Forex Cards Market By Type (Multi-currency Forex Card, Single Currency Forex Card), By Industry Vertical (Hospitality, Consumer Goods, Education, Others), By End User (Businesses, Individuals): Global Opportunity Analysis and Industry Forecast, 2021-2031
A forex card is a type of prepaid card in which the cardholder can load money in foreign currency. It is globally accepted, and users can either pay for their expenses using their forex card or withdraw cash in foreign currency at an ATM. A forex card is one of the easiest ways of carrying foreign currency when the user is travelling abroad. It can be used as a prepaid card which the can load with several popular currencies such as USD, EUR, CAD, GBP, AED, SGD and others. Once loaded, the card can then be used just like a debit card to pay for all the travel expenses in the local currency of the place the card holder is visiting.
Surge in tourism has led to the rise of adoption of forex card among users. In addition, forex cards protects users from fluctuations in foreign currency prices. Moreover, it protects users from paying additional charges while making transactions in a foreign country. Therefore, these are the major driving factors for the growth of the market. However, forex card charge ATM withdrawal charges while withdrawing money from any foreign country ATM. In addition, chances of getting the physical card stolen are some of the major factors limiting the growth of the forex card market. On the contrary, rise in demand for cash alternatives among users while travelling to other countries is expected to provide lucrative growth opportunities in the coming years.
The forex card market is segmented on the basis of type, industry vertical, end user, and region. By type, it is segmented into multi-currency forex card, and single currency forex card. By industry vertical, it is bifurcated into hospitality, consumer goods, education, and others. Based on end user, it is segregated into businesses and individuals. By region, it is analyzed across Asia-Pacific, Europe, North America, and LAMEA.
The report analyzes the profiles of key players operating in the forex card market such as Bank of America Corporation, Charles Schwab & Co., Inc., Citigroup Inc., CREDIT SUISSE GROUP AG, FINNEW SOLUTIONS PVT. LTD., JPMorganChase & Co., Morgan Stanley, Royal Bank of Canada, Thomascook.in, and UBS. These players have adopted various strategies to increase their market penetration and strengthen their position in the forex card industry.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the forex cards market analysis from 2021 to 2031 to identify the prevailing forex cards market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the forex cards market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global forex cards market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Multi-currency Forex Card
Single Currency Forex Card
By Industry Vertical
Hospitality
Consumer Goods
Education
Others
By End User
Businesses
Individuals
By Region
North America
U.S.
Canada
Europe
United Kingdom
Germany
France
Italy
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Singapore
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Bank of America Corporation
Charles Schwab & Co
Citigroup Inc.
CREDIT SUISSE GROUP.
JP Morgan Chase & Co.
Morgan Stanley
Niyo Global Card
Royal Bank of Canada
Thomas Cook
UBS
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