid card market outlook such as American Express Company, Green Dot Corporation, JPMorgan Chase And Co, Kaiku Finance LLC, Mango Financial, Inc., Mastercard, NetSpend Corporation, PayPal Holdings, Inc., Travelex Foreign Coin Services Limited, Visa Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the prepaid card market share.   

Market Landscape and Trends

The rise of fintech companies and digital transformation have altered the prepaid card market. Prepaid cards are rapidly being integrated with mobile wallets, enabling customers to access and manage their cards via smartphone apps. Moreover, prepaid card companies are providing personalized experiences by allowing customers to personalize their free debit cards with unique looks and functionalities, as tailored offers, discounts, and prizes based on purchasing habits are becoming more common. In addition, visa prepaid cards are becoming more integrated with cryptocurrencies and digital assets, as users can load cryptocurrencies onto their cards and utilize them for daily transactions, bridging the gap between traditional finance and burgeoning digital currencies. Therefore, digital transformation and fintech integration, contactless payment, cryptocurrency, and digital assets are drive the growth of the prepaid card market size.

Top Impacting Factors

Rise in demand for prepaid cards in remittances

To support financial inclusion and complement remittances, prepaid payments cards have become an important means and channel that has gained wide attention in both emerging and developed markets. The prepaid card industry comprises a significant number of card types that offer cardholders a feature to transfer funds to authorized family members in other countries. Moreover, to opt this feature, the user may opt for either of the two structures: dual card or subaccount holding. In the dual card structure, the accountholder receives two cards, one of which can be sent to the family abroad to access funds from the senders account. Furthermore, prepaid cards are a convenient way to transmit and receive money, as recipients can use these cards at ATMs, online merchants, and physical locations, making it simple to access funds without the requirement for a regular bank account. In addition, individuals without a formal bank account can obtain prepaid cards. This is especially important in areas with limited access to banking services, allowing a larger populace to participate in the financial system. Therefore, the capacity of prepaid cards to provide a more accessible, affordable, and user-friendly alternative to traditional money transfer methods has resulted in an increase in demand for them in the prepaid card market.

Security issues and privacy concerns

Prepaid cards have become the fastest growing payment method owing to the evolution in mode of electronic payment. This advanced payment method is prone to hacking, as currently these cards do not have enough security measures that can prevent payment frauds. Such security breaches leading to data loss and confidentiality breach of crucial information are possible since dozens of criminal hackers have started to exploit prepaid card systems as well as back-office systems, which are used by banks to manage their prepaid card products to facilitate online banking fraud. In addition, in a rush to make mobile prepaid card rollouts as convenient and low-cost as possible; companies such as Target and Starbucks have overlooked security holes, which allow any shopper to use the dollars loaded into other shoppers' prepaid cards. Moreover, criminals may use phishing emails, phone calls, or other ways to trick cardholders into disclosing important information, as customers' prepaid card information may be compromised if they fall prey to such practices. Therefore, security issues and privacy concerns are hamper the growth of prepaid card industry.

Surge in demand of prepaid cards from various developing countries

Evolution of prepaid cards and vouchers has triggered the growth of the prepaid card market with on-going trend of self-consumption in the country. In addition, the adoption of prepaid cards is increasing, due to numerous prepaid programs, established by Italian post office named PostePay. The rising adoption of these cards for online purchases, traveling, and distribution among children as cash alternative also accelerates the growth of prepaid cards. Furthermore, individuals in underdeveloped countries are increasingly shopping online as e-commerce expands. Prepaid cards can offer users a secure and dependable option to make online purchases without the need for a credit card or a bank account. In addition, fintech innovation is exploding in emerging countries, resulting in the development of digital financial services tailored to the specific needs of these markets, these fintech ecosystems frequently include prepaid cards. Moreover, prepaid cards can help with small-scale financial operations like savings, lending, and payments in areas where microfinance and micro transactions are common. Therefore, emerging fintech ecosystem, cross-border E-commerce, microfinance, and micro transactions are sure in demand of prepaid cards from various developing countries.

 Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the prepaid card market forecast from 2022 to 2032 to identify the prevailing prepaid card market opportunity.
  • Market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the prepaid card market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global prepaid card market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the prepaid card market players.
  • The report includes an analysis of the regional as well as global prepaid card market trends, key players, market segments, application areas, and market growth strategies.

