Africa & Middle East Prepaid Cards Market Report 2021: Global Prepaid Card Processing Platforms Expanding Operations in the Region - ResearchAndMarkets.com
Over the last few quarters, prepaid cards have emerged as a valuable alternative to cash for consumers in Africa and the Middle East region.
The "Africa & Middle East Prepaid Cards Business and Investment Opportunities - Market Size and Forecast (2016-2025), Consumer Attitude & Behaviour, Retail Spend, Market Risk" report has been added to ResearchAndMarkets.com's offering.
Over the last few quarters, prepaid cards have emerged as a valuable alternative to cash for consumers in Africa and the Middle East region.
The growth in the adoption of prepaid card payment methods in this region is primarily because of the rise in technology-driven products and services. Moreover, governments are persuading the consumers in the region to use cashless payment methods such as digital and mobile wallets, thereby supporting the growth of prepaid cards in the region.
Prepaid cards are also gaining increasing adoption among consumers who do not have a good credit score or an existing bank account in the region. Moreover, prepaid cards are also gaining growing traction among students, expatriate workers, and blue-collar service providers, as the payment solution offers a range of services such as sending remittances, payroll processing, gifting, government benefit disbursement, and several others.
Global prepaid card processing platforms expanding operations in the region:
As more and more consumers shifting towards prepaid cards and digital payment solutions in the region, global prepaid card processing platforms are expanding their services and investing in this region. For instance:
In July 2021, QPS Global, the Indian FinTech firm, announced that the firm is planning to expand its services for consumers in the Middle East and will invest a total of US$10 million for its expansion. Notably, the firm has also secured a deal of issuing 2.3 million prepaid cards across the Middle Eastern market. Similarly, CoreCard, the US-based card processing platform, also announced its expansion in Africa and the Middle East region in October 2020.
FinTech platforms launching innovative prepaid card solutions in Africa and the Middle East region:
Across the Middle East countries, FinTech startups are innovating with their product offerings and are launching innovative prepaid card solutions for consumers in their respective regions. For instance:
In September 2021, Thawani Technologies, a FinTech startup based in Oman, announced the launch of an innovative prepaid card for consumers in the country. The Thawani Mojab Prepaid Card, which is connected to the virtual wallet offered by the firm, allows users to make local and international payments.
Notably, the firm launched the prepaid payment card in a strategic partnership with BankDhofar and Visa. The first of its kind and innovative prepaid card solution does not include any banking information on the plastic card. For instance, it is a numberless Visa prepaid card that does have a CVV code as well.
Scope:
Prepaid Card Industry Market Attractiveness
- Load Value Trend Analysis
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Market Share Analysis by Functional Attributes - Open Loop vs. Closed Loop, 2016 - 2025
Open Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Prepaid Card Consumer Usage Trends
- By Age Group
- By Income Group
- By Gender
General Purpose Prepaid Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
- By Open Loop Gift Card
- By Closed Loop Gift Card
Gift Card Market Size and Forecast by Consumer Segments
- By Retail Consumer Segment
- By Corporate Consumer Segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location
Entertainment and Gaming Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
- By Open Loop Teen and Campus Prepaid Card
- By Closed Loop Teen and Campus Prepaid Card
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Meal Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
- By Retail
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Transit and Tolls Prepaid Card Market Size and Forecast
Healthcare and Wellness Prepaid Card Market Size and Forecast
Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
Fuel Prepaid Cards Market Size and Forecast
Utilities, and Other Prepaid Cards Market Size and Forecast
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