Europe Prepaid Card and Digital Wallet Markets, 2016-2021 & 2022-2026: Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

DUBLIN, March 8, 2022 /PRNewswire/ -- The "Europe Prepaid Card and Digital Wallet Business and Investment Opportunities Databook - Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend" report has been added to ResearchAndMarkets.com's offering.

The prepaid card market (value terms) in Europe increased at a CAGR of 8.5% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 10.3%, increasing from US$251.53 billion in 2022 to reach US$372.77 billion by 2026.

According to the Q4 2021 Global Prepaid Cards Market Survey, consumers and retailers have mostly avoided cash transactions due to the fear of spreading the Coronavirus in the last four to six quarters in Europe. The trend has propelled the demand for digital wallets in many European countries.

It was also observed that consumers from the United Kingdom, Germany, France, Italy, and Sweden are getting more influenced to use prepaid cards during this period. Consequently, the publisher expects increasing fundraising activities and innovative product launches by fintech companies in the next four to six quarters in the European prepaid card market.

FinTech companies are raising funds to integrate social banking with prepaid card programs in the United Kingdom

As more and more consumers in the country demand innovative prepaid payment instruments and digital banking services, new startups are emerging and raising funding rounds in the United Kingdom to compete with more established players. 

• In August 2021, Kroo, a London-based social banking startup, raised US$24.5 million in Series A Funding. According to Kroo, the social bank is planning to use the funding to bulk up operations, improve its app, and grow the team before its planned launch in 2022.
• The startup is aiming to allow its users to participate in shared financial activity and back social causes with financial might. Notably, Kroo is planning to test this concept through a prepaid card offering in partnership with PayrNet.

Partnerships are rising to develop digital instant prepaid gift card solution in France

The French e-commerce industry provided an impetus to the usage of gift cards among customers. Consequently, the payment service providers and digital gift card providers are collaborating to provide innovative product solutions to attract more customers. 

• In April 2021, payment services provider, Nets and gift card provider, Gifted, are collaborating to introduce a digital prepaid gift card solution in France.
• With this new offering, consumers can instantly receive the single-use gift card in their wallet.
• Moreover, the merchant customers can also integrate these cards into their regular payments system.

The publisher expects that this new innovative solution is convenient for consumers, but the merchants can also quickly onboard these gift cards into their platform. Therefore, the partnership is expected to capture a more extensive customer base in the short to medium term.

Public transport providers introducing prepaid cards in Germany

With the increasing necessity for contactless payments amid pandemic, the government is taking various initiatives to introduce contactless prepaid cards for reducing cash usage in the country. 

• In October 2021, Germany's public transport company, Berliner Verkehrsbetriebe (BVG), introduced a new method of payment in buses in the form of prepaid cards in Germany.
• The passengers will be able to avail all the bus rides by loading maximum credit of 150 euros on the card and can also be used on all commodities available in BVG customer centers.
• Initially, BVG prepaid cards will be available in the customer centers, which can be loaded there or in the online portal.
• This transit card is not specifically tied to any particular person, and the amount can be withdrawn if not in use.

Fintech companies are partnering with football clubs in Italy to launch prepaid cards for football fans

Various fintech companies are developing innovative products in partnership with football clubs targeting football fans, thereby increasing their customer base. 

• In December 2021, an Italian professional football club based in Rome, AS Roma, has partnered with a British fintech company, REPX, to launch an innovative new prepaid card for Giallorossi fans.
• The Giallorossi prepaid card is specifically designed for the fans to interact with their favorite team. Moreover, the Giallorossi fans can access exclusive offers and get notified about merchandising, buying tickets, also for getting invitations for exclusive events.
• The users of the prepaid card will also get the benefit of transferring money instantly between supporters without any charge.

Scope

Digital Wallet Market Size and Forecast

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction

Digital Wallet Market Size and Forecast by Key Segments

• Retail Shopping (Value, Volume, Avg. Value)
• Travel (Value, Volume, Avg. Value)
• Entertainment and Gaming (Value, Volume, Avg. Value)
• Restaurant (Value, Volume, Avg. Value)
• Recharge and Bill Payment (Value, Volume, Avg. Value)

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

Market Share Analysis by Prepaid Card Categories

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

General Purpose Prepaid Card Market Size and Forecast

Gift Card Market Size and Forecast

Gift Card Market Size and Forecast by Functional Attribute

• By Open Loop Gift Card
• By Closed Loop Gift Card
• 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

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 Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Payroll Prepaid Card Market Size and Forecast

• 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 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 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

Companies Mentioned

• Wesfarmers Ltd
• Woolworths Ltd (Australia)
• Metcash Ltd
• Aldi Group
• Harvey Norman Holdings Ltd
• JB Hi-Fi Ltd
• Apple Inc
• SM Retail Inc
• Puregold Price Club Inc
• Rustan Group of Cos
• Seven & I Holdings Co Ltd
• Hutchison Whampoa Ltd
• Metro AG
• San Miguel Corp
• Salim Group
• Trans Retail Indonesia PT
• Matahari Putra Prima Tbk PT
• Sumber Alfaria Trijaya Tbk PT
• Delhaize Group Sa
• Kompas Gramedia Group
• Ace Hardware Corp
• NTUC FairPrice Co-operative Pte Ltd
• Dairy Farm International Holdings Ltd
• Shen Siong Supermarket Pte Ltd
• Takashimaya Co Ltd
• Mustafa Holdings Pte Ltd
• Courts Asia Ltd
• Al Futtaim Group LLC
• Yamada Denki Co Ltd
• Tesco Plc
• Central Retail Corp
• Home Product Center PCL
• Mall Group Co Ltd, The
• Charoen Pokphand Group
• Alibaba Group Holding Ltd
• JD.com Inc
• Auchan Group SA
• Wal-Mart Stores Inc
• Bailian Group Co Ltd
• Yonghui Superstores Group
• Flipkart Online Services Pvt Ltd
• Tata Group
• Future Group
• Reliance Group
• Amazon.com Inc
• Aditya Birla Group
• K Raheja Corp
• AEON Group
• Lawson Inc
• FamilyMart Co Ltd
• Rakuten Inc
• Isetan Mitsukoshi Holdings Ltd
• Lotte Group
• Shinsegae Co Ltd
• Hyundai Department Store Co Ltd
• GS Holdings Corp
• SK Planet Co Ltd
• BGF Retail Co Ltd
• Costco Wholesale Corp

For more information about this report visit https://www.researchandmarkets.com/r/oezc0n

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