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

Asia Pacific 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 Asia Pacific increased at a CAGR of 9.8% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 12.0%, increasing from US$598.83 billion in 2022 to reach US$940.98 billion by 2026.

In 2021, the demand for prepaid cards increased significantly in the Asia-Pacific region. Fintech companies in emerging markets attracted significant investments to expand their product portfolios and foray into new markets. The region’s key digital wallets gained substantial market share in the last four to six quarters primarily due to rising adoption and technological advancements. Moreover, with the strong growth of the e-commerce market in this region and the demand for cashless payment methods, PayNXT360 expects the prepaid card segment to benefit significantly.

Digital wallets are building partnerships to launch prepaid cards in the Indian market

With higher demand for digital payments across online and brick-and-mortar stores in the country, digital wallet providers are launching innovative prepaid card solutions in order to capture more market share. For instance,
In November 2021, Indian digital wallet company, Mobikwik, has collaborated with the National Payments Corporation of India (NPCI) and Axis Bank for the introduction of MobiKwik RuPay Prepaid Card.
This prepaid card, together with the wallet, will provide the customers' access to more than 40 million merchants across many countries, including MobiKwik merchant network.
The prepaid cards will reflect up to ₹2 lakh (~US$2,690) balance from the wallet balance.
The customers of prepaid card users will get a ₹30,000 credit (~US$400) in their wallet as they will automatically qualify for MobiKwik Zip, which is the buy now pay later product of the digital wallet.

Central Bank of China introduced digital yuan wallet app

China will continue the digitization process through the release of the wallet app. For instance,
In January 2022, The People’s Bank of China (PBOC) launched a digital yuan wallet app on various app stores.
The app will help the bank to carry out trials of digital wallets, exchanges, and circulation services through digital currency.
Moreover, the app was developed by PBOC’s Digital Currency Institute, which also developed the national digital currency.

Global technology providers are launching crypto linked prepaid cards to expand their market in China

In China, demand for crypto-based prepaid cards increased many folds in the last four quarters. With rising market attractiveness, global technology providers are launching crypto-based prepaid cards solutions to attract consumers in China. For instance,
In December 2021, Mastercard, has partnered with Hong Kong-based crypto finance firm Amber Group to launch cryptocurrency-linked prepaid cards for both individuals and businesses.
The partnership will help the users to convert Bitcoin and other digital currencies into fiat currency.
Moreover, the cardholders can use these prepaid cards to make transactions in online platforms as well as physical retail outlets with merchants wherever Mastercard payments are accepted.

Japanese prepaid card companies integrate with mobile wallet companies to attract more consumers

With the younger generation getting attracted towards digital payments, the Japanese prepaid companies are plunging into partnerships with mobile wallet companies to increase acceptability among consumers, thereby increasing the customer base in the country. For instance,
In October 2021, Japanese prepaid cards WAON and nanaco launched Apple Pay in these prepaid cards to integrate e-Money systems into the fold. Initially, these prepaid cards were used by Google Pay users, but from this partnership, Aeon's WAON and Seven & i Holdings' nanaco is now available to iPhone and Apple Watch users also.
Moreover, the company will allow users to directly transfer plastic cards to wallets in iOS 15, a feature available specific to this platform. This is helpful for those who prefer recharging with cash instead of wallet-stored credit card. Also, WAON and nanaco will allow adding new cards directly to the wallet, and this can be done without the creation of an account.
The Japanese WAON card users get a facility of the ""e-Money"" option in the Wallet app. The addition of the card will provide the users' facilities such as viewing of the transaction history, auto-recharging provision of cards, earning double card points, etc.

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 the Asia Pacific region. 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 Asia Pacific.
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 10 country reports:

1. Asia Pacific Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
2. Australia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
3. China Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
4. India Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
5. Indonesia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
6. Japan Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
7. Malaysia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
8. Philippines Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
9. Singapore Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
10. South Korea Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
11. Thailand 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 Asia Pacific.
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.