Prepaid Card Market Report Highlights

Aspects Details
Market Size By 2032 USD 14.4 trillion
Growth Rate CAGR of 19.5%
Forecast period 2022 - 2032
Report Pages 263
By Offering
  • Gift Cards
  • Government Benefit/Disbursement Card
  • Incentive/Payroll Card
  • General Purpose Reloadable Card
  • Others
By Card Type
  • Closed Loop Prepaid Card
  • Open Loop Prepaid Card
By End User
  • Retail Establishments
  • Corporate
  • Government/Public sector
By Region
  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players American Express Company, JPMorgan Chase And Co., Kaiku Finance LLC, Green Dot Corporation, NetSpend Corporation, Visa Inc., PayPal Holdings, Inc., Mastercard, Travelex Foreign Coin Services Limited, Mango Financial, Inc.

Analyst Review

Prepaid cards have emerged as an effective means of increasing financial inclusion. Individuals who do not have access to regular banking services can use them to make electronic payments. This all-inclusive strategy enables people to participate in the economy and reap the benefits of electronic transactions. Furthermore, prepaid cards ability to give customers with exact control over their spending is one of their most appealing qualities. Users can only load the amount they intend to spend, preventing overpaying and assisting them in staying within their budgets.

This level of control is especially beneficial for people who want to handle their cash wisely. Moreover, prepaid cards play an important role in the delivery of government assistance and economic stimulus payments. These cards have assisted governments in rapidly and efficiently reaching residents and delivering much-needed financial assistance during times of crisis. Furthermore, some prepaid card companies offer eco-friendly solutions, such as using recycled materials for card creation or cooperating with organizations dedicated to sustainability.

Furthermore, market players are adopting various strategies for improving customer satisfaction. For instance, in June 2023, I&M bank collaborated with Mastercard to launch a suite of premium world debit cards and multicurrency prepaid cards, which allow customers to make transactions in both domestic and international markets. Moreover, they provide added value while preserving world-class security and dependability, which is supported by Mastercard's trusted technology. The new technology, which includes contactless payment, offers a quick and secure checkout experience while also giving customers the option to pay how they choose.

In November 2022, Visa expanded its prepaid card services through pilot payment innovations, including instantly issued prepaid cards with animated card art and support facial biometric payments. As consumers get more accustomed to receiving things instantly, Visa is testing a digital card issuing option for a limited number of cardholders in Doha.

A digital prepaid card is quickly issued after scanning a QR code and can be loaded into a mobile wallet. The digital prepaid card has animated card art and the official mascot La'eeb, illustrating a future in which consumers may add more customization and even digital animation to their Visa cards. Therefore, these strategies adopted by the market players will provide major lucrative opportunities for the growth of the prepaid card market in the upcoming years.

Some of the key players profiled in the report include American Express Company, Green Dot Corporation, JPMorgan Chase And Co, Kaiku Finance LLC, Mango Financial, Inc., Mastercard, NetSpend Corporation, PayPal Holdings, Inc., Travelex Foreign Coin Services Limited, and Visa Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the prepaid card market.

 
  • CHAPTER 1: INTRODUCTION

    • 1.1. Report description

    • 1.2. Key market segments

    • 1.3. Key benefits to the stakeholders

    • 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 OVERVIEW

    • 3.1. Market definition and scope

    • 3.2. Key findings

      • 3.2.1. Top impacting factors

      • 3.2.2. Top investment pockets

    • 3.3. Porter’s five forces analysis

      • 3.3.1. Moderate to high bargaining power of suppliers

      • 3.3.2. Moderate to high threat of new entrants

      • 3.3.3. Moderate to high threat of substitutes

      • 3.3.4. Moderate to high intensity of rivalry

      • 3.3.5. Moderate to high bargaining power of buyers

    • 3.4. Market dynamics

      • 3.4.1. Drivers

        • 3.4.1.1. Rise in demand for prepaid cards in remittances
        • 3.4.1.2. Rise in demand for cash alternatives
        • 3.4.1.3. Increase in unbanked and underbanked population
      • 3.4.2. Restraints

        • 3.4.2.1. Security issues and privacy concerns
        • 3.4.2.2. Increase in penetration of digital payment technologies
      • 3.4.3. Opportunities

        • 3.4.3.1. Surge in demand for prepaid cards from various developing countries
  • CHAPTER 4: PREPAID CARD MARKET, BY OFFERING

    • 4.1. Overview

      • 4.1.1. Market size and forecast

    • 4.2. General Purpose Reloadable 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. Gift Cards

