Prepaid Card Market OverviewA prepaid card is used to pay for things. It is also called a prepaid debit card, or a stored-value card. Prepaid card reduces the risk of overspending as compared to credit cards. These prepaid cards can load easily through many platforms in various ways including bank account transfers, direct deposit, or cash both online and in person. In addition, corporates are also looking more for cash alternatives for the daily transaction. Prepaid cards offer unbanked consumers to access important payment services. All these factors are expected to fuel the market growth.
Financial institutions are allowing the use of prepaid credit cards in automated teller machines (ATM) and point of sale (POS) terminals. Prepaid credit card abolishes the fee and interest associated with normal credit cards. Prepaid credit cards are available in different forms in the market depending upon the type of application. The huge acceptance of internet technology in the banking sector is expected to boost the demand for cashless transactions among banking customers. The banking sector is trying to overcome issues like the use of traditional banking products such as cheques and demand drafts by offering prepaid credit cards. This is one of the major reasons facilitating market development.
The increasing development of the e-commerce industry has forced customers to use plastic money instead of keeping cash. A large number of consumers are using a prepaid debit card for online shopping, traveling, or gifting. Thus, this is expected to increase the demand for prepaid cards in the electronic payment industry.
On the other hand, lack of standardization may hamper the growth of the market. The Growing awareness about the utilization of cards is opening new growth opportunities for the market. Furthermore, increasing support from private organizations for the cashless transaction is booting the prepaid card market in the forthcoming years.
Prepaid Card Market Segment OverviewThe closed-loop prepaid card segment has significant market growth. This is due to the increasing adaptation of closed-loop prepaid card by travelers, retailers, and students. Additionally, the open-loop prepaid card is also used mostly due to its various features such as the low risk of fraud, easy accessibility, and low-interest charges. Gift card are the most commonly used for purchasing items in the market through POS terminal or online shopping. A payroll card is another type of prepaid credit card which is used to pay salaries, incentives, and reimbursements to employees. In addition, the financial institutions are now providing forex, traveling, and reward card according to the customer’s requirement. Furthermore, the rising demand for cash alternatives and accessibility of affordable and energy-efficient prepaid cards drive the growth of the global prepaid card market.
Prepaid Card Market Regional OverviewBased on region, North America has dominated the prepaid card market in 2019 and is expected to hold its position during the forecast period. The major reasons that drive the growth of the market are the rising adaptation of prepaid card and favorable government rules and regulations for prepaid card. However, the market of the Asia Pacific is projected to grow at the fastest rate owing to an increase in applications for retail institutions, governments, and corporate institutions and supportive government policies in Asia-Pacific countries.
Prepaid Card Market Competitor overviewMajor players operating in the industry are focusing on various strategic initiatives such as partnerships and collaborations which are gaining significant popularity in the prepaid card market.
Ø For instance, in November 2020, MobiKwik collaborated with American Express (Amex) card network to introduce its first virtual prepaid payments card with a flexible credit limit. With the launching of the prepaid payment card, MobiKwik becomes the first non-bank in India to issue cards.
Ø In March 2019, Prepaid Financial Services Limited, a London-based financial services company acquired a physical prepaid card portfolio of Barclaycard in the UK for an undisclosed amount. This acquisition will allow Prepaid Financial Services Limited to offer the best service to existing and future Payroll and Corporate clients.
Prepaid Card Market, Key Players· Visa, Inc.
· American Express Company
· MasterCard Inc.
· Kaiku Finance, LLC.
· Mango Financial, Inc.
· Total System Services, Inc.
· Citigroup
· The PNC Financial Services Group, Inc.
· BBVA Compass Bancshares, Inc.
· Green Dot Corporation
· H&R Block Inc.
· JPMorgan Chase & Co.
· NetSpend Holdings, Inc.
· PayPal Holdings, Inc.
· UniRush, LLC.
Prepaid Card Market SegmentationPrepaid Card Market, By Card Type
· Open Loop Prepaid Card
· Closed Loop Prepaid Card
Prepaid Card Market, By Usage
· General-purpose Reloadable Card
· Gift Card
· Government Benefit/Disbursement card
· Payroll Card
· Others
Prepaid Card Market, By End User
· Retail Establishments
· Corporate Institutions
· Government
· Financial Institutions & Others
Prepaid Card market, By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
List of Figures
Figure 1: Global Prepaid Card Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Prepaid Card Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Prepaid Card Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Prepaid Card Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Prepaid Card Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Prepaid Card Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Prepaid Card Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Prepaid Card Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Prepaid Card Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Prepaid Card Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Prepaid Card Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Prepaid Card Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Prepaid Card Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Prepaid Card Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Prepaid Card Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Prepaid Card Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Prepaid Card Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Prepaid Card Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Prepaid Card Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Prepaid Card Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Prepaid Card Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Prepaid Card Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Prepaid Card Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Prepaid Card Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Prepaid Card Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Prepaid Card Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Prepaid Card Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Prepaid Card Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Prepaid Card Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Prepaid Card Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Prepaid Card Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Prepaid Card Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Prepaid Card Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Prepaid Card Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Prepaid Card Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Prepaid Card Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Prepaid Card Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Prepaid Card Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Prepaid Card Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Prepaid Card Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Prepaid Card Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Prepaid Card Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Prepaid Card Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
