Market Overview:
The global prepaid card market is expected to grow from USD 1,362.8 billion in 2018 to USD 2,746.5 billion by 2030, at a CAGR of 10.4% during the forecast period. The growth of the market can be attributed to the increasing demand for convenience and security while making payments and rising trend of cashless transactions. Based on type, the open-loop prepaid card segment is expected to account for the largest share of the global prepaid card market in 2018. Open-loop prepaid cards are reloadable and can be used at any merchant that accepts debit cards worldwide. These cards are also accepted as forms of payment by various government agencies for benefits such as unemployment insurance, social security benefits, etc., which is driving their adoption among consumers worldwide. Based on application, personal use is expected to account for the largest share of the global prepaid card market in 2018 owing to its growing popularity among consumers across different regions for making day-to-day payments such as bills and groceries shopping without having to carry cash around with them or worry about losing it or being robbed thereof .
Product Definition:
A prepaid card is a type of debit card. It is a plastic payment card that lets you load funds onto it before using it to purchase items or withdraw cash. Prepaid cards can be used anywhere debit cards are accepted.
Open-loop Prepaid Card:
An open-loop prepaid card is a type of payment card that enables the holder to load or top up the balance on the card using cash, check, or electronic funds. The main function of an open-loop Prepaid Card is to enable its users for making payments without having to carry physical currency. These cards are issued by banks and other financial institutions and can be used at any merchant that accept plastic cards as payment.
Closed-loop Prepaid Card:
Closed-loop Prepaid Card is a type of payment card that enables consumers to make purchases using a pre-loaded debit or credit balance. The card works like a debit or credit card and allows the user to make purchases online as well as in stores. These cards are issued by banks, which can be used like any other plastic cards for making payments.
Application Insights:
The others application segment includes healthcare, transportation, and utilities. The personal application segment held the largest share of more than 60.0% in 2017. This is due to the increasing adoption of these cards for shopping, dining out and entertainment among other uses by individuals across various geographies including North America and Europe. In addition to this, several retailers are offering discounts on purchases made using such cards which encourages its usage for making payments or purchasing goods/services abroad as well as within a country thereby contributing towards its growth globally.
The enterprise application segment is expected to witness significant growth over the forecast period owing to their wide-scale adoption in order to facilitate easy payment processing while ordering supplies or services from external vendors particularly from suppliers located outside of the organization¢â‚¬â„¢s network (i.e., off-shore suppliers).
Regional Analysis:
The Asia Pacific region dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing adoption of mobile payments, high smartphone penetration, and rapid digitalization across economies including China, India, Singapore, South Korea. Moreover rising government initiatives such as Digital India are creating new opportunities for industry players in this region. For instance; In April 2015; Government of India’s initiative called “UPAY†was launched to promote cashless transactions through open-loop Prepaid Cards used for electronic payment applications such as online shopping malls/ e-commerce websites etc.; closed-loop Prepaid Card used for making purchases at POS terminals & ATMs etc.; Reloadable Prepaid Card used for topping up funds by depositing minimum amount at any ATM or from any bank account using internet banking or phone banking applications; Payroll card used by employers to pay wages into employee's account every month).
Growth Factors:
- Increasing demand for convenience and security: The prepaid card market is growing rapidly as consumers seek greater convenience and security in their payment options. Prepaid cards offer a number of advantages over traditional payment methods, including the ability to control spending, avoid overdraft fees, and build credit history.
- Proliferation of mobile payments: As consumers shift away from traditional forms of payment such as cash and checks, the prepaid card market is benefiting from the growth of mobile payments. With more people using smartphones to make purchases online and in-store, there is an increasing demand for prepaid cards that can be used with Apple Pay, Android Pay, Samsung Pay, etc.
- Rise in popularity of rewards programs: A growing number of consumers are signing up for prepaid cards that offer rewards programs such as cash back or travel points. This has helped fuel the growth of the prepaid card market as consumers look for ways to save money on their everyday expenses.
Scope Of The Report
Report Attributes
Report Details
Report Title
Prepaid Card Market Research Report
By Type
Open-loop Prepaid Card, Closed-loop Prepaid Card, Reloadable Prepaid Card, Payroll Card, Government Benefit Card
By Application
Personal, Enterprise, Government, Others
By Companies
Visa, MasterCard, UnionPay, American Express, JCB, Discover, Walmart, Bank of America, Apple Inc, Wells Fargo, Paypal, West Union, Kaiku, AccountNow, NetSpend, AT&T, T-Mobile, Verizon
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Prepaid Card Market Report Segments:
The global Prepaid Card market is segmented on the basis of:
Types
Open-loop Prepaid Card, Closed-loop Prepaid Card, Reloadable Prepaid Card, Payroll Card, Government Benefit Card
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Personal, Enterprise, Government, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Visa
- MasterCard
- UnionPay
- American Express
- JCB
- Discover
- Walmart
- Bank of America
- Apple Inc
- Wells Fargo
- Paypal
- West Union
- Kaiku
- AccountNow
- NetSpend
- AT&T
- T-Mobile
- Verizon
Highlights of The Prepaid Card Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Open-loop Prepaid Card
- Closed-loop Prepaid Card
- Reloadable Prepaid Card
- Payroll Card
- Government Benefit Card
- By Application:
- Personal
- Enterprise
- Government
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Prepaid Card Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A prepaid card is a plastic card that can be used to purchase goods and services. The cardholder loads the funds onto the card, which can then be used at any time.
