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The global prepaid card market was valued at USD 2081.11 Billion in 2022 and grew at a CAGR of 16.21% from 2023 to 2032. The market is expected to reach USD 9348.24 Billion by 2032. The increasing demand for prepaid cards can be attributed to the growth of the e-commerce and retail industry. These prepaid cards enable the consumer to make cashless transactions.
A prepaid card is a card that can be used to make purchases with the money that the consumers pre-load onto the prepaid card account. A prepaid card is not linked to a bank's checking account or a credit union's share draft account. The card can be used to spend up to the pre-loaded amount. Prepaid cards are sometimes known as prepaid debit cards or stored-value cards. Prepaid cards are available in a variety of stores and online. After the amount has been exhausted or used, the card owner can reload it with money. Reloadable prepaid cards include several ways for depositing monies into the card's balance, including direct deposit and bank-to-bank transfer.
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Increasing use of prepaid cards: Prepaid cards are a reasonably straightforward way to pay for purchases without opening a credit line or opening a bank account. Prepaid cards can be a useful alternative for parents who wish to offer their children spending money without handing them cash, which they can easily lose and never get back. As overspending on debit or credit cards may be financially costly and harm their credit, a prepaid card can be a safer alternative for some consumers. The other types of plastic, such as debit or credit cards, can make it easy to spend more than the client has budgeted for and impose overdraft penalties. By denying purchases exceeding the client’s account balance, a prepaid card pushes them to stay within a budget.
High fees: Cardholders may be subject to various costs, such as activation fees, ATM withdrawal fees, transaction fees, monthly fees, reloading fees, or inactivity fees. These fees limit the use of prepaid cards among the end consumers compared to debit and credit cards.
Rising number of cashless transactions: With abundant innovation in the market, cashless transactions have expanded tenfold. Many customers increasingly prefer to buy from internet retailers rather than physical stores. Consumers can now make practically all transactions digitally, not only with shops. Cash usage has decreased as a result of the shift to cashless transactions. Covid-19 fueled the market for digital transactions. People were no longer making cashless payments for convenience; they were doing it for safety. Consumers turned to digital payments due to the pandemic, and their behaviour has been permanently altered.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant prepaid card market, with a 38.17% market revenue share in 2022.
North America region will account for the largest market share with revenue growth. Nations such as the U.S., Canada and Mexico have a tremendous demand for prepaid cards due to the growth of the e-commerce and retail industries. The favourable government regulations are promoting the use of prepaid cards, especially in consumers of younger demographics.
North America Region Prepaid Card Market Share in 2022 - 38.17%
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The card type segment is divided into closed loop and open loop. The open loop segment dominated the market, with a share of around 71.92% in 2022. An open-loop card is a charge card that can be used anywhere a particular brand of card is accepted. It is typically imprinted with the card brand or network logo, such as MasterCard, Visa, American Express, etc.
The offering segment is divided into gift cards, general purpose cards, incentive cards, disbursement cards and others. The general-purpose card segment dominated the market, with a share of around 48.95% in 2022. Prepaid cards are specially used for general purposes by budget-conscious consumers. People mostly use it for making general day-to-day transactions.
The end-users segment is divided into financial institutions, retail, corporate, and government. The retail segment dominated the market, with a share of around 49.11% in 2022. Prepaid cards are used mostly in retail channels such as convenience stores, hypermarkets, and supermarkets. Most consumers budget their retail purchases and thus use prepaid cards in such stores.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 2081.11 Billion |
| Market size value in 2032 | USD 9348.24 Billion |
| CAGR (2023 to 2032) | 16.21% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Card Type, Offering and End-users |
As per The Brainy Insights, the size of the prepaid card market was valued USD 2081.11 billion in 2022 to USD 9348.24 billion by 2032.
Global prepaid card market is growing at a CAGR of 16.21% during the forecast period 2023-2032.
North America region emerged as the largest market for the prepaid card.
The market's growth will be influenced by the rising use of prepaid card.
The high fees can hamper the market growth.
The rising number for cashless transactions is providing huge opportunities to the market.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Card Type
4.3.2. Market Attractiveness Analysis by Offering
4.3.3. Market Attractiveness Analysis by End-users
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing use of prepaid cards
5.3. Restraints
5.3.1. High fees
5.4. Opportunities
5.4.1. Growing number of digital transactions
5.5. Challenges
5.5.1. Lack of standardization
6. Global Prepaid Card Market Analysis and Forecast, By Card Type
6.1. Segment Overview
6.2. Closed Loop
6.3. Open Loop
7. Global Prepaid Card Market Analysis and Forecast, By Offering
7.1. Segment Overview
7.2. Gift Card
7.3. General Purpose Card
7.4. Incentive Card
7.5. Disbursement Card
7.6. Other
8. Global Prepaid Card Market Analysis and Forecast, By End-users
8.1. Segment Overview
8.2. Financial Institutions
8.3. Retail
8.4. Corporate
8.5. Government
9. Global Prepaid Card Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Prepaid Card Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Prepaid Card Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. American Express Company
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Visa, Inc.
