Prepaid Card Market by Card Type (Open Loop and Closed Loop), by Offering (General Purpose Reloadable (GPR) Card, Gift Card, Payroll Card, Prepaid Debit Card, Government Card, Prepaid Incentive Card, and Others), by Application (Bills Payment, Food, Entertainment, and Savings), and by End User (Retail, Corporate, and Government/Public Sector) – Global Opportunity Analysis and Industry Forecast, 2024–2030
Prepaid Card Market
Domain – ICT & Media
Sub Domain – Hardware/Software & IT Services
The prepaid card market size was valued at USD 32.87 billion in 2023, and is predicted to reach USD 61.46 billion by 2030, with a CAGR of 8.9% during the forecast period, 2024–2030.
Prepaid cards offer enhanced security features and reduced exposure to personal information, making them a secure alternative to traditional payment methods in the battle against identity theft. According to the Federal Trade Commission, the identity theft protection market is projected to reach USD 28 billion by 2029 with 1.4 million cases. Prepaid cards, known for enhanced security and minimal personal information exposure, emerge as a secure alternative, addressing identity theft concerns.
However, rising alternative payment methods, such as digital wallets and real-time payments, are gaining popularity, challenging the prepaid card industry with advanced technology, seamless transactions, and instant fund transfers. On the contrary, prepaid cards offer a secure and convenient payment method for online shoppers, expanding customer bases, especially among the unbanked and underbanked. The growth of the e-commerce sector and online marketplaces is a boon for the prepaid card industry, and expected to create ample growth opportunities for the market in the coming years.
Segment Overview
The global prepaid card industry is segmented on the basis of card type, offering, application, end user, and region.
By card type, the market is bifurcated into open loop and closed loop.
By offering, the market is classified into general purpose reloadable (GPR) card, gift card, payroll card, prepaid debit card, government card, prepaid incentive card, and others.
By application, the market is segmented into bills payment, food, entertainment, and savings.
By end user, the market is categorized into retail, corporate, and government/public sector.
By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).
Regional Analysis
Europe holds the dominant market share
Rising concerns over identity theft are driving the need for secure payment methods. This, in turn, is boosting the European prepaid card industry. According to Cifas, identity fraud cases surged by 23% in 2022 as compared to pre-pandemic levels, underscoring the demand for secure options such as prepaid cards. Factors including a thriving e-commerce sector and a strong global commerce presence contribute to the market growth. Germany's e-commerce market, for example, experienced a 24% increase in spending in 2021. Additionally, France's online commerce is projected to reach USD 215.31 billion by 2025. Innovative salary payment solutions, exemplified by Hi55 Ventures' partnership with Mastercard for real-time pay access, drive this transformative trend.
Key Market Players
The key players in the global prepaid card market include:
• American Express Company
• Blackhawk Network Holdings, Inc.
• Discover Financial Services (DFS)
• Green Dot Corporation
• Global Payment, Inc.
• H&R Block, Inc.
• Paysafe Limited
• PayPal Holdings, Inc.
• Mastercard, Inc.
• Visa, Inc.
Recent Developments
September 2023
Blackhawk Network partnered with WH Smith North America (a U.S.-based retailer at airports and casino resorts) to launch Gift Card Malls nationwide in airports and casino resorts. This partnership will increase visibility, convenience, and marketing promotions, potentially leading to further industry disruption and innovation.
June 2023
I&M Bank Tanzania partnered with Mastercard to launch premium debit and prepaid cards, which marks a notable development in the financial industry. It offers customers a wider range of payment solutions and reinforces prepaid cards as a versatile and preferred payment option.
June 2023
Fortum Charge & Drive (C&D), a Norway-based energy company, collaborated with Pine Labs to launch RuPay Pre-paid Card for making payment of charging sessions completed at Fortum charging stations anywhere in India.
May 2023
Transat Distribution Canada (TDC) launched ‘Zaluna,’ a digital gift card available online from their travel agency network. It simplifies issuance and offers a corporate solution for bulk purchases. Zaluna gift cards have no expiration date, ensuring lasting experiences.
February 2023
Mastercard partnered with Obopay to introduce a prepaid card for rural areas, promoting digital transactions and reducing reliance on cash. This initiative aims to enhance financial inclusion and empower underserved communities.
KEY BENEFITS
• The report provides quantitative analysis and estimations of the prepaid card market from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a detailed analysis of the prepaid card market trends, including the current and future trends to depict the prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the prepaid card market is provided in the report.
• The competitive analysis of the market players along with their market share in the prepaid card market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.
