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

Global 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 Global prepaid card market (value terms) increased at a CAGR of 9.2% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 11.5%, increasing from US$1533.37 billion in 2022 to reach US$2370.75 billion by 2026.

Globally, the demand for prepaid cards surged significantly in the last four to six quarters. Moreover, emerging fintech companies are driving digital and mobile wallet innovation. According to PayNXT360’s Q4 2021 Global Prepaid Cards Market Survey, a significant part of the growth in the global prepaid card segment is expected to come from the unbanked population.

Over the next four to eight quarters, B2B prepaid card segment is expected to be a high-growth area globally. Prepaid payment instruments focusing on retail, corporates, and government segments are also anticipated to record high growth as compared to general-purpose prepaid cards. One of the key segments, where a significant value can be unlocked over the short to medium term is the government disbursement through prepaid payment instruments.

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 Asian 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.

Consumers and retailers have mostly avoided cash transactions due to the fear of spreading the Coronavirus in the last four to six quarters in Europe. The trend has propelled the demand for digital wallets in many European countries. It was also observed that consumers from the United Kingdom, Germany, France, Italy, and Sweden are getting more influenced to use prepaid cards during this period. Consequently, PayNXT360 expects increasing fundraising activities and innovative product launches by fintech companies in the next four to six quarters in the European prepaid card market.

FinTech companies are raising funds to integrate social banking with prepaid card programs in Europe

As more and more consumers in the country demand innovative prepaid payment instruments and digital banking services, new startups are emerging and raising funding rounds in the United Kingdom to compete with more established players. For instance,
In August 2021, Kroo, a London-based social banking startup, raised US$24.5 million in Series A Funding. According to Kroo, the social bank is planning to use the funding to bulk up operations, improve its app, and grow the team before its planned launch in 2022.
The startup is aiming to allow its users to participate in shared financial activity and back social causes with financial might. Notably, Kroo is planning to test this concept through a prepaid card offering in partnership with PayrNet.

In the United States, the prepaid cards market witnessed innovative prepaid cards solutions for businesses such as the travel industry, real estate market, corporates, and also for immigrants. Moreover, with digitization, PayNXT360 estimates, these prepaid card solutions will be highly accepted in the market, and this might provide impetus to the overall growth of the prepaid card market in the United States.

Moreover, during 2021, government initiatives also provided momentum to the prepaid market growth. For instance, In July 2021, New York City government had announced a US$100 incentive for anyone who gets their vaccination done at a city-run site. For those who will receive the first dose of vaccine, a US$100 digital prepaid card will be emailed to them.

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 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.
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 global and 20 country reports:

1. Global Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
2. Argentina Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
3. Australia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
4. Brazil Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
5. Canada Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
6. China Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
7. France Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
8. Germany Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
9. India Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
10. Indonesia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
11. Italy Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
12. Kenya Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
13. Mexico Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
14. Nigeria Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
15. Philippines Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
16. Russia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
17. South Africa Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
18. Thailand Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
19. United Arab Emirates Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
20. United Kingdom Prepaid Card and Digital Wallet Business and Investment Opportunities Databook
21. United States 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 Global.
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.