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

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

Report Description

In 2021, the Indian fintech industry recorded strong growth. With the changing digital landscape of the country, various fintech companies are either engaging in business expansion through partnerships or developing innovative solutions targeting various sets of consumers. With a future-looking mindset, these companies are likely to attract significant investment in the next four to six quarters.

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.

Financial service and digital wallet providers introducing unified prepaid transit cards in the Indian market

With the rising usage of cashless payments in the country, fintechs are approaching various sectors to capture customers with their innovative products. For instance,
In November 2021, Indian financial service and digital wallet provider Paytm introduced its stand-alone transit card for riding the metro, bus, and train in India.
The Paytm Transit Card, which is a prepaid card, will help the person to take care of the parking expenses, food, fuel, and online shopping expenses, coupled with travel expenses.
For top-ups and transactions, the Paytm Transit card is linked to the Paytm Payments Bank and the wallet.

Banks are tying up with fintechs to launch payroll cards for MSME workers in India

Targeting the workers of micro, small, and medium enterprises (MSMEs), various partnerships are witnessed in the country to provide prepaid payroll cards for these blue collared employees. For instance,
In January 2021, Indian private sector bank, ICICI, tied up with fintech Niyo to launch ICICI Bank Niyo Bharat Payroll Card for the MSME workers.
The MSME can upload the salaries in these prepaid cards, which the workers can use as per their needs.
The MSME workers can receive funds up to ₹1 lakh in these payroll cards, which are powered by Visa.

Financial service and digital wallet providers are introducing unified prepaid transit cards in the Indian market

With the rising usage of cashless payments in the country, fintechs are approaching various sectors to capture customers with their innovative products. For instance,
In November 2021, Indian financial service and digital wallet provider Paytm introduced its stand-alone transit card for riding the metro, bus, and train in India.
The Paytm Transit Card, which is a prepaid card, will help the person to take care of the parking expenses, food, fuel, and online shopping expenses, coupled with travel expenses.
For top-ups and transactions, the Paytm Transit card is linked to the Paytm Payments Bank and the wallet.

According to PayNXT360, the prepaid card market (value terms) in India increased at a CAGR of 19.9% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 31.1%, increasing from US$35.69 billion in 2022 to reach US$105.43 billion by 2026.

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 India. 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 India.
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.

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 in India. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

India Digital Wallet Market Size and Forecast
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction

India 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)

India 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

India Open Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

India Closed Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
Transaction Value Trend Analysis
Transaction Volume Trend Analysis
Average Value per Transaction
Number of Cards

India Prepaid Card Consumer Usage Trends
By Age Group
By Income Group
By Gender

India General Purpose Prepaid Card Market Size and Forecast

India 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

India Entertainment and Gaming Prepaid Card Market Size and Forecast

India 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

India 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

India 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

India 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

India 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

India Transit and Tolls Prepaid Card Market Size and Forecast

India Healthcare and Wellness Prepaid Card Market Size and Forecast

India Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast

India Fuel Prepaid Cards Market Size and Forecast

India 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 India.
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.