- 1. Introduction
- 1.1. Report Description
- 1.2. Who Should Read This Report
- 1.3. Key Market Segments
- 1.4. Research Methodology
- 1.4.1 Market Size Estimation Methodology
- 1.4.1.1. Top-down And Bottom-up Approach
- 1.4.1.2. Demand And Supply Side Analysis
- 1.4.1.3. Macro-indicator Approach
- 1.4.2 Data Collection Approach
- 1.4.2.1. Primary Data Collection
- 1.4.2.2. Secondary Data Collection
- 1.4.3 Secondary Data Sources
- 1.4.4 Forecasting
- 2. Market Definition & Scope
- 2.1. Definition
- 2.2. Scope
- 2.3. Inclusions And Exlusions
- 3. Impact Of The Russia-ukraine War And Middle East Conflicts On The Prepaid Card Market
- 4. Prepaid Card Market – Executive Summary
- 4.1. Market Snapshot, 2022 - 2030, Million Usd
- 5. Market Overview
- 5.1. Market Dynamics
- 5.1.1 Drivers
- 5.1.1.1. Growing Trend Of Achieving Financial Inclusion Via Prepaid Cards
- 5.1.1.2. Rising Trend Of Digital Payments
- 5.1.1.3. Mitigating The Risk Of Identity Theft And Enhancing Security
- 5.1.1.4. Rapid Adoption Of Physical And Digital Gift Cards
- 5.1.2 Restraints
- 5.1.2.1. Rising Payment Alternatives Inhibiting The Market
- 5.1.3 Opportunities
- 5.1.3.1. Rapidly Growing E-commerce Sector Creates Market Opportunities
- 6. Market Share Analysis
- 6.1. Market Share Analysis Of Top Prepaid Card Providers, 2022
- 7. Global Prepaid Card Market, By Card Type
- 7.1. Overview
- 7.2. Open Loop
- 7.2.1 Open Loop Market, By Region
- 7.3. Closed Loop
- 7.3.1 Closed Loop Market, By Region
- 8. Global Prepaid Card Market, By Offering
- 8.1. Overview
- 8.2. General Purpose Reloadable (Gpr) Card
- 8.2.1 General Purpose Reloadable (Gpr) Card Market, By Region
- 8.3. Gift Card
- 8.3.1 Gift Card Market, By Region
- 8.4. Payroll Card
- 8.4.1 Payroll Card Market, By Region
- 8.5. Prepaid Debit Card
- 8.5.1 Prepaid Debit Card Market, By Region
- 8.6. Government Card
- 8.6.1 Government Card Market, By Region
- 8.7. Prepaid Incentive Card
- 8.7.1 Prepaid Incentive Card Market, By Region
- 8.8. Others
- 8.8.1 Others Market, By Region
- 9. Global Prepaid Card Market, By Application
- 9.1. Overview
- 9.2. Bills Payment
- 9.2.1 Bills Payment Market, By Region
- 9.3. Food
- 9.3.1 Food Market, By Region
- 9.4. Entertainment
- 9.4.1 Entertainment Market, By Region
- 9.5. Savings
- 9.5.1 Savings Market, By Region
- 10. Global Prepaid Card Market, By End User
- 10.1. Overview
- 10.2. Retail
- 10.2.1 Retail Market, By Region
- 10.3. Corporate
- 10.3.1 Corporate Market, By Region
- 10.4. Government/Public Sector
- 10.4.1 Government/Public Sector Market, By Region
- 11. Global Prepaid Card Market, By Region
- 11.1. Overview
- 11.2. North America
- 11.2.1 North America Prepaid Card Market, By Card Type
- 11.2.2 North America Prepaid Card Market, By Offering
- 11.2.3 North America Prepaid Card Market, By Application
- 11.2.4 North America Prepaid Card Market, By End User
- 11.2.5 North America Prepaid Card Market, By Country
- 11.2.5.1. The U.S.