      • 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

    • 4.4. Government Benefit/Disbursement Card

      • 4.4.1. Key market trends, growth factors and opportunities

      • 4.4.2. Market size and forecast, by region

      • 4.4.3. Market share analysis by country

    • 4.5. Incentive/Payroll Card

      • 4.5.1. Key market trends, growth factors and opportunities

      • 4.5.2. Market size and forecast, by region

      • 4.5.3. Market share analysis by country

    • 4.6. Others

      • 4.6.1. Key market trends, growth factors and opportunities

      • 4.6.2. Market size and forecast, by region

      • 4.6.3. Market share analysis by country

  • CHAPTER 5: PREPAID CARD MARKET, BY CARD TYPE

    • 5.1. Overview

      • 5.1.1. Market size and forecast

    • 5.2. Closed Loop Prepaid 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. Open Loop Prepaid 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

  • CHAPTER 6: PREPAID CARD MARKET, BY END USER

    • 6.1. Overview

      • 6.1.1. Market size and forecast

    • 6.2. Retail Establishments

      • 6.2.1. Key market trends, growth factors and opportunities

      • 6.2.2. Market size and forecast, by region

      • 6.2.3. Market share analysis by country

    • 6.3. Corporate

      • 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/Public sector

      • 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

  • CHAPTER 7: PREPAID CARD MARKET, BY REGION

    • 7.1. Overview

      • 7.1.1. Market size and forecast By Region

    • 7.2. North America

      • 7.2.1. Key market trends, growth factors and opportunities

      • 7.2.2. Market size and forecast, by Offering

      • 7.2.3. Market size and forecast, by Card Type

      • 7.2.4. Market size and forecast, by End User

      • 7.2.5. Market size and forecast, by country

        • 7.2.5.1. U.S.
          • 7.2.5.1.1. Market size and forecast, by Offering
          • 7.2.5.1.2. Market size and forecast, by Card Type
          • 7.2.5.1.3. Market size and forecast, by End User
        • 7.2.5.2. Canada
          • 7.2.5.2.1. Market size and forecast, by Offering
          • 7.2.5.2.2. Market size and forecast, by Card Type
          • 7.2.5.2.3. Market size and forecast, by End User
    • 7.3. Europe

      • 7.3.1. Key market trends, growth factors and opportunities

      • 7.3.2. Market size and forecast, by Offering

      • 7.3.3. Market size and forecast, by Card Type

      • 7.3.4. Market size and forecast, by End User

      • 7.3.5. Market size and forecast, by country

        • 7.3.5.1. UK
          • 7.3.5.1.1. Market size and forecast, by Offering
          • 7.3.5.1.2. Market size and forecast, by Card Type
          • 7.3.5.1.3. Market size and forecast, by End User
        • 7.3.5.2. Germany
          • 7.3.5.2.1. Market size and forecast, by Offering
          • 7.3.5.2.2. Market size and forecast, by Card Type
          • 7.3.5.2.3. Market size and forecast, by End User
        • 7.3.5.3. France
          • 7.3.5.3.1. Market size and forecast, by Offering
          • 7.3.5.3.2. Market size and forecast, by Card Type
          • 7.3.5.3.3. Market size and forecast, by End User
        • 7.3.5.4. Italy
          • 7.3.5.4.1. Market size and forecast, by Offering
          • 7.3.5.4.2. Market size and forecast, by Card Type
          • 7.3.5.4.3. Market size and forecast, by End User
        • 7.3.5.5. Spain
          • 7.3.5.5.1. Market size and forecast, by Offering
          • 7.3.5.5.2. Market size and forecast, by Card Type
          • 7.3.5.5.3. Market size and forecast, by End User
        • 7.3.5.6. Rest of Europe
          • 7.3.5.6.1. Market size and forecast, by Offering
          • 7.3.5.6.2. Market size and forecast, by Card Type
          • 7.3.5.6.3. Market size and forecast, by End User
    • 7.4. Asia-Pacific

