Global Prepaid Cards Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Prepaid Cards Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A prepaid card is a card that you can use to pay for things. Prepaid cards are also known as prepaid debit cards or stored value cards. Prepaid cards are a safe and convenient alternative to cash. People can use prepaid cards to buy things online and in stores.

Market Overview:

The latest research study on the global Prepaid Cards market finds that the global Prepaid Cards market reached a value of USD 840538.0 million in 2022. It’s expected that the market will achieve USD 1894767.0 million by 2028, exhibiting a CAGR of 14.51% during the forecast period.

Increased demand for cash alternatives

In recent years, non-cash payments have developed rapidly around the world. Some countries and regions have implemented de-cashization, including stopping the issuance of large-denomination cash and more restricting the use of large-value cash. The number and amount of cash transactions are declining in many countries and regions, and non-cash payments are developing rapidly. Prepaid cards are heavily used by downstream consumers as an alternative to cashless transactions. For example, credit cards and prepaid cards are the main forms of non-cash payment in Japan.
Hence, the increasing demand for cash alternatives in the global market is driving the prepaid cards industry.

There are some advantages to using prepaid cards and there are a large number of consumers in the market

Prepaid cards have become an indispensable part of consumer life, and have played a certain role in facilitating payment, promoting consumption, and prospering the market.
The use of prepaid cards also has many advantages for consumers. The first is safety; for consumers, a thin prepaid card can be used without or with a lot of cash, reducing the risk of theft and robbery. The second is convenience. Shopping with a prepaid card is easy to carry, and the balance can be displayed after shopping, which is very convenient to use. Also, another major benefit of prepaid cards is the ability to control users' spending. Thus avoiding the risk of spending more than the amount available in the checking account and overdraft, prepaid cards allow users to accurately plan their spending. Therefore, there is a large number of consumers using prepaid cards in the market, which is driving the development of the prepaid card industry.

Region Overview:

In 2022, the share of the Prepaid Cards market in North America stood at 43.76%.

Company Overview:

The Bancorp Bank is one of the major players operating in the Prepaid Cards market, holding a share of 7.64% in 2023.
The Bancorp, Inc., headquartered in Sioux Falls, South Dakota, is a provider of payment services and specialty lending through its subsidiary, The Bancorp Bank. The company's fintech solutions, institutional banking, commercial lending and real estate bridge lending businesses are powered by banking solutions powered by cutting-edge technology and a 'partner-first' perspective.

Segmentation Overview:

By type, Single-Purpose Prepaid Card segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment General-Purpose Reloadable Card, with a market share of 28.25% in 2022.

Key Companies in the global Prepaid Cards market covered in Chapter 3:

US BANK
BBVA Compass Bancshares
H&R Block
Poste Italiane
NetSpend Holdings
MetaBank
American Express Company
PayPal Holdings
KeyBank
JPMorgan Chase & Co.
Green Dot Corporation
Comerica Bank
The Bancorp Bank
Bank of America

In Chapter 4 and Chapter 14.2, on the basis of types, the Prepaid Cards market from 2018 to 2029 is primarily split into:

Single-Purpose Prepaid Card
Multi-Purpose Prepaid Card

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Prepaid Cards market from 2018 to 2029 covers:

General-Purpose Reloadable Card
Gift Card
Government Benefits/Disbursement Card
Incentive/Payroll Card
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)