- 11.2.5.1.1. The U.S. Prepaid Card Market, By Card Type
- 11.2.5.1.2. The U.S. Prepaid Card Market, By Offering
- 11.2.5.1.3. The U.S. Prepaid Card Market, By Application
- 11.2.5.1.4. The U.S. Prepaid Card Market, By End User
- 11.2.5.2. Canada
- 11.2.5.2.1. Canada Prepaid Card Market, By Card Type
- 11.2.5.2.2. Canada Prepaid Card Market, By Offering
- 11.2.5.2.3. Canada Prepaid Card Market, By Application
- 11.2.5.2.4. Canada Prepaid Card Market, By End User
- 11.2.5.3. Mexico
- 11.2.5.3.1. Mexico Prepaid Card Market, By Card Type
- 11.2.5.3.2. Mexico Prepaid Card Market, By Offering
- 11.2.5.3.3. Mexico Prepaid Card Market, By Application
- 11.2.5.3.4. Mexico Prepaid Card Market, By End User
- 11.3. Europe
- 11.3.1 Europe Prepaid Card Market, By Card Type
- 11.3.2 Europe Prepaid Card Market, By Offering
- 11.3.3 Europe Prepaid Card Market, By Application
- 11.3.4 Europe Prepaid Card Market, By End User
- 11.3.5 Europe Prepaid Card Market, By Country
- 11.3.5.1. The Uk
- 11.3.5.1.1. Uk Prepaid Card Market, By Card Type
- 11.3.5.1.2. Uk Prepaid Card Market, By Offering
- 11.3.5.1.3. Uk Prepaid Card Market, By Application
- 11.3.5.1.4. Uk Prepaid Card Market, By End User
- 11.3.5.2. Germany
- 11.3.5.2.1. Germany Prepaid Card Market, By Card Type
- 11.3.5.2.2. Germany Prepaid Card Market, By Offering
- 11.3.5.2.3. Germany Prepaid Card Market, By Application
- 11.3.5.2.4. Germany Prepaid Card Market, By End User
- 11.3.5.3. France
- 11.3.5.3.1. France Prepaid Card Market, By Card Type
- 11.3.5.3.2. France Prepaid Card Market, By Offering
- 11.3.5.3.3. France Prepaid Card Market, By Application
- 11.3.5.3.4. France Prepaid Card Market, By End User
- 11.3.5.4. Italy
- 11.3.5.4.1. Italy Prepaid Card Market, By Card Type
- 11.3.5.4.2. Italy Prepaid Card Market, By Offering
- 11.3.5.4.3. Italy Prepaid Card Market, By Application
- 11.3.5.4.4. Italy Prepaid Card Market, By End User
- 11.3.5.5. Denmark
- 11.3.5.5.1. Denmark Prepaid Card Market, By Card Type
- 11.3.5.5.2. Denmark Prepaid Card Market, By Offering
- 11.3.5.5.3. Denmark Prepaid Card Market, By Application
- 11.3.5.5.4. Denmark Prepaid Card Market, By End User
- 11.3.5.6. Netherlands
- 11.3.5.6.1. Netherlands Prepaid Card Market, By Card Type
- 11.3.5.6.2. Netherlands Prepaid Card Market, By Offering
- 11.3.5.6.3. Netherlands Prepaid Card Market, By Application
- 11.3.5.6.4. Netherlands Prepaid Card Market, By End User
- 11.3.5.7. Finland
- 11.3.5.7.1. Finland Prepaid Card Market, By Card Type
- 11.3.5.7.2. Finland Prepaid Card Market, By Offering
- 11.3.5.7.3. Finland Prepaid Card Market, By Application
- 11.3.5.7.4. Finland Prepaid Card Market, By End User
- 11.3.5.8. Sweden
- 11.3.5.8.1. Sweden Prepaid Card Market, By Card Type
- 11.3.5.8.2. Sweden Prepaid Card Market, By Offering
- 11.3.5.8.3. Sweden Prepaid Card Market, By Application
- 11.3.5.8.4. Sweden Prepaid Card Market, By End User
- 11.3.5.9. Norway
- 11.3.5.9.1. Norway Prepaid Card Market, By Card Type
- 11.3.5.9.2. Norway Prepaid Card Market, By Offering
- 11.3.5.9.3. Norway Prepaid Card Market, By Application
- 11.3.5.9.4. Norway Prepaid Card Market, By End User
- 11.3.5.10. Rest Of Europe
- 11.3.5.10.1. Rest Of Europe Prepaid Card Market, By Card Type
- 11.3.5.10.2. Rest Of Europe Prepaid Card Market, By Offering
- 11.3.5.10.3. Rest Of Europe Prepaid Card Market, By Application
- 11.3.5.10.4. Rest Of Europe Prepaid Card Market, By End User
- 11.4. Asia-pacific
- 11.4.1 Asia-pacific Prepaid Card Market, By Card Type
- 11.4.2 Asia-pacific Prepaid Card Market, By Offering
- 11.4.3 Asia-pacific Prepaid Card Market, By Application
- 11.4.4 Asia-pacific Prepaid Card Market, By End User
- 11.4.5 Asia-pacific Prepaid Card Market, By Country
- 11.4.5.1. China
- 11.4.5.1.1. China Prepaid Card Market, By Card Type
- 11.4.5.1.2. China Prepaid Card Market, By Offering