      • 7.4.1. Key market trends, growth factors and opportunities

      • 7.4.2. Market size and forecast, by Offering

      • 7.4.3. Market size and forecast, by Card Type

      • 7.4.4. Market size and forecast, by End User

      • 7.4.5. Market size and forecast, by country

        • 7.4.5.1. China
          • 7.4.5.1.1. Market size and forecast, by Offering
          • 7.4.5.1.2. Market size and forecast, by Card Type
          • 7.4.5.1.3. Market size and forecast, by End User
        • 7.4.5.2. Japan
          • 7.4.5.2.1. Market size and forecast, by Offering
          • 7.4.5.2.2. Market size and forecast, by Card Type
          • 7.4.5.2.3. Market size and forecast, by End User
        • 7.4.5.3. India
          • 7.4.5.3.1. Market size and forecast, by Offering
          • 7.4.5.3.2. Market size and forecast, by Card Type
          • 7.4.5.3.3. Market size and forecast, by End User
        • 7.4.5.4. Australia
          • 7.4.5.4.1. Market size and forecast, by Offering
          • 7.4.5.4.2. Market size and forecast, by Card Type
          • 7.4.5.4.3. Market size and forecast, by End User
        • 7.4.5.5. South Korea
          • 7.4.5.5.1. Market size and forecast, by Offering
          • 7.4.5.5.2. Market size and forecast, by Card Type
          • 7.4.5.5.3. Market size and forecast, by End User
        • 7.4.5.6. Rest of Asia-Pacific
          • 7.4.5.6.1. Market size and forecast, by Offering
          • 7.4.5.6.2. Market size and forecast, by Card Type
          • 7.4.5.6.3. Market size and forecast, by End User
    • 7.5. LAMEA

      • 7.5.1. Key market trends, growth factors and opportunities

      • 7.5.2. Market size and forecast, by Offering

      • 7.5.3. Market size and forecast, by Card Type

      • 7.5.4. Market size and forecast, by End User

      • 7.5.5. Market size and forecast, by country

        • 7.5.5.1. Latin America
          • 7.5.5.1.1. Market size and forecast, by Offering
          • 7.5.5.1.2. Market size and forecast, by Card Type
          • 7.5.5.1.3. Market size and forecast, by End User
        • 7.5.5.2. Middle East
          • 7.5.5.2.1. Market size and forecast, by Offering
          • 7.5.5.2.2. Market size and forecast, by Card Type
          • 7.5.5.2.3. Market size and forecast, by End User
        • 7.5.5.3. Africa
          • 7.5.5.3.1. Market size and forecast, by Offering
          • 7.5.5.3.2. Market size and forecast, by Card Type
          • 7.5.5.3.3. Market size and forecast, by End User
  • CHAPTER 8: COMPETITIVE LANDSCAPE

    • 8.1. Introduction

    • 8.2. Top winning strategies

    • 8.3. Product Mapping of Top 10 Player

    • 8.4. Competitive Dashboard

    • 8.5. Competitive Heatmap

    • 8.6. Top player positioning, 2022

  • CHAPTER 9: COMPANY PROFILES

    • 9.1. Green Dot Corporation

      • 9.1.1. Company overview

      • 9.1.2. Key Executives

      • 9.1.3. Company snapshot

      • 9.1.4. Operating business segments

      • 9.1.5. Product portfolio

      • 9.1.6. Business performance

      • 9.1.7. Key strategic moves and developments

    • 9.2. American Express Company

      • 9.2.1. Company overview

      • 9.2.2. Key Executives

      • 9.2.3. Company snapshot

      • 9.2.4. Operating business segments

      • 9.2.5. Product portfolio

      • 9.2.6. Business performance

      • 9.2.7. Key strategic moves and developments

    • 9.3. JPMorgan Chase And Co.

      • 9.3.1. Company overview

      • 9.3.2. Key Executives

      • 9.3.3. Company snapshot

      • 9.3.4. Operating business segments

      • 9.3.5. Product portfolio

      • 9.3.6. Business performance

    • 9.4. PayPal Holdings, Inc.

      • 9.4.1. Company overview

      • 9.4.2. Key Executives

      • 9.4.3. Company snapshot

      • 9.4.4. Operating business segments

      • 9.4.5. Product portfolio

      • 9.4.6. Business performance

    • 9.5. Mastercard

      • 9.5.1. Company overview

      • 9.5.2. Key Executives

      • 9.5.3. Company snapshot

      • 9.5.4. Operating business segments

      • 9.5.5. Product portfolio

      • 9.5.6. Business performance

      • 9.5.7. Key strategic moves and developments

    • 9.6. Visa Inc.

      • 9.6.1. Company overview

      • 9.6.2. Key Executives

      • 9.6.3. Company snapshot

      • 9.6.4. Operating business segments

      • 9.6.5. Product portfolio

      • 9.6.6. Business performance

      • 9.6.7. Key strategic moves and developments

    • 9.7. NetSpend Corporation

      • 9.7.1. Company overview

      • 9.7.2. Key Executives

      • 9.7.3. Company snapshot

      • 9.7.4. Operating business segments

      • 9.7.5. Product portfolio

      • 9.7.6. Business performance

    • 9.8. Mango Financial, Inc.

