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Global Prepaid Card Market Size, Statistics, Analysis: By Card Type: Closed Loop, Open Loop; By Usage: General-Purpose Reloadable Card, Gift-Card, Government Benefit/Disbursement Card, Incentive/Payroll Card, Others; By Industry: Retail Establishments, Corporate Institutions, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Prepaid Card Market Outlook
The global prepaid card market stood at a value of around USD 2,777.66 billion in 2023. The market is further expected to grow at a CAGR of 14.6% in the forecast period of 2024-2032 to attain a value of USD 6,292.1 billion by 2032.
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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.
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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.
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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 | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| 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. |
*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.
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 Opportunities and Challenges in the Market
8 Global Prepaid Card Market Analysis
8.1 Key Industry Highlights
8.2 Global Prepaid Historical Market (2018-2023)
8.3 Global Prepaid Card Market Forecast (2024-2032)
8.4 Global Prepaid Card Market by Card Type
8.4.1 Closed Loop
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Open Loop
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Prepaid Card Market by Usage
8.5.1 General-Purpose Reloadable Card
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Gift-Card
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Government Benefit/Disbursement Card
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Incentive/Payroll Card
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Prepaid Card Market by Industry
8.6.1 Retail Establishments
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Corporate Institutions
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Government
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Financial Institutions and Others
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.7 Global Prepaid Card Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Prepaid Card Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Prepaid Card Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Prepaid Card Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Prepaid Card Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Prepaid Card Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 American Express Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Banco Bilbao Vizcaya Argentaria, S.A.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Green Dot Bank
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Kaiku Finance, LLC
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Mango Financial, Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 JPMorgan Chase & Co.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Prepaid Card Market: Key Industry Highlights, 2018 and 2032
2. Global Prepaid Card Historical Market: Breakup by Card Type (USD Billion), 2018-2023
3. Global Prepaid Card Market Forecast: Breakup by Card Type (USD Billion), 2024-2032
4. Global Prepaid Card Historical Market: Breakup by Usage (USD Billion), 2018-2023
5. Global Prepaid Card Market Forecast: Breakup by Usage (USD Billion), 2024-2032
6. Global Prepaid Card Historical Market: Breakup by Industry (USD Billion), 2018-2023
7. Global Prepaid Card Market Forecast: Breakup by Industry (USD Billion), 2024-2032
8. Global Prepaid Card Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Prepaid Card Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Prepaid Card Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Prepaid Card Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Prepaid Card Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Prepaid Card Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Prepaid Card Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Prepaid Card Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Prepaid Card Market Structure
Key Questions Answered in the Report
In 2023, the global prepaid cards market attained a value of nearly USD 2,777.66 billion.
The market is estimated to witness a healthy growth at a CAGR of 14.6% between 2024 and 2032.
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 2,777.66 billion in 2023, 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 2024-2032, 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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