Reports

India Prepaid Cards Market: By Card Type: Open Loop Cards, Closed Loop Cards; By Purpose: Payroll/Incentive Cards, Travel Cards, General Purpose Reloadable (GPR) Cards, Remittance Cards; By Vertical; Regional Analysis; Historical Market and Forecast (2015-2025); Market Dynamics; Competitive Landscape; Industry Events and Developments

India Prepaid Cards Market Outlook

The India prepaid cards market size is expected to grow at a CAGR of about 40.5% between 2020 and 2025 and is estimated to reach USD 340 billion by 2025.

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.

 

Properties and Applications

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.

Based on the card type, the market can be divided into:

  • Open Loop 
  • Closed Loop 

The purpose of the industry can be segmented into:

  • Payroll/Incentive 
  • Travel 
  • General Purpose Reloadable (GPR) 
  • Remittance 
  • Others

Based on the vertical, the industry can be divided into:

  • Corporate/Organization
  • Retail
  • Government
  • Others

The major regional markets included in the report are West and Central, South, North, and East India.

 

Market Analysis

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.

 

Competitive Landscape 

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:

  • Axis Bank
  • ICICI Bank
  • State Bank of India
  • HDFC Bank
  • Punjab National Bank
  • Yes Bank
  • Kotak Mahindra Bank
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
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

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    India Prepaid Cards Market Snapshot
7    Industry Opportunities and Challenges
8    India Prepaid Cards Market Analysis

    8.1    Key Industry Highlights
    8.2    India Prepaid Cards Historical Market (2015-2019) 
    8.3    India Prepaid Cards Market Forecast (2020-2025)
    8.4    India Prepaid Cards Market by Card Type
        8.4.1    Open Loop Cards
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2015-2019)
            8.4.1.3    Forecast Trend (2020-2025)
        8.4.2    Closed Loop Cards
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2015-2019)
            8.4.2.3    Forecast Trend (2020-2025)
    8.5    India Prepaid Cards Market by Purpose
        8.5.1    Payroll/Incentive Cards
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2015-2019)
            8.5.1.3    Forecast Trend (2020-2025)
        8.5.2    Travel Cards
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2015-2019)
            8.5.2.3    Forecast Trend (2020-2025)
        8.5.3    General Purpose Reloadable (GPR) Cards
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2015-2019)
            8.5.3.3    Forecast Trend (2020-2025)
        8.5.4    Remittance Cards
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2015-2019)
            8.5.4.3    Forecast Trend (2020-2025)
        8.5.5    Others
    8.6    India Prepaid Cards Market by Vertical
        8.6.1    Corporate/Organization
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2015-2019)
            8.6.1.3    Forecast Trend (2020-2025)
        8.6.2    Retail
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2015-2019)
            8.6.2.3    Forecast Trend (2020-2025)
        8.6.3    Government
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2015-2019)
            8.6.3.3    Forecast Trend (2020-2025)
        8.6.4    Others
    8.7    India Prepaid Cards Market by Region
        8.7.1    Market Share
            8.7.1.1    West and Central India
            8.7.1.2    South India
            8.7.1.3    North India
            8.7.1.4    East India
9    Regional Analysis
    9.1    West and Central India
        9.1.1    Historical Trend (2015-2019)
        9.1.2    Forecast Trend (2020-2025)
    9.2    South India
        9.2.1    Historical Trend (2015-2019)
        9.2.2    Forecast Trend (2020-2025)
    9.3    North India
        9.3.1    Historical Market (2015-2019)
        9.3.2    Market Forecast (2020-2025)
    9.4    East India
        9.4.1    Historical Market (2015-2019)
        9.4.2    Market Forecast (2020-2025)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    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    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Axis Bank
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Financial Summary
            11.2.1.5    Certifications
        11.2.2    ICICI Bank
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Financial Summary
            11.2.2.5    Certifications
        11.2.3    State Bank of India
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Financial Summary
            11.2.3.5    Certifications
        11.2.4    HDFC Bank
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Financial Summary
            11.2.4.5    Certifications
        11.2.5    Punjab National Bank
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Financial Summary
            11.2.5.5    Certifications
        11.2.6    Yes Bank
            11.2.6.1    Company Overview
            11.2.6.2    Product Portfolio
            11.2.6.3    Demographic Reach and Achievements
            11.2.6.4    Financial Summary
            11.2.6.5    Certifications
        11.2.7    Kotak Mahindra Bank
            11.2.7.1    Company Overview
            11.2.7.2    Product Portfolio
            11.2.7.3    Demographic Reach and Achievements
            11.2.7.4    Financial Summary
            11.2.7.5    Certifications
        11.2.8    Others
12    Industry Events and Developments


List of Figures and Tables

1.    India Prepaid Cards Market: Key Industry Highlights, 2015 and 2025
2.    India Prepaid Cards Historical Market: Breakup by Card Type (USD Billion), 2015-2019
3.    India Prepaid Cards Market Forecast: Breakup by Card Type (USD Billion), 2020-2025
4.    India Prepaid Cards Historical Market: Breakup by Purpose (USD Billion), 2015-2019
5.    India Prepaid Cards Market Forecast: Breakup by Purpose (USD Billion), 2020-2025
6.    India Prepaid Cards Historical Market: Breakup by Vertical (USD Billion), 2015-2019
7.    India Prepaid Cards Market Forecast: Breakup by Vertical (USD Billion), 2020-2025
8.    India Prepaid Cards Historical Market: Breakup by Region (USD Billion), 2015-2019
9.    India Prepaid Cards Market Forecast: Breakup by Region (USD Billion), 2020-2025
10.    India Prepaid Cards Market Structure

Key Questions Answered in the Report

In the forecast period of 2020-2025, the India prepaid cards market projected to grow at a CAGR of nearly 40.5%.

By 2025, 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.

Analyst Review

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 2020-2025, growing at a CAGR of 40.5%. The market is projected to reach USD 340 billion by 2025. 

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.  

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