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Global Prepaid Card Market: By Card Type: Closed Loop, Open Loop; By Usage: General-Purpose Reloadable Card, Gift-Card, Government Benefit/Disbursement Card, Others; By Industry; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Prepaid Card Market Outlook

The global prepaid card market stood at a value of around USD 2115 billion in 2020. The market is further expected to grow at a CAGR of 14.6% in the forecast period of 2022-2027 to attain a value of USD 4791 billion by 2026.

 

Global Prepaid Card Market

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Rising Demand for Open Loop Cards Owing to their Benefits to Bolster the Growth of the Prepaid Card Industry

Based on type, open loop prepaid cards are anticipated to witness a significant growth over the forecast period owing to their various advantages. These advantages include the immediate availability and universal acceptability of the funds. These cards are an excellent tool to manage budget and transactions because a set amount is loaded in such cards in advance. At the time of the struggling economy, owing to the COVID-19 outbreak, prepaid cards remained free from costly overdraft fees and interest charges, which resulted in their increased utilisation among consumers. Furthermore, many governments have commissioned prepaid cards to support their citizens and respond to the global pandemic by distributing several aid packages quickly and securely, with no exclusion for the unbanked.  Open loop card proves to be profitable in such cases as it offers competitive card acceptance fees and next-day settlement. Owing to these factors, open loop cards are likely to witness a significant demand in the forecast period.

 

Growing Adoption of General-Purpose Reloadable Cards for Bill Payments to Augment the Market Growth

On the basis of usage, general-purpose reloadable cards are likely to account for a significant share in the market, owing to the rising adoption of this type of card for utility bill payments, online shopping, ticket bookings, and cash withdrawal, among others. The considerable growth of the retail sector in emerging economies of the world owing to the development of retail stores is expected to provide a further impetus to the market growth in the forecast period.

 

North America Accounts for a Significant Share in the Market

Region-wise, North America holds a significant share in the industry. The increased awareness regarding the benefits of prepaid cards and the favourable government regulations, especially in countries like the United States and Canada, have been propelling the demand for prepaid cards in the region. Over the forecast period, the rapid technological developments and ease in payment methods are anticipated to aid the market growth.

 

Prepaid Card: Market Segmentation

Prepaid card is defined as a stored-value card that is used to make purchases and pay bills, just like debit or credit cards. Backed by major card networks, prepaid cards are excepted everywhere. An individual can buy such cards with money loaded in it, along with the convenience to recharge or put more money in the card.

 

Global Prepaid Card Market by Segment

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Based on card type, the market is divided into:

  • Closed Loop
  • Open Loop

On the basis of usage, the industry is segmented into:

  • General-Purpose Reloadable Card
  • Gift-Card
  • Government Benefit/Disbursement Card
  • Incentive/Payroll Card
  • Others

By industry, the market is divided into:

  • Retail Establishments
  • Corporate Institutions
  • Government
  • Financial Institutions and Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Prepaid Card Market by Region

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Growing Acceptance of Prepaid Card in Various Industries, such as Retail and Financial Institutions, to Boost the Growth of the Prepaid Card Industry

The global prepaid card industry is driven by the rising acceptance and usage of the product in retail and financial institutions, among others. The rising consumer preference for cashless payments in retail establishments, owing to the convenience factor, is aiding the market growth. The use of prepaid cards provides convenience, which is resulting in their increased adoption. Furthermore, the market is expected to be aided by the constant lookout of leading players to develop improved solutions for cashless payments. In addition, the market is anticipated to be aided by the growing number of internet users and the steady growth of the e-commerce industry.

 

Key Industry Players in the Global Prepaid Card Market

The report gives a detailed analysis of the following key players in the global prepaid card market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • American Express Company
  • Banco Bilbao Vizcaya Argentaria, S.A.
  • Green Dot Bank
  • Kaiku Finance, LLC
  • Mango Financial, Inc.
  • JPMorgan Chase & Co.
  • Others

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.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Card Type, Usage, Industry, Region
Breakup by Card Type Closed Loop, Open Loop
Breakup by Usage General-Purpose Reloadable Card, Gift-Card, Government Benefit/Disbursement Card, Incentive/Payroll Card, Others
Breakup by Industry Retail Establishments, Corporate Institutions, Government, Financial Institutions and Others
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
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 American Express Company, Banco Bilbao Vizcaya Argentaria, S.A., Green Dot Bank, Kaiku Finance, LLC, Mango Financial, Inc., JPMorgan Chase & Co., 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.