      • 9.8.1. Company overview

      • 9.8.2. Key Executives

      • 9.8.3. Company snapshot

      • 9.8.4. Operating business segments

      • 9.8.5. Product portfolio

    • 9.9. Kaiku Finance LLC

      • 9.9.1. Company overview

      • 9.9.2. Key Executives

      • 9.9.3. Company snapshot

      • 9.9.4. Operating business segments

      • 9.9.5. Product portfolio

    • 9.10. Travelex Foreign Coin Services Limited

      • 9.10.1. Company overview

      • 9.10.2. Key Executives

      • 9.10.3. Company snapshot

      • 9.10.4. Operating business segments

      • 9.10.5. Product portfolio

  • LIST OF TABLES

  • TABLE 01. GLOBAL PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 02. PREPAID CARD MARKET FOR GENERAL PURPOSE RELOADABLE CARD, BY REGION, 2022-2032 ($BILLION)
    TABLE 03. PREPAID CARD MARKET FOR GIFT CARDS, BY REGION, 2022-2032 ($BILLION)
    TABLE 04. PREPAID CARD MARKET FOR GOVERNMENT BENEFIT/DISBURSEMENT CARD, BY REGION, 2022-2032 ($BILLION)
    TABLE 05. PREPAID CARD MARKET FOR INCENTIVE/PAYROLL CARD, BY REGION, 2022-2032 ($BILLION)
    TABLE 06. PREPAID CARD MARKET FOR OTHERS, BY REGION, 2022-2032 ($BILLION)
    TABLE 07. GLOBAL PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 08. PREPAID CARD MARKET FOR CLOSED LOOP PREPAID CARD, BY REGION, 2022-2032 ($BILLION)
    TABLE 09. PREPAID CARD MARKET FOR OPEN LOOP PREPAID CARD, BY REGION, 2022-2032 ($BILLION)
    TABLE 10. GLOBAL PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 11. PREPAID CARD MARKET FOR RETAIL ESTABLISHMENTS, BY REGION, 2022-2032 ($BILLION)
    TABLE 12. PREPAID CARD MARKET FOR CORPORATE, BY REGION, 2022-2032 ($BILLION)
    TABLE 13. PREPAID CARD MARKET FOR GOVERNMENT/PUBLIC SECTOR, BY REGION, 2022-2032 ($BILLION)
    TABLE 14. PREPAID CARD MARKET, BY REGION, 2022-2032 ($BILLION)
    TABLE 15. NORTH AMERICA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 16. NORTH AMERICA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 17. NORTH AMERICA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 18. NORTH AMERICA PREPAID CARD MARKET, BY COUNTRY, 2022-2032 ($BILLION)
    TABLE 19. U.S. PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 20. U.S. PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 21. U.S. PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 22. CANADA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 23. CANADA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 24. CANADA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 25. EUROPE PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 26. EUROPE PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 27. EUROPE PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 28. EUROPE PREPAID CARD MARKET, BY COUNTRY, 2022-2032 ($BILLION)
    TABLE 29. UK PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 30. UK PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 31. UK PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 32. GERMANY PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 33. GERMANY PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 34. GERMANY PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 35. FRANCE PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 36. FRANCE PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 37. FRANCE PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 38. ITALY PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 39. ITALY PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 40. ITALY PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 41. SPAIN PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 42. SPAIN PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 43. SPAIN PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 44. REST OF EUROPE PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 45. REST OF EUROPE PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 46. REST OF EUROPE PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 47. ASIA-PACIFIC PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 48. ASIA-PACIFIC PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 49. ASIA-PACIFIC PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 50. ASIA-PACIFIC PREPAID CARD MARKET, BY COUNTRY, 2022-2032 ($BILLION)
