Cart
0

Prepaid Card Market Expected to Reach $3,653 Billion, Globally, by 2022

 
 

quote Higher preference of prepaid cards to bank account cards has attributed to cost-effectiveness and flexibility. Moreover, increase in awareness and convenience of these cards enhance the adoption of prepaid cards. Furthermore, emerging applications & acceptance of these prepaid cards for various transactions and increasing popularity among individuals traveling abroad are expected to boost the market growth in the future quote

Yogiata Sharma
Research Analyst, BFSI Research at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:        facegplus_ntwit_npr_npr_n
 

A new report published by Allied Market Research, titled, Prepaid Card Market by Card Type (Single-Purpose Prepaid Card, Multi-Purpose Prepaid Card), Usage (General-Purpose Reloadable Card, Gift Card, Government Benefits/Disbursement Card, Incentive/Payroll Card and Others), and Industry Vertical (Retail Establishments, Corporate Institutions, Government & Financial Institutions, and Others)-Global Opportunity Analysis and Industry Forecast, 2014-2022, projects that the global prepaid card market is anticipated to reach $3,653 billion by 2022, registering a CAGR of 22.7% from 2016 to 2022. Europe dominates the global market in terms of revenue, accounting for more than 49.1% share of the global market, followed by Asia-Pacific.

Access Full Summary at : https://www.alliedmarketresearch.com/prepaid-card-market

Prepaid cards are widely used across various industry verticals such as corporate institutions, retailers, government, and financial institutions. Presently, factors such as increase in awareness & ease of access and surge in the number of internet users & booming e-commerce industry drive the market growth. Moreover, growth in unbanked and underbanked population and emergence of new applications are expected to present lucrative opportunities to market players.

The market is expected to grow at a significant rate in Europe and Asia-Pacific, owing to increase in demand for cash alternatives, rise in adoption of prepaid cards in retail establishments & government sectors, and widespread awareness of the benefits of prepaid cards among the populace. The prepaid card market in Europe is driven by rise in demand for smart cards and increased adoption of prepaid cards for easy payment.

Other developing and emerging regions, such as Asia-Pacific, Latin America, and Africa, are expected to grow during the forecast period, owing to increase in demand for electronic payment and growth of unbanked & underbanked population. Countries such as Japan, China, and India dominated the global prepaid card market in the Asia-Pacific region during 2015-2016. India is one of the emerging markets in the Asia-Pacific prepaid card market, accounting for 8.0% of the Asia-Pacific prepaid card market. It is estimated to register the highest CAGR of around 37.2% from 2016 to 2022

Single-purpose prepaid card segment dominated the global prepaid card market in 2015, and is expected to maintain this trend throughout the forecast period. However, Multi-purpose prepaid card segment is expected to witness significant growth in the future, owing to the easy of accessibility and flexibility.

The general-purpose reloadable card segment is projected to maintain its dominance in the global prepaid card market, as these cards are used across various industry vertical such as financial institutions, government, and others. Moreover, gift card segment is expected to grow, as it is commonly issued by vendors or banks for use as an alternative to cash for purchases at particular stores or related businesses.

Key Findings of the Prepaid Card Market

  • In 2014, the single-purpose card segment dominated the global prepaid card market in terms of revenue, and is projected to grow at a CAGR of 21.6% during the forecast period
  • The general purpose reloadable card segment dominated the global prepaid card market, accounting for about 37.7% share in 2014.
  • The retail establishment segment is expected to exhibit the fastest growth during the forecast period.
  • China is the major shareholder in the Asia-Pacific prepaid card market, accounting for about 69.0% share.

The major players profiled in this report include American Express Company, Visa Inc. Mastercard Incorporated, PayPal Holdings, Inc., Kaiku Finance, LLC., The Western Union Company, Green Dot Corporation, NetSpend Holding Inc., JP Morgan Chase & Co., and AccountNow Inc. to The major players profiled in this report include Green Dot Corporation, NetSpend Holdings, Inc., H&R Block Inc., American Express Company, JPMorgan Chase & Co., PayPal Holdings, Inc., BBVA Compass Bancshares, Inc., Mango Financial, Inc., UniRush, LLC, and Kaiku Finance LLC.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1⟨855⟩ 550-5975

pr-det-phone help@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Prepaid Card Market by Card Type (Single-purpose prepaid card, and Multi-purpose prepaid card), Usage (General-Purpose Reloadable Card, Gift Card, Government Benefits/Disbursement Card, Incentive/Payroll Card), Industry Vertical (Retail Establishments, Corporate Institutions, Government, Financial Institutions) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022 quote

 
 

Why Allied Market Research

 

Infallible Methodology

To ensure high level data integrity, accurate analysis and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to eliminate redundant information to provide valued information and save time of the reader

 

Featured Readings

 
rep-img

Published Date May 2018

Bioplastics Market

Download Sample
rep-img

Published Date May 2018

Painting Robots Market

Download Sample
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interest you.

 
Get Industry Data Alerts