Africa & Middle East Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Africa & Middle East Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Report Description

According to PayNXT360, the prepaid card market (value terms) in Africa & Middle East increased at a CAGR of 10.8% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 13.7%, increasing from US$56.52 billion in 2022 to reach US$94.61 billion by 2026.

The demand for prepaid cards surged significantly as an alternative to cash in the last four to six quarters in the Africa & Middle East region. The growth in the adoption of prepaid card payment methods in this region is primarily because of the rise in technology-driven products and services. Moreover, governments are persuading the consumers in the region to use cashless payment methods such as digital and mobile wallets, thereby supporting the growth of prepaid cards in the region.

Prepaid cards are also gaining increasing adoption among consumers who do not have a good credit score or an existing bank account in the region. Moreover, prepaid cards are also gaining traction among students, expatriate workers, and blue-collar service providers, as the payment solution offers a range of services such as sending remittances, payroll processing, gifting, government benefit disbursement, and several others.

Telecom providers are integrating virtual prepaid cards in their digital wallets in South Africa

With the rise in online shopping among South Africans, digital wallet providers are developing virtual payment solutions with fintech partners. For instance,
In June 2021, South African wireline and wireless telecommunications provider Telkom, introduced a virtual card for use on WhatsApp for its digital wallet, Telkom Pay, users.
Telkom collaborated with Mastercard, Nedbank, and leading fintech enablement partner Ukheshe Technologies to launch this virtual prepaid card.
The virtual prepaid card will be linked to the wallet, and users can transact online through this card.

Banks are building partnerships with digital payments providers to launch virtual ‘buy now pay later’ prepaid cards in the UAE

With the popularity of buy-now, pay-later (BNPL) solutions in the UAE, partnerships are building up to gain market share. For instance,
In September 2021, Abu Dhabi Islamic Bank (ADIB), an Islamic financial institution has partnered up with Spotii, a digital payments provider, to launch a virtual BNPL prepaid card for the first time in the UAE.
Through the virtual prepaid card, customers will make in-store and online purchases with merchants and spread out the cost of their purchases across several installments with zero interest rates.
All the users can access the virtual prepaid card via the Spotii Mobile app and load money to fund the cost-free installment payments.

Ride sharing companies are building partnerships with fintechs to introduce mobile app-based payments in Turkey

With the country adopting cashless initiatives, technology firms are partnering with taxi firms and banking providers to explore a convenient payment method where the taxi drivers will not need any separate point of sale (POS) terminal or any other additional hardware to receive payments. For instance,
In August 2021, Turkish taxi firm, Taxi 7×24 piloted a software POS (sPOS) solution provided by Payneer Technology. The technology will enable NFC enabled Android devices to make contactless payment through an app.
The company also partnered with Yapi Kredi bank to facilitate consumers.
The app will be accompanied by a prepaid card, where the collected money can be transferred and used to withdraw cash from ATMs or making card payments.

Amazon collaborated with local artists to launch theme-based gift cards in Saudi Arabia

Online platforms are collaborating with local artists and influencers to design gift cards for special occasions or festival greetings. For instance,
In May 2021, Saudi artist Majd Shaker Jaha created a new collection featuring artistic designs for Amazon for the occasion of Eid Al-Fitr. These Eid-themed electronic gift cards are available on Amazon.ae.
The special edition Eid-themed eGift Cards are also available in different denominations. Moreover, the Amazon.ae Gift Card can be redeemed by the user while entering the code during the time of check out or even can add to their Amazon.ae account.

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Africa & Middle East. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.
Market dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in prepaid card and digital wallet industry in Africa & Middle East.
Digital wallet segments: Provides value, volume and average value per transaction across 5 key spend categories in digital wallet. This includes retail, travel, entertainment and gaming, restaurant, and recharge and bill payment.
Open loop and closed loop prepaid cards: market estimates and forecasts to assess opportunities 13 open loop and closed loop prepaid market segments. Details four essential KPIs – number of cards in circulation, number of transactions, load value, and value of transactions.
Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key prepaid KPIs, including spend by age, gender, and income level.
Retail spend: Breaks down retail spend across 11 categories to provide detailed insights on consumer behaviour and changing dynamics of prepaid card spend.

This title from PayNXT360 is a bundled offering, combining one regional and 7 country reports:

1. Africa & Middle East Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
2. Egypt Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
3. Israel Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
4. Kenya Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
5. Nigeria Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
6. Saudi Arabia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
7. South Africa Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
8. United Arab Emirates Prepaid Card and Digital Wallet Business and Investment Opportunities Databook

Scope

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics. With over 100 KPIs, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

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
Gift Card Market Size and Forecast by Consumer Segments
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
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
By Small Scale Business Segment
By Mid-Tier Business Segment
By Enterprise Business Segment
By Government Segment

Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
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
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
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

Reasons to buy
In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument in Africa & Middle East.
Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.
Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards and digital wallets.