 

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Prepaid Card Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Prepaid Historical Market (2017-2021) 
    8.3    Global Prepaid Card Market Forecast (2022-2027)
    8.4    Global Prepaid Card Market by Card Type
        8.4.1    Closed Loop
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Open Loop
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Prepaid Card Market by Usage
        8.5.1    General-Purpose Reloadable Card
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Gift-Card
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Government Benefit/Disbursement Card
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Incentive/Payroll Card
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2017-2021)
            8.5.4.3    Forecast Trend (2022-2027)
        8.5.5    Others
    8.6    Global Prepaid Card Market by Industry
        8.6.1    Retail Establishments
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Corporate Institutions
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Government
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Financial Institutions and Others
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
    8.7    Global Prepaid Card Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
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    Buyer’s 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    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    American Express Company
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Banco Bilbao Vizcaya Argentaria, S.A.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Green Dot Bank
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Kaiku Finance, LLC
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Mango Financial, Inc.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    JPMorgan Chase & Co.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Prepaid Card Market: Key Industry Highlights, 2016 and 2026
2.    Global Prepaid Card Historical Market: Breakup by Card Type (USD Billion), 2017-2021
3.    Global Prepaid Card Market Forecast: Breakup by Card Type (USD Billion), 2022-2027
4.    Global Prepaid Card Historical Market: Breakup by Usage (USD Billion), 2017-2021
5.    Global Prepaid Card Market Forecast: Breakup by Usage (USD Billion), 2022-2027
6.    Global Prepaid Card Historical Market: Breakup by Industry (USD Billion), 2017-2021
7.    Global Prepaid Card Market Forecast: Breakup by Industry (USD Billion), 2022-2027
8.    Global Prepaid Card Historical Market: Breakup by Region (USD Billion), 2017-2021
9.    Global Prepaid Card Market Forecast: Breakup by Region (USD Billion), 2022-2027
10.    North America Prepaid Card Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    North America Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Europe Prepaid Card Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Europe Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Asia Pacific Prepaid Card Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Asia Pacific Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Latin America Prepaid Card Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Latin America Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Middle East and Africa Prepaid Card Historical Market: Breakup by Country (USD Billion), 2017-2021
19.    Middle East and Africa Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2022-2027
20.    Global Prepaid Card Market Structure

Key Questions Answered in the Report

In 2020, the global prepaid cards market attained a value of nearly USD 2115 billion.

The market is estimated to witness a healthy growth at a CAGR of 14.6% between 2022 and 2027.

The market is being aided by the extensive availability of prepaid cards, the growing demand for open loop cards, and the increasing adoption of general-purpose reloadable cards for bill payment.

The industry is projected to be propelled by the rising acceptance of prepaid cards, the growing preference for cashless payments, and the robust growth of the e-commerce industry.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Closed loop and open loop are the major card types of the product.

General-purpose reloadable card, gift-card, government benefit/disbursement card, and incentive/payroll card, among others, are the different usages of the product.

Retail establishments, corporate institutions, government, financial institutions and others, are the significant industries of prepaid cards in the market.

The major players in the industry are American Express Company, Banco Bilbao Vizcaya Argentaria, S.A., Green Dot Bank, Kaiku Finance, LLC, Mango Financial, Inc., and JPMorgan Chase & Co., among others.

Analyst Review

The global prepaid cards market attained a value of about USD 2115 billion in 2020, driven by the rising application of the prepaid cards in various industries such as retail and corporate. Aided by the robust growth of the e-commerce industry, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 14.6%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on card type, the market is bifurcated into closed loop and open loop. On the basis of usage, the market is divided into general-purpose reloadable card, gift-card, government benefit/disbursement card, and incentive/payroll card, among others. By industries, the market is classified into retail establishments, corporate institutions, government, and financial institutions and others. The major regional markets for prepaid cards are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include American Express Company, Banco Bilbao Vizcaya Argentaria, S.A., Green Dot Bank, Kaiku Finance, LLC, Mango Financial, Inc., and JPMorgan Chase & Co., 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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