    TABLE 51. CHINA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 52. CHINA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 53. CHINA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 54. JAPAN PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 55. JAPAN PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 56. JAPAN PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 57. INDIA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 58. INDIA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 59. INDIA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 60. AUSTRALIA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 61. AUSTRALIA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 62. AUSTRALIA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 63. SOUTH KOREA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 64. SOUTH KOREA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 65. SOUTH KOREA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 66. REST OF ASIA-PACIFIC PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 67. REST OF ASIA-PACIFIC PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 68. REST OF ASIA-PACIFIC PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 69. LAMEA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 70. LAMEA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 71. LAMEA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 72. LAMEA PREPAID CARD MARKET, BY COUNTRY, 2022-2032 ($BILLION)
    TABLE 73. LATIN AMERICA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 74. LATIN AMERICA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 75. LATIN AMERICA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 76. MIDDLE EAST PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 77. MIDDLE EAST PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 78. MIDDLE EAST PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 79. AFRICA PREPAID CARD MARKET, BY OFFERING, 2022-2032 ($BILLION)
    TABLE 80. AFRICA PREPAID CARD MARKET, BY CARD TYPE, 2022-2032 ($BILLION)
    TABLE 81. AFRICA PREPAID CARD MARKET, BY END USER, 2022-2032 ($BILLION)
    TABLE 82. GREEN DOT CORPORATION: KEY EXECUTIVES
    TABLE 83. GREEN DOT CORPORATION: COMPANY SNAPSHOT
    TABLE 84. GREEN DOT CORPORATION: SERVICE SEGMENTS
    TABLE 85. GREEN DOT CORPORATION: PRODUCT PORTFOLIO
    TABLE 86. GREEN DOT CORPORATION: KEY STRATERGIES
    TABLE 87. AMERICAN EXPRESS COMPANY: KEY EXECUTIVES
    TABLE 88. AMERICAN EXPRESS COMPANY: COMPANY SNAPSHOT
    TABLE 89. AMERICAN EXPRESS COMPANY: SERVICE SEGMENTS
    TABLE 90. AMERICAN EXPRESS COMPANY: PRODUCT PORTFOLIO
    TABLE 91. AMERICAN EXPRESS COMPANY: KEY STRATERGIES
    TABLE 92. JPMORGAN CHASE AND CO.: KEY EXECUTIVES
    TABLE 93. JPMORGAN CHASE AND CO.: COMPANY SNAPSHOT
    TABLE 94. JPMORGAN CHASE AND CO.: SERVICE SEGMENTS
    TABLE 95. JPMORGAN CHASE AND CO.: PRODUCT PORTFOLIO
    TABLE 96. PAYPAL HOLDINGS, INC.: KEY EXECUTIVES
    TABLE 97. PAYPAL HOLDINGS, INC.: COMPANY SNAPSHOT
    TABLE 98. PAYPAL HOLDINGS, INC.: SERVICE SEGMENTS
    TABLE 99. PAYPAL HOLDINGS, INC.: PRODUCT PORTFOLIO
    TABLE 100. MASTERCARD: KEY EXECUTIVES
    TABLE 101. MASTERCARD: COMPANY SNAPSHOT
    TABLE 102. MASTERCARD: SERVICE SEGMENTS
    TABLE 103. MASTERCARD: PRODUCT PORTFOLIO
    TABLE 104. MASTERCARD: KEY STRATERGIES
    TABLE 105. VISA INC.: KEY EXECUTIVES
    TABLE 106. VISA INC.: COMPANY SNAPSHOT
    TABLE 107. VISA INC.: SERVICE SEGMENTS
    TABLE 108. VISA INC.: PRODUCT PORTFOLIO
    TABLE 109. VISA INC.: KEY STRATERGIES
    TABLE 110. NETSPEND CORPORATION: KEY EXECUTIVES
    TABLE 111. NETSPEND CORPORATION: COMPANY SNAPSHOT
    TABLE 112. NETSPEND CORPORATION: SERVICE SEGMENTS
    TABLE 113. NETSPEND CORPORATION: PRODUCT PORTFOLIO
    TABLE 114. MANGO FINANCIAL, INC.: KEY EXECUTIVES
    TABLE 115. MANGO FINANCIAL, INC.: COMPANY SNAPSHOT
    TABLE 116. MANGO FINANCIAL, INC.: SERVICE SEGMENTS
    TABLE 117. MANGO FINANCIAL, INC.: PRODUCT PORTFOLIO
    TABLE 118. KAIKU FINANCE LLC: KEY EXECUTIVES
    TABLE 119. KAIKU FINANCE LLC: COMPANY SNAPSHOT
    TABLE 120. KAIKU FINANCE LLC: SERVICE SEGMENTS
    TABLE 121. KAIKU FINANCE LLC: PRODUCT PORTFOLIO
    TABLE 122. TRAVELEX FOREIGN COIN SERVICES LIMITED: KEY EXECUTIVES
    TABLE 123. TRAVELEX FOREIGN COIN SERVICES LIMITED: COMPANY SNAPSHOT
    TABLE 124. TRAVELEX FOREIGN COIN SERVICES LIMITED: SERVICE SEGMENTS
    TABLE 125. TRAVELEX FOREIGN COIN SERVICES LIMITED: PRODUCT PORTFOLIO
  • LIST OF FIGURES