- 11.4.5.1.3. China Prepaid Card Market, By Application
- 11.4.5.1.4. China Prepaid Card Market, By End User
- 11.4.5.2. Japan
- 11.4.5.2.1. Japan Prepaid Card Market, By Card Type
- 11.4.5.2.2. Japan Prepaid Card Market, By Offering
- 11.4.5.2.3. Japan Prepaid Card Market, By Application
- 11.4.5.2.4. Japan Prepaid Card Market, By End User
- 11.4.5.3. India
- 11.4.5.3.1. India Prepaid Card Market, By Card Type
- 11.4.5.3.2. India Prepaid Card Market, By Offering
- 11.4.5.3.3. India Prepaid Card Market, By Application
- 11.4.5.3.4. India Prepaid Card Market, By End User
- 11.4.5.4. South Korea
- 11.4.5.4.1. South Korea Prepaid Card Market, By Card Type
- 11.4.5.4.2. South Korea Prepaid Card Market, By Offering
- 11.4.5.4.3. South Korea Prepaid Card Market, By Application
- 11.4.5.4.4. South Korea Prepaid Card Market, By End User
- 11.4.5.5. Australia
- 11.4.5.5.1. Australia Prepaid Card Market, By Card Type
- 11.4.5.5.2. Australia Prepaid Card Market, By Offering
- 11.4.5.5.3. Australia Prepaid Card Market, By Application
- 11.4.5.5.4. Australia Prepaid Card Market, By End User
- 11.4.5.6. Indonesia
- 11.4.5.6.1. Indonesia Prepaid Card Market, By Card Type
- 11.4.5.6.2. Indonesia Prepaid Card Market, By Offering
- 11.4.5.6.3. Indonesia Prepaid Card Market, By Application
- 11.4.5.6.4. Indonesia Prepaid Card Market, By End User
- 11.4.5.7. Singapore
- 11.4.5.7.1. Singapore Prepaid Card Market, By Card Type
- 11.4.5.7.2. Singapore Prepaid Card Market, By Offering
- 11.4.5.7.3. Singapore Prepaid Card Market, By Application
- 11.4.5.7.4. Singapore Prepaid Card Market, By End User
- 11.4.5.8. Taiwan
- 11.4.5.8.1. Taiwan Prepaid Card Market, By Card Type
- 11.4.5.8.2. Taiwan Prepaid Card Market, By Offering
- 11.4.5.8.3. Taiwan Prepaid Card Market, By Application
- 11.4.5.8.4. Taiwan Prepaid Card Market, By End User
- 11.4.5.9. Thailand
- 11.4.5.9.1. Thailand Prepaid Card Market, By Card Type
- 11.4.5.9.2. Thailand Prepaid Card Market, By Offering
- 11.4.5.9.3. Thailand Prepaid Card Market, By Application
- 11.4.5.9.4. Thailand Prepaid Card Market, By End User
- 11.4.5.10. Rest Of Asia-pacific
- 11.4.5.10.1. Rest Of Asia-pacific Prepaid Card Market, By Card Type
- 11.4.5.10.2. Rest Of Asia-pacific Prepaid Card Market, By Offering
- 11.4.5.10.3. Rest Of Asia-pacific Prepaid Card Market, By Application
- 11.4.5.10.4. Rest Of Asia-pacific Prepaid Card Market, By End User
- 11.5. Rest Of World
- 11.5.1 Rest Of World Prepaid Card Market, By Card Type
- 11.5.2 Rest Of World Prepaid Card Market, By Offering
- 11.5.3 Rest Of World Prepaid Card Market, By Application
- 11.5.4 Rest Of World Prepaid Card Market, By End User
- 11.5.5 Rest Of World Prepaid Card Market, By Country
- 11.5.5.1. Latin America
- 11.5.5.1.1. Latin America Prepaid Card Market, By Card Type
- 11.5.5.1.2. Latin America Prepaid Card Market, By Offering
- 11.5.5.1.3. Latin America Prepaid Card Market, By Application
- 11.5.5.1.4. Latin America Prepaid Card Market, By End User
- 11.5.5.2. Middle East
- 11.5.5.2.1. Middle East Prepaid Card Market, By Card Type
- 11.5.5.2.2. Middle East Prepaid Card Market, By Offering
- 11.5.5.2.3. Middle East Prepaid Card Market, By Application
- 11.5.5.2.4. Middle East Prepaid Card Market, By End User
- 11.5.5.3. Africa
- 11.5.5.3.1. Africa Prepaid Card Market, By Card Type
- 11.5.5.3.2. Africa Prepaid Card Market, By Offering
- 11.5.5.3.3. Africa Prepaid Card Market, By Application
- 11.5.5.3.4. Africa Prepaid Card Market, By End User
- 12. Company Profiles
- 12.1. American Express Company
- 12.1.1 Company Overview
- 12.1.2 Company Snapshot
- 12.1.3 Operating Business Segments
- 12.1.4 Product Portfolio
- 12.1.5 Business Performance
- 12.1.6 Sales By Business Segment
- 12.1.7 Sales By Geographic Segment
- 12.1.8 Key Strategic Moves & Developments
- 12.1.9 Primary Market Competitors
- 12.2. Blackhawk Network Holdings, Inc.