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Kaiku Finance, LLC
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. MasterCard Inc.
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. Mango Financial, Inc.
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Citigroup
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Total System Services, Inc.
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. BVA Compass Bancshares, Inc.
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. The PNC Financial Services Group, Inc.
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. H&R Block Inc.
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. Green Dot Corporation
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Product Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
11.12. JPMorgan Chase & Co.
11.12.1. Business Overview
11.12.2. Company Snapshot
11.12.3. Company Market Share Analysis
11.12.4. Company Product Portfolio
11.12.5. Recent Developments
11.12.6. SWOT Analysis
11.13. PayPal Holdings, Inc.
11.13.1. Business Overview
11.13.2. Company Snapshot
11.13.3. Company Market Share Analysis
11.13.4. Company Product Portfolio
11.13.5. Recent Developments
11.13.6. SWOT Analysis
11.14. NetSpend Holdings, Inc.
11.14.1. Business Overview
11.14.2. Company Snapshot
11.14.3. Company Market Share Analysis
11.14.4. Company Product Portfolio
11.14.5. Recent Developments
11.14.6. SWOT Analysis
11.15. UniRush, LLC
11.15.1. Business Overview
11.15.2. Company Snapshot
11.15.3. Company Market Share Analysis
11.15.4. Company Product Portfolio
11.15.5. Recent Developments
11.15.6. SWOT Analysis
11.15.7. Recent Developments
List of Table
1. Global Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
2. Global Closed Loop, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
3. Global Open Loop, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
4. Global Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
5. Global Gift Card, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
6. Global General Purpose Card, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
7. Global Incentive Card, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
8. Global Disbursement Card, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
9. Global Others, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
10. Global Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
11. Global Financial Institutions, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
12. Global Retail, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
13. Global Corporate, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
14. Global Government, Prepaid Card Market, By Region, 2019-2032 (USD Billion)
15. Global Prepaid Card Market, By Region, 2019-2032 (USD Billion)
16. North America Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
17. North America Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
18. North America Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
19. U.S. Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
20. U.S. Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
21. U.S. Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
22. Canada Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
23. Canada Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
24. Canada Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
25. Mexico Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
26. Mexico Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
27. Mexico Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
28. Europe Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
29. Europe Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
30. Europe Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
31. Germany Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
32. Germany Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
33. Germany Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
34. France Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
35. France Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
36. France Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
37. U.K. Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
38. U.K. Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
39. U.K. Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
40. Italy Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
41. Italy Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
42. Italy Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
43. Spain Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
44. Spain Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
45. Spain Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
46. Asia Pacific Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
47. Asia Pacific Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
48. Asia Pacific Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
49. Japan Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
50. Japan Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
51. Japan Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
52. China Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
53. China Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
54. China Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
55. India Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
56. India Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
57. India Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
58. South America Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
59. South America Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
60. South America Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
61. Brazil Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
62. Brazil Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
63. Brazil Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
64. Middle East and Africa Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
65. Middle East and Africa Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
66. Middle East and Africa Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
67. UAE Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
68. UAE Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
69. UAE Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
70. South Africa Prepaid Card Market, By Card Type, 2019-2032 (USD Billion)
71. South Africa Prepaid Card Market, By Offering, 2019-2032 (USD Billion)
72. South Africa Prepaid Card Market, By End-users, 2019-2032 (USD Billion)
List of Figures
1. Global Prepaid Card Market Segmentation
2. Prepaid Card Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Prepaid Card Market Attractiveness Analysis by Card Type
9. Global Prepaid Card Market Attractiveness Analysis by Offering
10. Global Prepaid Card Market Attractiveness Analysis by End-users
11. Global Prepaid Card Market Attractiveness Analysis by Region
12. Global Prepaid Card Market: Dynamics
13. Global Prepaid Card Market Share by Card Type (2022 & 2032)
14. Global Prepaid Card Market Share by Offering (2022 & 2032)
15. Global Prepaid Card Market Share by End-users (2022 & 2032)
16. Global Prepaid Card Market Share by Regions (2022 & 2032)
17. Global Prepaid Card Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global prepaid card market based on below mentioned segments:
Global Prepaid Card Market by Card Type:
Global Prepaid Card Market by Offering:
Global Prepaid Card Market by End-users:
Global Prepaid Card Market by Region:
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