Prepaid Cards Global Market Outlook Report 2024 - Unbanked and Underbanked Consumers Evolving as a Potential Market

DUBLIN, March 28, 2024 /PRNewswire/ -- The "Prepaid Cards - Global Strategic Business Report" has been added to  ResearchAndMarkets.com's offering.

The global market for Prepaid Cards estimated at US$2 Trillion in the year 2023, is projected to reach a revised size of US$4.1 Trillion by 2030, growing at a CAGR of 9% over the analysis period 2023-2030.

Closed Loop Prepaid Cards, one of the segments analyzed in the report, is projected to record 8.8% CAGR and reach US$2.3 Trillion by the end of the analysis period. Growth in the Open Loop Prepaid Cards segment is estimated at 9.3% CAGR for the next 8-year period.

The Prepaid Cards market in the U.S. is estimated at US$726.5 Billion in the year 2023. 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 12.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 8.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.

Key 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
• 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
• 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

Key Report Features

• Full access to influencer engagement stats
• Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
• Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
• Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
• Complimentary report updates for one year
• Competitor coverage with global market shares of major players
• Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
• Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

The report covers 250+ key competitors in the industry.  

A selection of featured companies include:

• 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

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Prepaid Cards - Global Key Competitors Percentage Market Share in 2023 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (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
• 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
• World Prepaid Cards Market by Region: Percentage Breakdown of Gross Value for Developed and Developing Regions (2024 & 2030)
• World Prepaid Cards Market - Geographic Regions Ranked by CAGR (Value) for 2024-2030: China, Asia-Pacific, Latin America, Canada, Middle East, USA, Europe, Japan and Africa
• Analysis by Segment
• World Prepaid Cards Market by Type (2024 & 2030): 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

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

• United States
• Canada
• Japan
• China
• Europe
• France
• Germany
• Italy
• United Kingdom
• Spain
• Russia
• Rest of Europe
• Asia-Pacific
• Australia
• India
• South Korea
• Rest of Asia-Pacific
• Latin America
• Argentina
• Brazil
• Mexico
• Rest of Latin America
• Middle East
• Iran
• Israel
• Saudi Arabia
• United Arab Emirates
• Rest of Middle East
• Africa

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/8gzxkn

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