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

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

Report Description

Singapore has been aiming to embrace e-payments and phase out cash usage gradually. The country observed many fintech companies expand their business during 2021. Conventional banks are also focusing on digital wallets and innovative prepaid cards to compete against the new-age fintech companies. The strong growth of e-commerce also propelled the growth of digital wallets and prepaid cards.

Banks are launching multi-currency digital wallet for SMEs in Singapore

With the rising adoption of e-payments among consumers in the country, banking service providers are launching multi-currency digital wallets to attract more customers. For instance,
In May 2021, HSBC Singapore, launched its first multi-currency digital wallet, HSBC Global Wallet, for SMEs to send and receive international payments.
The wallet allows the users to access the bank’s existing business banking platform, HSBCnet, and international transactions.
Moreover, the wallet will allow the clients of the SMEs to send and receive money in a number of currencies.

By using the bank’s global payments network, the SMEs will quickly and securely transact with their suppliers and clients around the world.

E-commerce platforms and gift card processing platforms collaborating to launch gift card programs in Singapore

The gift card market is observing phenomenal growth around the globe. Therefore, fashion and beauty online platforms are launching their own gift card programs to grab a share of the growing market. For instance,
In May 2021, e-commerce platform, Zalora, collaborated with gift card processing platform, Qwikcilver to launch Zalora Gift Card in Singapore.
The shoppers can buy any gift from the selection of brands with a gift card.
As the authorized distributor, Qwikcilver will be distributing B2B gift cards across Zalora’s B2B channels and will also be developing new B2B distribution channels to expand the program.

According to PayNXT360, the prepaid card market (value terms) in Singapore increased at a CAGR of 9.5% 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$7.68 billion in 2022 to reach US$11.89 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 Singapore. 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 Singapore.
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 Singapore. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

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

Singapore 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)

Singapore 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

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

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

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

Singapore General Purpose Prepaid Card Market Size and Forecast

Singapore 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

Singapore Entertainment and Gaming Prepaid Card Market Size and Forecast

Singapore 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

Singapore 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

Singapore 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

Singapore 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

Singapore 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

Singapore Transit and Tolls Prepaid Card Market Size and Forecast

Singapore Healthcare and Wellness Prepaid Card Market Size and Forecast

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

Singapore Fuel Prepaid Cards Market Size and Forecast

Singapore 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 Singapore.
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.