  • FIGURE 01. PREPAID CARD MARKET, 2022-2032
    FIGURE 02. SEGMENTATION OF PREPAID CARD MARKET,2022-2032
    FIGURE 03. TOP INVESTMENT POCKETS IN PREPAID CARD MARKET (2023-2032)
    FIGURE 04. MODERATE TO HIGH BARGAINING POWER OF SUPPLIERS
    FIGURE 05. MODERATE TO HIGH THREAT OF NEW ENTRANTS
    FIGURE 06. MODERATE TO HIGH THREAT OF SUBSTITUTES
    FIGURE 07. MODERATE TO HIGH INTENSITY OF RIVALRY
    FIGURE 08. MODERATE TO HIGH BARGAINING POWER OF BUYERS
    FIGURE 09. GLOBAL PREPAID CARD MARKET:DRIVERS, RESTRAINTS AND OPPORTUNITIES
    FIGURE 10. PREPAID CARD MARKET, BY OFFERING, 2022 AND 2032(%)
    FIGURE 11. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR GENERAL PURPOSE RELOADABLE CARD, BY COUNTRY 2022 AND 2032(%)
    FIGURE 12. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR GIFT CARDS, BY COUNTRY 2022 AND 2032(%)
    FIGURE 13. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR GOVERNMENT BENEFIT/DISBURSEMENT CARD, BY COUNTRY 2022 AND 2032(%)
    FIGURE 14. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR INCENTIVE/PAYROLL CARD, BY COUNTRY 2022 AND 2032(%)
    FIGURE 15. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR OTHERS, BY COUNTRY 2022 AND 2032(%)
    FIGURE 16. PREPAID CARD MARKET, BY CARD TYPE, 2022 AND 2032(%)
    FIGURE 17. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR CLOSED LOOP PREPAID CARD, BY COUNTRY 2022 AND 2032(%)
    FIGURE 18. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR OPEN LOOP PREPAID CARD, BY COUNTRY 2022 AND 2032(%)
    FIGURE 19. PREPAID CARD MARKET, BY END USER, 2022 AND 2032(%)
    FIGURE 20. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR RETAIL ESTABLISHMENTS, BY COUNTRY 2022 AND 2032(%)
    FIGURE 21. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR CORPORATE, BY COUNTRY 2022 AND 2032(%)
    FIGURE 22. COMPARATIVE SHARE ANALYSIS OF PREPAID CARD MARKET FOR GOVERNMENT/PUBLIC SECTOR, BY COUNTRY 2022 AND 2032(%)
    FIGURE 23. PREPAID CARD MARKET BY REGION, 2022 AND 2032(%)
    FIGURE 24. U.S. PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 25. CANADA PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 26. UK PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 27. GERMANY PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 28. FRANCE PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 29. ITALY PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 30. SPAIN PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 31. REST OF EUROPE PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 32. CHINA PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 33. JAPAN PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 34. INDIA PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 35. AUSTRALIA PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 36. SOUTH KOREA PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 37. REST OF ASIA-PACIFIC PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 38. LATIN AMERICA PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 39. MIDDLE EAST PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 40. AFRICA PREPAID CARD MARKET, 2022-2032 ($BILLION)
    FIGURE 41. TOP WINNING STRATEGIES, BY YEAR (2022-2023)
    FIGURE 42. TOP WINNING STRATEGIES, BY DEVELOPMENT (2022-2023)
    FIGURE 43. TOP WINNING STRATEGIES, BY COMPANY (2022-2023)
    FIGURE 44. PRODUCT MAPPING OF TOP 10 PLAYERS
    FIGURE 45. COMPETITIVE DASHBOARD
    FIGURE 46. COMPETITIVE HEATMAP: PREPAID CARD MARKET
    FIGURE 47. TOP PLAYER POSITIONING, 2022
    FIGURE 48. GREEN DOT CORPORATION: NET REVENUE, 2020-2022 ($MILLION)
    FIGURE 49. GREEN DOT CORPORATION: REVENUE SHARE BY SEGMENT, 2022 (%)
    FIGURE 50. AMERICAN EXPRESS COMPANY: NET REVENUE, 2020-2022 ($MILLION)
    FIGURE 51. AMERICAN EXPRESS COMPANY: REVENUE SHARE BY SEGMENT, 2022 (%)
    FIGURE 52. AMERICAN EXPRESS COMPANY: REVENUE SHARE BY REGION, 2021 (%)
    FIGURE 53. JPMORGAN CHASE AND CO.: NET REVENUE, 2020-2022 ($MILLION)
    FIGURE 54. JPMORGAN CHASE AND CO.: REVENUE SHARE BY REGION, 2022 (%)
    FIGURE 55. PAYPAL HOLDINGS, INC.: NET REVENUE, 2020-2022 ($MILLION)
    FIGURE 56. PAYPAL HOLDINGS, INC.: REVENUE SHARE BY REGION, 2022 (%)
    FIGURE 57. MASTERCARD: NET REVENUE, 2020-2022 ($MILLION)
    FIGURE 58. MASTERCARD: REVENUE SHARE BY SEGMENT, 2022 (%)
    FIGURE 59. MASTERCARD: REVENUE SHARE BY REGION, 2022 (%)
    FIGURE 60. VISA INC.: NET REVENUE, 2020-2022 ($MILLION)
    FIGURE 61. VISA INC.: REVENUE SHARE BY SEGMENT, 2022 (%)
    FIGURE 62. VISA INC.: REVENUE SHARE BY REGION, 2022 (%)
    FIGURE 63. NETSPEND CORPORATION: NET REVENUE, 2020-2022 ($MILLION)
    FIGURE 64. NETSPEND CORPORATION: REVENUE SHARE BY SEGMENT, 2022 (%)
    FIGURE 65. NETSPEND CORPORATION: REVENUE SHARE BY REGION, 2022 (%)

