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

United Kingdom 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 the United Kingdom increased at a CAGR of 8.7% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 10.5%, increasing from US$43.91 billion in 2022 to reach US$65.54 billion by 2026.

Government initiatives to launch prepaid cards to support local shops

The government of the United Kingdom is adopting different initiatives to support the county's local and independent traders primarily to help them recover from the pandemic. For instance,
In November 2021, Herefordshire Council is providing prepaid cards loaded with £15 to each of the county's 90,000 households to help the local producers, retailers, and shopkeepers recover from the pandemic.
Notably, the council will promote the 'Shop Local' prepaid card through the distribution of leaflets, and the households need to apply for the prepaid card.
These prepaid cards can be used to make point of sale purchases within Herefordshire that accepts Mastercard payments.

PayPal introduces a digital wallet with fundraising function in the United Kingdom
In September 2021, PayPal UK launched a new digital wallet for its users in the United Kingdom, which has an added charity function.
Through this app, users get an option to create customized community fundraising campaigns.
The app users in the United Kingdom via “PayPal Generosity Network” can use QR codes for purchases, access credit, as well as buy, hold and sell crypto.

Blackhawk Network building partnerships to strengthen its gift card portfolio in the United Kingdom

Since the demand for gift cards is growing in the United Kingdom, partnerships to offer gift card programs to attract customers are also increasing. For instance,
In June 2021, Blackhawk Network, a global leader in branded payments, has partnered with Iceland Food to launch Iceland’s gift card program in the United Kingdom.
Through this partnership, Iceland will provide an in-store gift card mall comprising its own branded gift cards and also a range of 3rd party gift cards in all the stores.
Iceland, through CashStar, will be able to launch an online B2c and B2b gift card proposition in the market. Notably, CashStar is powered by Blackhawk Network.

PayNXT360 expects, with rising demand for gift card solutions, more partnerships will be witnessed in the country, subsequently providing impetus to the growth of the prepaid card market in the United Kingdom over the next four to eight quarters.

FinTech companies are raising funds to integrate social banking with prepaid card programs in the United Kingdom

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.

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

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

United Kingdom 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)

United Kingdom 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

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

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

United Kingdom Prepaid Card Consumer Usage Trends
By Age Group
By Income Group
By Gender

United Kingdom General Purpose Prepaid Card Market Size and Forecast

United Kingdom 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

United Kingdom Entertainment and Gaming Prepaid Card Market Size and Forecast

United Kingdom 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

United Kingdom 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

United Kingdom 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

United Kingdom 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

United Kingdom 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

United Kingdom Transit and Tolls Prepaid Card Market Size and Forecast

United Kingdom Healthcare and Wellness Prepaid Card Market Size and Forecast

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

United Kingdom Fuel Prepaid Cards Market Size and Forecast

United Kingdom 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 United Kingdom.
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.