- 12.2.1 Company Overview
- 12.2.2 Company Snapshot
- 12.2.3 Product Portfolio
- 12.2.4 Key Strategic Moves & Developments
- 12.2.5 Primary Market Competitors
- 12.3. Paypal Holding Inc.
- 12.3.1 Company Overview
- 12.3.2 Company Snapshot
- 12.3.3 Operating Business Segments
- 12.3.4 Product Portfolio
- 12.3.5 Business Performance
- 12.3.6 Sales By Business Segment
- 12.3.7 Sales By Geographic Segment
- 12.3.8 Key Strategic Moves & Developments
- 12.3.9 Primary Market Competitors
- 12.4. Discover Financial Services
- 12.4.1 Company Overview
- 12.4.2 Company Snapshot
- 12.4.3 Operating Business Segments
- 12.4.4 Product Portfolio
- 12.4.5 Business Performance
- 12.4.6 Sales By Business Segment
- 12.4.7 Key Strategic Moves & Developments
- 12.4.8 Primary Market Competitors
- 12.5. Green Dot Corporation
- 12.5.1 Company Overview
- 12.5.2 Company Snapshot
- 12.5.3 Product Portfolio
- 12.5.4 Operating Business Segments
- 12.5.5 Business Performance
- 12.5.6 Sales By Business Segment
- 12.5.7 Key Strategic Moves & Developments
- 12.5.8 Primary Market Competitors
- 12.6. H&R Block, Inc.
- 12.6.1 Company Overview
- 12.6.2 Company Snapshot
- 12.6.3 Product Portfolio
- 12.6.4 Business Performance
- 12.6.5 Sales By Business Segment
- 12.6.6 Key Strategic Moves & Developments
- 12.6.7 Primary Market Competitors
- 12.7. Paysafe Limited
- 12.7.1 Company Overview
- 12.7.2 Company Snapshot
- 12.7.3 Operating Business Segments
- 12.7.4 Product Portfolio
- 12.7.5 Business Performance
- 12.7.6 Sales By Business Segment
- 12.7.7 Sales By Geographic Segment
- 12.7.8 Key Strategic Moves & Developments
- 12.7.9 Primary Market Competitors
- 12.8. Global Payments Inc
- 12.8.1 Company Overview
- 12.8.2 Company Snapshot
- 12.8.3 Operating Business Segments
- 12.8.4 Product Portfolio
- 12.8.5 Business Performance
- 12.8.6 Sales By Business Segment
- 12.8.7 Sales By Geographic Segment
- 12.8.8 Key Strategic Moves & Developments
- 12.8.9 Primary Market Competitors
- 12.9. Mastercard International Inc.
- 12.9.1 Company Overview
- 12.9.2 Company Snapshot
- 12.9.3 Operating Business Segments
- 12.9.4 Product Portfolio
- 12.9.5 Business Performance
- 12.9.6 Sales By Business Segment
- 12.9.7 Sales By Geographic Segment
- 12.9.8 Key Strategic Moves & Developments
- 12.9.9 Primary Market Competitors
- 12.10. Visa Inc.
- 12.10.1 Company Overview
- 12.10.2 Company Snapshot
- 12.10.3 Operating Business Segments
- 12.10.4 Product Portfolio
- 12.10.5 Business Performance
- 12.10.6 Sales By Business Segment
- 12.10.7 Sales By Geographic Segment
- 12.10.8 Key Strategic Moves & Developments
- 12.10.9 Primary Market Competitors
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