Some of the key players operating in the prepaid card market are Visa, MasterCard, UnionPay, American Express, JCB, Discover, Walmart, Bank of America, Apple Inc, Wells Fargo, Paypal, West Union, Kaiku, AccountNow, NetSpend, AT&T, T-Mobile, Verizon.
The prepaid card market is expected to register a CAGR of 10.4%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Prepaid Card Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Prepaid Card Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Prepaid Card Market - Supply Chain
4.5. Global Prepaid Card Market Forecast
4.5.1. Prepaid Card Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Prepaid Card Market Size (000 Units) and Y-o-Y Growth
4.5.3. Prepaid Card Market Absolute $ Opportunity
5. Global Prepaid Card Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Prepaid Card Market Size and Volume Forecast by Type
5.3.1. Open-loop Prepaid Card
5.3.2. Closed-loop Prepaid Card
5.3.3. Reloadable Prepaid Card
5.3.4. Payroll Card
5.3.5. Government Benefit Card
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Prepaid Card Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Prepaid Card Market Size and Volume Forecast by Application
6.3.1. Personal
6.3.2. Enterprise
6.3.3. Government
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Prepaid Card Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Prepaid Card Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Prepaid Card Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Prepaid Card Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Prepaid Card Demand Share Forecast, 2019-2026
9. North America Prepaid Card Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Prepaid Card Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Prepaid Card Market Size and Volume Forecast by Application
9.4.1. Personal
9.4.2. Enterprise
9.4.3. Government
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Prepaid Card Market Size and Volume Forecast by Type
9.7.1. Open-loop Prepaid Card
9.7.2. Closed-loop Prepaid Card
9.7.3. Reloadable Prepaid Card
9.7.4. Payroll Card
9.7.5. Government Benefit Card
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Prepaid Card Demand Share Forecast, 2019-2026
10. Latin America Prepaid Card Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Prepaid Card Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Prepaid Card Market Size and Volume Forecast by Application
10.4.1. Personal
10.4.2. Enterprise
10.4.3. Government
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Prepaid Card Market Size and Volume Forecast by Type
10.7.1. Open-loop Prepaid Card
10.7.2. Closed-loop Prepaid Card
10.7.3. Reloadable Prepaid Card
10.7.4. Payroll Card
10.7.5. Government Benefit Card
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Prepaid Card Demand Share Forecast, 2019-2026
11. Europe Prepaid Card Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Prepaid Card Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Prepaid Card Market Size and Volume Forecast by Application
11.4.1. Personal
11.4.2. Enterprise
11.4.3. Government
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Prepaid Card Market Size and Volume Forecast by Type
11.7.1. Open-loop Prepaid Card
11.7.2. Closed-loop Prepaid Card
11.7.3. Reloadable Prepaid Card
11.7.4. Payroll Card
11.7.5. Government Benefit Card
11.8. Bsis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Prepaid Card Demand Share, 2019-2026
12. Asia Pacific Prepaid Card Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Prepaid Card Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Prepaid Card Market Size and Volume Forecast by Application
12.4.1. Personal
12.4.2. Enterprise
12.4.3. Government
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Prepaid Card Market Size and Volume Forecast by Type
12.7.1. Open-loop Prepaid Card
12.7.2. Closed-loop Prepaid Card
12.7.3. Reloadable Prepaid Card
12.7.4. Payroll Card
12.7.5. Government Benefit Card
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Prepaid Card Demand Share, 2019-2026
13. Middle East & Africa Prepaid Card Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Prepaid Card Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Prepaid Card Market Size and Volume Forecast by Application
13.4.1. Personal
13.4.2. Enterprise
13.4.3. Government
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Prepaid Card Market Size and Volume Forecast by Type
13.7.1. Open-loop Prepaid Card
13.7.2. Closed-loop Prepaid Card
13.7.3. Reloadable Prepaid Card
13.7.4. Payroll Card
13.7.5. Government Benefit Card
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Prepaid Card Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Prepaid Card Market: Market Share Analysis
14.2. Prepaid Card Distributors and Customers
14.3. Prepaid Card Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Visa
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. MasterCard
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. UnionPay
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. American Express
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. JCB
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Discover
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Walmart
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Bank of America
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Apple Inc
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Wells Fargo
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Paypal
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. West Union
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Kaiku
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. AccountNow
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. NetSpend
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. AT&T
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. T-Mobile
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Verizon
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
