Prepaid Cards Global Market Outlook Report 2024 – Unbanked and Underbanked Consumers Evolving as a Potential Market

DUBLIN, March 28, 2024 /PRNewswire/ — The “Prepaid Cards – Global Strategic Business Report” has been added to  ResearchAndMarkets.com’s offering.

The global market for Prepaid Cards estimated at US$2 Trillion in the year 2023, is projected to reach a revised size of US$4.1 Trillion by 2030, growing at a CAGR of 9% over the analysis period 2023-2030.

Closed Loop Prepaid Cards, one of the segments analyzed in the report, is projected to record 8.8% CAGR and reach US$2.3 Trillion by the end of the analysis period. Growth in the Open Loop Prepaid Cards segment is estimated at 9.3% CAGR for the next 8-year period.

The Prepaid Cards market in the U.S. is estimated at US$726.5 Billion in the year 2023. China, the world’s second largest economy, is forecast to reach a projected market size of US$648.7 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 8.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.

Key Market Trends & Drivers:

Prepaid Cards: A Brighter Prospect in Cards amid Growing Digital PaymentsCOVID-19 Catalyzes Adoption of Digital PaymentsBanks Go the Prepaid WayUnbanked and Underbanked Consumers: Evolving as a Potential MarketTop Factors Cited as Barrier to Account Ownership: % of Adults Citing the Reason for Being UnbankedUrban Sprawl Encourages a Positive TidePrepaid Eye the UpmarketGaining Popularity among MillennialsConsumer Shift from Cash to Card Based Purchase Transactions Propels DemandRobust Rise of e-Commerce & m-Commerce to Support Market GrowthPandemic Fast Forwards eCommerce GrowthMarket Gains from Increased Retailer Acceptance of Card Based PaymentsVirtual Prepaid Payment Cards: Next Generation of PrepaidPrepaid Cards Offer Stiff Competition to Debit CardsPrepaid Payroll Cards Expected to Witness Robust GrowthRetailer Specific-Prepaid Cards Gain Popularity in Developed MarketsInnovations Sustain Growth in Gift Cards MarketRetailers Eye Gift Cards to Build Loyal CustomersGrowing Focus on Employee Rewards & Recognition to Spur Demand for Gift CardsWhy Companies Bet on Employee Rewards & Recognition?Gift Cards: A Compelling Employee Reward OptionAdvantages of Gift Cards for Employee Rewards & Recognition ProgramCohesive and Innovative Strategies: Key to Success of Gift Card Programs in RetailEase of Handling Drives Use of Digital Gift Cards for Incentives and Rewards ApplicationsOmni-channel Shopping is Here to StayPrepaid Travel Cards Grab EyeballsFueled by High Uptake and Technological Progress, Prepaid Cards Hold Rosier FutureChip Technology Makes Way into Prepaid Cards for Enhanced SecurityPrepaid Cards Provides Hope for Better Travel Insurance Services

Challenges & Issues

Dearth of Consumer Awareness: A Major ChallengeHigh and Non-Standard Fees – A Major Hindrance to GrowthNeed for Regulatory TabsIncreasing Frauds and Abetting Criminal Activity – The Achilles’ Heel of Prepaid Cards Business

Key Report Features

Full access to influencer engagement statsFree access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilitiesFull client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideasComplimentary report updates for one yearCompetitor coverage with global market shares of major playersPlayer market presence analysis (Strong/Active/Niche/Trivial) across multiple geographiesAccess to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

The report covers 250+ key competitors in the industry.  

A selection of featured companies include:

AT&T, Inc.Bank of America, N.A.ADP, Inc.Amadeus IT Group SAAxis Bank Ltd.American Express Companyallpay Ltd.BankableAllied WalletAsiaPay LimitedAxios Credit BankBitsaABNB Federal Credit UnionANGEL MastercardAllpoint Network

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Prepaid Cards – Global Key Competitors Percentage Market Share in 2023 (E)Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)A Prelude to Prepaid CardsComparison between Credit Card, Debit Card and Prepaid CardMarket SegmentsTypes of Prepaid CardsAdvantages and Disadvantages of Prepaid CardsGlobal Market Prospects & OutlookAddressing the Needs of the Unserved/Underserved: A Major Market DriverImproved Efficiencies and Transparency Drives Inclusion of Prepaid Cards in Commercial ProgramsBreaking Barriers to Ensure Broader Uptake of Digital Payments among ConsumersKey Growth FactorsKey Market RestraintsAnalysis by Geographic RegionWorld Prepaid Cards Market by Region: Percentage Breakdown of Gross Value for Developed and Developing Regions (2024 & 2030)World Prepaid Cards Market – Geographic Regions Ranked by CAGR (Value) for 2024-2030: China, Asia-Pacific, Latin America, Canada, Middle East, USA, Europe, Japan and AfricaAnalysis by SegmentWorld Prepaid Cards Market by Type (2024 & 2030): Percentage Breakdown of Gross Value for Closed Loop and Open LoopCompetitive ScenarioAn Insight into the Prepaid Card Value ChainPrepaid Value Chain: Role and Revenue Driver by CategoryEvolving Prepaid Value Chain amidst Changing EnvironmentRecent Market ActivitySelect Global Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

United StatesCanadaJapanChinaEuropeFranceGermanyItalyUnited KingdomSpainRussiaRest of EuropeAsia-PacificAustraliaIndiaSouth KoreaRest of Asia-PacificLatin AmericaArgentinaBrazilMexicoRest of Latin AmericaMiddle EastIranIsraelSaudi ArabiaUnited Arab EmiratesRest of Middle EastAfrica

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/8gzxkn

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