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

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

Report Description

South Africa has turned out to be the most prominent fintech hub in 2021. With the rising digital payments in the country, fintech companies developed innovative products to provide financial inclusion to the unbanked population.

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.

South African fintech startups launching prepaid debit cards for its customers

There are millions of South Africans who are unbanked and face issues with receiving payments from their employers or third party. Consequently, domestic fintech companies are launching prepaid debit cards to address this problem. For instance,
In November 2021, a South African fintech startup SOLMate, announced the launch of SOLMate prepaid debit card. The new card also comes with an digital wallet and a virtual card.
The users of the prepaid debit card will be able to transfer money into the SOLMate account and the physical card can be used for making transactions.
The SOLMate account, specifically, allows the user to get paid directly into their wallets by third parties or employers, which they can use as per their need.

Airline providers are introducing gift voucher programs in partnership with travel technology companies and gift card solutions providers

Since the pandemic has made drastic changes to the travel spending attitude of the customers, airline providers are launching a more flexible way of spending, thereby generating an alternative revenue stream for the company. For instance,
In November 2021, Southern African airline, Airlink, launched flexible gift vouchers for the customers, which can be redeemed against air tickets and a variety of services on the company’s website.
These gift vouchers are managed by the company in partnership with Amadeus, the global travel technology provider, and Qwikcilver, a gift card solutions provider.
These gift vouchers can be used by the customers for up to three years and are also for multiple times.

PayNXT360 expects, with this flexible gift card solution, the company will generate revenue as it not only provides customers with a wide array of services but also future-dated and customizable gifts.

According to PayNXT360, the prepaid card market (value terms) in South Africa increased at a CAGR of 7.9% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 15.0%, increasing from US$8.81 billion in 2022 to reach US$15.40 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 South Africa. 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 South Africa.
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 South Africa. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

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

South Africa 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)

South Africa 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

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

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

South Africa Prepaid Card Consumer Usage Trends
By Age Group
By Income Group
By Gender

South Africa General Purpose Prepaid Card Market Size and Forecast

South Africa 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

South Africa Entertainment and Gaming Prepaid Card Market Size and Forecast

South Africa 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

South Africa 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

South Africa 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

South Africa 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

South Africa 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

South Africa Transit and Tolls Prepaid Card Market Size and Forecast

South Africa Healthcare and Wellness Prepaid Card Market Size and Forecast

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

South Africa Fuel Prepaid Cards Market Size and Forecast

South Africa 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 South Africa.
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.