Prepaid Card Market Research Report

India has great growth potential for different types of electronics payments with Government of India opening up a whole new set of banking services through new technology under the Digital India initiative. With a number of mobile wallets being launched in last 12 months, Indian consumers have plenty of options to choose from. However, for merchants it has created a need for a single solution that is interoperable and supports every form of digital payment available in the country.

Prepaid debit cards have emerged as an alternative method of payment for those who don’t have or use a bank account. Prepaid card users are primarily the unbanked and the underbanked.

Gift Card are increasingly being used by merchants and corporates to achieve different business objectives ranging from increasing brand loyalty, attracting new customers, incentivizing customers and employees and increasing employee morale.

South East Asia’s largest mobile operator Telkomsel Indonesia, entered into a partnership with Finnet Indonesia and Verifone Mobile Money to launch TCash Tap mobile wallet in Indonesia in 2015, to target Telkomsel's more than 140 million subscribers to tap and pay using their mobile phones.

With prepaid cards witnessing a high growth rate in the US, competition is becoming intense in the category. Card issuers are trying to attract customers by offering innovative features and services.

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Growth of prepaid cards in China is expected decelerate along with other card categories due to uncertain economic conditions in the country.

Prepaid cards continue to be a niche payment card category in India. This segment has witnessed high adoption over the last five years and is expected to continue recording strong growth over the forecast period as well. The Gross Dollar Value (GDV) of Indian prepaid cards is expected to reach USD 34.4 billion by 2020, posting a CAGR of 24.4% from 2016 to 2020.

Across Southeast Asian markets, internet penetration and access to smartphones have been growing at a rapid pace. This has resulted in…

Despite the shake-up in the crypto market, Visa and Mastercard have continued to ink new alliances with crypto startups worldwide. Both of these payment giants are positioning themselves to become major players in the crypto space.

The trend of online shopping is projected to accelerate over the next five years in the global market. Driven by the pandemic, consumers worldwide have continued to shop for products online in 2022.

In value terms, the gift card market in Global has recorded a CAGR of 8.0% during 2018–2022. According to PayNXT360, global gift card industry is expected to grow by 8.1% on annual basis to reach US$ 511019.3 million in 2023.

In the Middle East, buy now pay later schemes are becoming increasingly popular, especially among young generation consumers.

The B2B BNPL market is growing at a rapid rate amid the current macroeconomic environment. With traditional lending becoming increasingly challenging for many businesses, BNPL has emerged as a viable alternative for managing cash flow and expenses.

Ever since the pandemic outbreak, the e-commerce industry landscape has undergone a major revamp, with social commerce emerging as the next growth driver for the global market. Players such as Meta, Google, and Amazon all made a major push in the segment to tap into the high-growth potential of the social commerce industry.

Due to South Africa’s advanced banking sector, rigid regulatory framework and a lack of demand, Vodacom’s mobile money product M-Pesa exited the South African market. However, market dynamics are changing, driven by country specific mobile payment solutions. According to PayNXT360, the South African mobile payment market is expected to record a CAGR of 35.6% from 2016-2020 to reach US$ 14 billion in transaction value terms by 2020.

The global formal remittance market is estimated by the World Bank to be valued at US$ 375 billion, of which over three quarters flows into developing countries. Remarkably, geographic branch and ATM penetration is lowest in developing markets while mobile subscription growth rates are at the highest level.

Fare collections in mass transit systems across the globe are evolving from cash-based fare collection systems to contactless smart card-based systems with transport authorities looking for means to make fare collections easier, cheaper and more flexible. PayNXT360, expects public –private partnership to be one of the key drivers for growth of open loop prepaid cards in the transit and tolls segment.

According to PayNXT360, prepaid card driven expense management platforms are driving growth of business and administrative expense management category. This segment is expected to grow at over 30-35% with adoption surging for both SMB and enterprise businesses.

Argentina is the third largest e-commerce market in Latin America that observed US$ 5.3 billion of sales in 2015. The country is poised to overtake Mexico as the second largest retail e-commerce market in the region over the forecast period with a CAGR of 40 percent during 2016-2020.

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The Online to Offline (O2O) commerce thrives on connectivity. It serves as the lifeline for establishing and increasing customer base. It includes the physical delivery of goods for online purchases and virtual connections which occur during the purchases.

Develop strategy on the basis of a comprehensive view of prepaid card payment market size and growth dynamics. Also industry dynamics, retail spending, consumer attitudes, and behavior, and the competitive landscape. Our Prepaid Card Market Intelligence Platform analyzes payment strategy, innovation, and consumer behavior to help clients identify unique revenue opportunities.