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

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Mar 28, 2024, 18:00 ET

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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