EEA Prepaid Card Market to Garner $500.27 Bn by 2027 at 14.7% CAGR: Allied Market Research

Increase in need for cash alternatives, availability of affordable and energy-efficient prepaid cards, and development of the e-commerce industry have boosted the growth of the EEA prepaid card market.

News provided by

Allied Market Research

Nov 25, 2020, 09:00 ET

PORTLAND, Ore., Nov. 25, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "EEA Prepaid Card Market by Functional Attribute (Open-loop Card and Closed-loop Card), Card Type (General Purpose Card, Gift Card, Government Benefit/Disbursement Card, Payroll Card, and Others), End User (Retail, Corporate, and Government/Public Sector), and Application (Food & Groceries, Pharmacy & Drug Stores, Restaurants & Bars, Consumer Electronics, Media & Entertainment, and Others): Opportunity Analysis and Industry Forecast, 2020–2027". As per the report, the EEA prepaid card industry was pegged at $182.64 billion in 2019, and is expected to reach $500.27 billion by 2027, registering a CAGR of 14.7% from 2020 to 2027.

Drivers, restraints, and opportunities-

Increase in need for cash alternatives, development of the e-commerce industry, and availability of affordable and energy-efficient prepaid cards have boosted the growth of the EEA prepaid card market. However, lack of standardization and fraudulent attacks hinder the market growth. On the contrary, surge in the unbanked and underbanked population would open new opportunities for the market players in the future.

Download Sample Report (265+ Pages PDF): https://www.alliedmarketresearch.com/request-sample/8294

Covid-19 scenario:

As pandemic has severely affected the global economy, several people lost their jobs, which has limited usage of funds in the region.
The need to implement better product offering by providing discounts for prepaid card usage has increased during the Covid-19 pandemic.
Even during Covid-19 pandemic, the financial services industry is highly competitive, which has created huge opportunities for market players to introduce numerous benefits & offers.

The open-loop card segment dominated the market

By functional attribute, the global open-loop card segment held the largest share in 2019, accounting for nearly three-fifths of the EEA prepaid card market, owing to surge in demand for multipurpose prepaid cards. However, the closed-loop card segment is estimated to register the highest CAGR of 16.3% during the forecast period, due to easy accessibility, low risk of frauds, and low-interest charges.

Get detailed COVID-19 impact analysis on the EEA Prepaid Card Market

The retail segment held the largest share

By end user, the retail segment dominated the market in 2019, contributing to more than half of the EEA prepaid card market, due to growing large customer base shifting from traditional shopping to online shopping in various countries of Europe. However, the corporate segment is anticipated to manifest the highest CAGR of 16.5% during the forecast period, as prepaid card is safer than transactions through debit card, credit cards, and checks.

The media & entertainment segment to manifest the highest CAGR through 2027

By application, the media & entertainment segment is estimated to register the highest CAGR of 17.9% during the forecast period, as numerous sports organizations across the globe have adopted prepaid card payment options for reducing major problems for owners such as tickets, pricing & change requirement, reconciliation, transaction times, and improving security. However, the food & groceries segment held the lion's share in 2019, accounting for around one-fourth of the EEA prepaid card market, due to its numerous benefits such as improved operational efficiencies, better customer satisfaction, upsurge the revenue, and lower operating cost.

Interested? Enquire For More: https://www.alliedmarketresearch.com/purchase-enquiry/8294

Major market players

American Express Company
JPMorgan Chase & Co.
Kaiku Finance, LLC.
IDT Financial Services Limited
Moneycorp
H&R Block, Inc.
Mango Financial, Inc.
Payoneer Inc.
PayPal Holdings, Inc.
Netspend

Access AVENUE - A Subscription-Based Library (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Latest Reports:

Prepaid Card Market by Card Type (Open Loop Prepaid Card and Closed Loop Prepaid Card), Usage (General-purpose Reloadable Card, Gift Card, Government Benefit/Disbursement Card, Payroll Card, and Others), and End User (Retail, Corporate Institutions, Government, and Financial Institutions): Global Opportunity Analysis and Industry Forecast, 2020–2027

Corporate Banking Market by Service (Corporate & Salary Accounts, Credit Services & Loans, Cash Management Services, Short-term Funding, and Others) and End User (Large Enterprises and Small & Medium-sized Enterprises): Global Opportunity Analysis and Industry Forecast, 2020–2027

Revenue Based Financing Market by Distribution Mode (Online and Offline), Enterprise Size (Micro Enterprises, Small Enterprises and Medium-sized Enterprises), and Industry Vertical (IT & Telecom, Retail, Consumer Goods, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast 2020-2027

Equity Funds Market by Type (Large Cap Funds, Mid Cap Funds, Small Cap Funds, and Others) and End User (Individuals, Corporate Institutions, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

Investment Banking Market by Service Type (Debt Capital Markets Underwriting, Mergers & Acquisitions Advisory, Equity Capital Markets Underwriting, Syndicated Loans, and Others) and End User (Individuals and Corporate Institutions): Global Opportunity Analysis and Industry Forecast, 2020–2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com