Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.
The India prepaid cards market size is expected to grow at a CAGR of about 40.5% between 2021 and 2026 and is estimated to reach USD 340 billion by 2026.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The India prepaid cards market is being driven by the rising disposable incomes of the consumers and the varied gift cards offered by companies and retail outlets. The monetary value of the prepaid card is stored on its own, so that such products do not require the opening of a direct deposit or credit account with a bank. Few prepaid cards are not rechargeable, that is, gift cards, so these cards are disposed of off after their virtual sum is completely utilised. On the other hand, rechargeable prepaid cards can be regularly replenished with funds. Prepaid cards can also be bought online as well as from retailers, such as supermarkets, gas stations, office supplies stores, and drug stores.
A prepaid card is a convenient form of payment, and it takes very little time or money to get one. Moreover, prepaid cards are an alternative to cash, provide protection, and make purchases easier for consumers.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Based on the card type, the market can be divided into:
The purpose of the industry can be segmented into:
Based on the vertical, the industry can be divided into:
The major regional markets included in the report are West and Central, South, North, and East India.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The India prepaid market is rapidly rising due to the booming urbanisation in the country. Due to the growing penetration of smartphones and the internet in the industry, India has seen tremendous growth in the e-commerce sector over the last decade, which has fuelled the growth of online payments through prepaid cards. The development of the industry was also driven by the demonetization and the government's promotion of a cashless economy. In addition, a growing number of organised retailers have also added to the expansion of the prepaid card market in India. Lowering airfares, along with rising per capita incomes, have led to a rising number of Indians travelling abroad, which has led to the growth of the prepaid travel cards in the country. Meal cards are also proving to be popular in the country due to major companies offering such cards like Sodexo and Zeta as a part of their employee benefits schemes.
The report gives a detailed analysis of the following key players in the India prepaid cards market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Card Type, Purpose, Vertical, Region|
|Breakup by Card Type||Open Loop Cards, Closed Loop Cards|
|Breakup by Purpose||Payroll/Incentive Cards, Travel Cards, General Purpose Reloadable (GPR) Cards, Remittance Cards, Others|
|Breakup by Vertical||Corporate/Organization, Retail, Government, Others|
|Breakup by Region||West and Central India, South India, North India, East India|
|Market Dynamics||SWOT, Porter's Five Forces, Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Axis Bank, ICICI Bank, State Bank of India, HDFC Bank, Punjab National Bank, Yes Bank, Kotak Mahindra Bank, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 India Prepaid Cards Market Snapshot
7 Opportunities and Challenges in the Market
8 India Prepaid Cards Market Analysis
8.1 Key Industry Highlights
8.2 India Prepaid Cards Historical Market (2018-2022)
8.3 India Prepaid Cards Market Forecast (2023-2028)
8.4 India Prepaid Cards Market by Card Type
8.4.1 Open Loop Cards
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.4.2 Closed Loop Cards
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.5 India Prepaid Cards Market by Purpose
8.5.1 Payroll/Incentive Cards
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.5.2 Travel Cards
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.5.3 General Purpose Reloadable (GPR) Cards
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.5.4 Remittance Cards
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.6 India Prepaid Cards Market by Vertical
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.7 India Prepaid Cards Market by Region
8.7.1 Market Share
184.108.40.206 West and Central India
220.127.116.11 South India
18.104.22.168 North India
22.214.171.124 East India
9 Regional Analysis
9.1 West and Central India
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 South India
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 North India
9.3.1 Historical Market (2018-2022)
9.3.2 Market Forecast (2023-2028)
9.4 East India
9.4.1 Historical Market (2018-2022)
9.4.2 Market Forecast (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Axis Bank
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
220.127.116.11 Financial Summary
11.2.2 ICICI Bank
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
188.8.131.52 Financial Summary
11.2.3 State Bank of India
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
22.214.171.124 Financial Summary
11.2.4 HDFC Bank
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
220.127.116.11 Financial Summary
11.2.5 Punjab National Bank
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
188.8.131.52 Financial Summary
11.2.6 Yes Bank
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
22.214.171.124 Financial Summary
11.2.7 Kotak Mahindra Bank
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
220.127.116.11 Financial Summary
12 Key Trends and Developments in the Market
List of Key Figures and Tables
1. India Prepaid Cards Market: Key Industry Highlights, 2018 and 2028
2. India Prepaid Cards Historical Market: Breakup by Card Type (USD Billion), 2018-2022
3. India Prepaid Cards Market Forecast: Breakup by Card Type (USD Billion), 2023-2028
4. India Prepaid Cards Historical Market: Breakup by Purpose (USD Billion), 2018-2022
5. India Prepaid Cards Market Forecast: Breakup by Purpose (USD Billion), 2023-2028
6. India Prepaid Cards Historical Market: Breakup by Vertical (USD Billion), 2018-2022
7. India Prepaid Cards Market Forecast: Breakup by Vertical (USD Billion), 2023-2028
8. India Prepaid Cards Historical Market: Breakup by Region (USD Billion), 2018-2022
9. India Prepaid Cards Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. India Prepaid Cards Market Structure
In the forecast period of 2023-2028, the India prepaid cards market projected to grow at a CAGR of nearly 40.5%.
By 2026, the market is estimated to reach USD 340 billion.
The major drivers of the market such as rising disposable incomes, increasing population, increasing urbanisation, growing penetration of smartphones, growing digitization, demonetization, and government policies encouraging a cashless economy are expected to aid the market growth.
The rising number of Indians travelling abroad and growing number of companies offering meal cards as a part of their employee benefits are the major trends driving the growth of the market.
The major regions in the markets are West and Central, South, North, and East India.
The leading card types in the market are open loop and closed loop cards.
The significant purpose types in the industry are payroll/incentive, travel, general purpose reloadable (GPR), and remittance cards, among others.
Corporate/organization, retail, and government, among others, are the dominant verticals in the market.
The key players in the market are Axis Bank, ICICI Bank, State Bank of India, HDFC Bank, Punjab National Bank, Yes Bank, and Kotak Mahindra Bank, among others.
The India prepaid cards market is driven by demonetization and government policy encouraging a cashless economy. Aided by the growing demand meal and travel prepaid cards, the market is expected to witness a robust growth in the forecast period of 2023-2028, growing at a CAGR of 40.5%. The market is projected to reach USD 340 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on the card type, the market can be segmented into open loop and closed loop cards. On the basis of purpose, the industry can be divided into payroll/incentive, travel, general purpose reloadable (GPR), and remittance cards, among others. Corporate/organization, retail, and government, among others, are the major verticals in the market. The major regional markets for prepaid cards in India are West and Central, South, North, and East India.The key players in the above market include Axis Bank, ICICI Bank, State Bank of India, HDFC Bank, Punjab National Bank, Yes Bank, and Kotak Mahindra Bank, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
Single User License
Five User License
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.