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Global Prepaid Card Market to 2030: American Express, Kaiku Finance, Mango Financia and Mastercard Dominate
Saturday, November 6, 2021
DUBLIN, Oct. 29, 2021 /PRNewswire/ -- The "Prepaid Card Market By Offering, Card Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
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Prepaid transactions have transitioned from simple paper vouchers to multi-purpose prepaid cards. This trend is expected to continue during the forthcoming years, owing to liquidity issues.
Multipurpose prepaid cards are gaining traction among consumers who do not have access to other forms of electronic payments such as debit or credit cards.
Moreover, rise in demand for cash alternatives and availability of affordable and energy-efficient prepaid cards drive the growth of the prepaid card market. In addition, developments in the e-commerce industry and increase in adoption of prepaid cards because of adding funds through multiple avenues fuel the growth of the market.
However, lack of standardization and fraudulent attacks hamper the growth of the market. Furthermore, increase in unbanked and underbanked population is expected to provide lucrative opportunities for the growth of the prepaid card industry. According to the Federal Deposit Insurance Corporation (FDIC) in 2018, 6.5% of the U.S. households were unbanked, which indicates that 8.4 million U.S. households are still left in the economy to operate without bank account. Generally, this population opts for prepaid cards as these cards are safe, inexpensive, and essential banking substitutes to cater to their financial transaction needs.
Rise in demand for cash alternatives, increase in number of internet users, and rise in adoption of prepaid cards due to adding funds through multiple avenues are the major factors that drive the growth of the global prepaid card market. Moreover, lack of standardization hamper the growth of the market. Furthermore, increase in unbanked and under banked population is expected to provide lucrative opportunities for the market expansion during the forecast period.
The prepaid card industry is categorized on the basis of offering, card type, end user, and region. By offering, the market is bifurcated into general purpose card, gift card, government benefit/disbursement card, incentive/payroll card, and others. By card type, it is classified into closed loop card, and open loop card. By end user, the market is analyzed across retail, corporate, and government/public sector. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the market report are American Express Company, BBVA USA BANCSHARES, INC., BRINK'S Incorporated, Green Dot Corporation, H&R Block Inc., JPMorgan Chase & Co., Kaiku Finance LLC., Mango Financial, Inc., MasterCard, and PayPal Holdings, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
-- This study includes the prepaid card market analysis, prepaid card
market trends, and future estimations to determine the imminent
investment pockets.
-- The report presents information related to key drivers, restraints, and
prepaid card market opportunity.
-- The prepaid card market size is quantitatively analysed from 2019 to
2030 to highlight the financial competency of the industry.
-- Porter's five forces analysis illustrates the potency of buyers &
suppliers in the prepaid card market.
Key Findings of the Study:
-- By card type, the closed loop prepaid card segment led the market, in
terms of revenue in 2019.
-- By usage, the general-purpose reloadable card segment accounted for the
highest prepaid card market share in 2019.
-- By region, North America generated the highest revenue in 2019.
Companies Mentioned
-- American Express Company
-- BBVA USA Bancshares Inc.
-- Brink's Incorporated
-- Green Dot Corporation
-- H&R Block Inc.
-- JPMorgan Chase & Co.
-- Kaiku Finance LLC.
-- Mango Financial Inc.
-- MasterCard
-- PayPal Holdings Inc.
For more information about this report visit https://www.researchandmarkets.com/r/c74w36
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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View original content:https://www.prnewswire.com/news-releases/global-prepaid-card-market-to-2030-american-express-kaiku-finance-mango-financia-and-mastercard-dominate-301411898.html
SOURCE Research and Markets
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