Dublin, Nov. 29, 2023 (GLOBE NEWSWIRE) — The “Prepaid Cards – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Prepaid Cards Market to Reach $4.1 Trillion by 2030
The global market for Prepaid Cards estimated at US$1.9 Trillion in the year 2022, is projected to reach a revised size of US$4.1 Trillion by 2030, growing at a CAGR of 10.2% over the analysis period 2022-2030.
It includes recent, current, and future assessments of prepaid cards, closed-loop cards, and open-loop cards. The data covers annual gross values in US$ millions for the years 2014 through 2030, along with percentage CAGR figures. Additionally, it offers a 16-year perspective, highlighting the value breakdown for the years 2014, 2023, and 2030.
Closed Loop, one of the segments analyzed in the report, is projected to record 10% CAGR and reach US$2.3 Trillion by the end of the analysis period. Growth in the Open Loop segment is estimated at 10.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $665.7 Billion, While China is Forecast to Grow at 14% CAGR
This analysis provides an overview of the global prepaid cards market, focusing on various geographic regions such as the USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa. This comprehensive analysis aims to shed light on the trends and dynamics within the prepaid cards market over the specified time frame.
The Prepaid Cards market in the U.S. is estimated at US$665.7 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$648.7 Billion by the year 2030 trailing a CAGR of 14% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1% and 9.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.3% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 691 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $1.9 Trillion |
| Forecasted Market Value (USD) by 2030 | $4.1 Trillion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
MARKET OVERVIEW
- COVID-19: A Panic Button for Banks & Fintechs and Boon for Cashless Payments & Prepaid Cards
- Global Efforts to Go Cashless Provides Policy Led Support for the Evolution of Digital Banking
- Spurred by the Pandemic & Its Low Touch Norm, Rapid Progress Towards a Cashless Society Provides Opportunities on a Platter for Digital Banking Technologies & Services: Global Volume of Non-Cash Transactions (In Billion) for the Years 2018, 2020 & 2022
- Pandemic Portends Noteworthy Transition towards Prepaid & Payroll Cards
- Interesting Array of Contactless Payment Trends in Wake of COVID-19
- Strategies Implemented by Billers to Support Customer Payments
- Prepaid Cards – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- A Prelude to Prepaid Cards
- Comparison between Credit Card, Debit Card and Prepaid Card
- Market Segments
- Types of Prepaid Cards
- Advantages and Disadvantages of Prepaid Cards
- Global Market Prospects & Outlook
- Share of Prepaid in the Overall Payments by Geographic Region: 2019
- Addressing the Needs of the Unserved/Underserved: A Major Market Driver
- Improved Efficiencies and Transparency Drives Inclusion of Prepaid Cards in Commercial Programs
- Breaking Barriers to Ensure Broader Uptake of Digital Payments among Consumers
- Key Growth Factors
- Key Market Restraints
- Analysis by Geographic Region
- Analysis by Segment
- World Prepaid Cards Market by Type (2021 & 2027): Percentage Breakdown of Gross Value for Closed Loop and Open Loop
- Competitive Scenario
- An Insight into the Prepaid Card Value Chain
- Prepaid Value Chain: Role and Revenue Driver by Category
- Evolving Prepaid Value Chain amidst Changing Environment
- Recent Market Activity
- Select Global Brands
MARKET TRENDS & DRIVERS
- Prepaid Cards: A Brighter Prospect in Cards amid Growing Digital Payments
- COVID-19 Catalyzes Adoption of Digital Payments
- Banks Go the Prepaid Way
- Unbanked and Underbanked Consumers: Evolving as a Potential Market
- Top Factors Cited as Barrier to Account Ownership: % of Adults Citing the Reason for Being Unbanked
- Urban Sprawl Encourages a Positive Tide
- Prepaid Eye the Upmarket
- Gaining Popularity among Millennials
- Consumer Shift from Cash to Card Based Purchase Transactions Propels Demand
- Robust Rise of e-Commerce & m-Commerce to Support Market Growth
- Pandemic Fast Forwards eCommerce Growth
- Market Gains from Increased Retailer Acceptance of Card Based Payments
- Virtual Prepaid Payment Cards: Next Generation of Prepaid
- Prepaid Cards Offer Stiff Competition to Debit Cards
- Prepaid Payroll Cards Expected to Witness Robust Growth
- Retailer Specific-Prepaid Cards Gain Popularity in Developed Markets
- Impact of Pandemic on Retail & Restaurant Industries: What’s the New Normal?
- Innovations Sustain Growth in Gift Cards Market
- Retailers Eye Gift Cards to Build Loyal Customers
- Growing Focus on Employee Rewards & Recognition to Spur Demand for Gift Cards
- Why Companies Bet on Employee Rewards & Recognition?
- Gift Cards: A Compelling Employee Reward Option
- Advantages of Gift Cards for Employee Rewards & Recognition Program
- Cohesive and Innovative Strategies: Key to Success of Gift Card Programs in Retail
- Ease of Handling Drives Use of Digital Gift Cards for Incentives and Rewards Applications
- Gift-Giving Etiquette Ingrained Into Our Culture Provides the Cornerstone for the Growth of the Gift Card Industry
- Omni-channel Shopping is Here to Stay
- Prepaid Travel Cards Grab Eyeballs
- Fueled by High Uptake and Technological Progress, Prepaid Cards Hold Rosier Future
- Chip Technology Makes Way into Prepaid Cards for Enhanced Security
- Prepaid Cards Provides Hope for Better Travel Insurance Services
- Challenges & Issues
- Dearth of Consumer Awareness: A Major Challenge
- High and Non-Standard Fees – A Major Hindrance to Growth
- Need for Regulatory Tabs
- Increasing Frauds and Abetting Criminal Activity – The Achilles’ Heel of Prepaid Cards Business
FOCUS ON SELECT PLAYERS(Total 259 Featured)
- AT&T, Inc.
- Bank of America, N.A.
- ADP, Inc.
- Amadeus IT Group SA
- Axis Bank Ltd.
- American Express Company
- allpay Ltd.
- Bankable
- Allied Wallet
- AsiaPay Limited
- Axios Credit Bank
- Bitsa
- ABNB Federal Credit Union
- ANGEL Mastercard
- Allpoint Network
For more information about this report visit https://www.researchandmarkets.com/r/ftmz4u
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