 
 

The global prepaid card market has been gaining prominence in the recent years, owing to increase in awareness and convenience of their usage as these cards are not linked to the bank accounts of individuals. This eliminates the need for overdraft charges paid to banks by individuals. However, prepaid cards users cannot borrow the money, rather can only use the amount that is loaded into their cards. The acceptance of these cards was higher in developing economies than the developed countries.

Single-purpose prepaid card spending gained impetus in 2015, which in turn increased the adoption of prepaid cards in industry verticals such as retail establishment, corporate institutions, government, and others. In addition, developments in electronic payment and smart cards have propelled the market growth. For instance, in 2016, American Express launched Amex for Developers, a new portal providing a single point of access to company APIs and developer resources in categories such as payment services, customized experiences, data intelligence, and fraud prevention.

Market players have focused on developing innovative strategies for the adoption of prepaid cards in corporate institutions and government for ease of accessibility. Prepaid cards were introduced to aim at cater to the unbanked population who have limited access to bank accounts. However, the demand for these cards has increased in the recent years among traditional banking users, owing to increase in awareness and ease of access.

Rapid expansion of the e-commerce industry has compelled customers to use plastic money rather than cash. As stated by several banks, the new-age segment is one of the key factors driving sales transaction through credit, debit, and prepaid cards, globally. However, these advanced payment methods are prone to hacking, as these cards do not have security measures to prevent payment frauds. North America is the major revenue contributor in the global market, followed by Europe. The prepaid card markets in Asia-Pacific and LAMEA regions are expected to grow significantly during the forecast period.

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FREQUENTLY ASKED QUESTIONS?

A. The rise of fintech companies and digital transformation have altered the prepaid card market. Prepaid cards are rapidly being integrated with mobile wallets, enabling customers to access and manage their cards via smartphone apps. Moreover, prepaid card companies are providing personalized experiences by allowing customers to personalize their cards with unique looks and functionalities, as tailored offers, discounts, and prizes based on purchasing habits are becoming more common.

A. North America is the largest regional market for Prepaid Card

A. The global prepaid card market was valued at $2491.63 billion in 2022 and is projected to reach $14376.17 billion by 2032, growing at a CAGR of 19.5% from 2023 to 2032.

A. American Express Company, Green Dot Corporation, JPMorgan Chase And Co, Kaiku Finance LLC, Mango Financial, Inc., Mastercard, NetSpend Corporation, PayPal Holdings, Inc., Travelex Foreign Coin Services Limited, and Visa Inc.

A. Rise in demand for prepaid cards in remittances Rise in demand for cash alternatives Increase in unbanked and under banked population

A. By end users, the retail establishments segment accounted for the highest prepaid card market share in 2022.

A. The Prepaid Card Market is projected to reach $14376.17 billion by 2032

A. The Prepaid Card Market will expand at a CAGR of 19.5% from 2023 to 2032

A. The U.S. has the highest market share in Prepaid Card

A. These prepaid cards are general purpose reloadable (GPR) cards, which are issued to people who do not qualify for a banking account or cannot afford the fees linked with maintaining the bank account. Furthermore, as prepaid cards are purchased with the user's own money, no interest or annual percentage rate (APR) is associated with their use.

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