Global Prepaid Card Market Report 2022 – Market Forecast, Trends And Strategies

The global prepaid card market size is expected to grow from $13.79 billion in 2021 to $15.25 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The global prepaid cards market size is then expected to grow to $22.11 billion in 2026 at a CAGR of 9.7%.

What is the Global Prepaid Card Market?

The prepaid card market consists of sales of prepaid card services by entities (organizations, sole traders, and partnerships) that are engaged in storing, processing, and transmitting payment card data. Prepaid cards are preloaded payment cards issued by financial institutions that can be used to make both online and in-store payments. Once the amount loaded on the card is used, it may be disposed of (non-reloadable prepaid card) or reloaded (reloadable prepaid card) by the cardholder. The prepaid card may be open-loop or closed-loop. While an open-loop prepaid card can be used at any location accepting card, a closed-loop prepaid card can only be used at certain locations such as a specific store or a group of stores. Only goods and services traded between entities or sold to end consumers are included.

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What drives the Global Prepaid Card Market?

Increasing the use of prepaid cards as a substitute for traditional bank cards is a key factor driving the growth of the prepaid card market. A prepaid card is not connected to a bank checking account or a draught account for a credit union share, instead, users invest money in advance deposited in the prepaid card account. Therefore, increasing usage of prepaid cards is expected to propel the growth of the prepaid card market in the coming years.

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Global Prepaid Card Market Segments
The global prepaid card market is segmented:
By Type: General Purpose Reloadable Card, Prepaid Gift Card, Government Benefit Card, Payroll Card, Others
By Card Type: Open Loop Prepaid Card, Closed Loop Prepaid Card
By Application: Retail Establishments, Corporate Institutions, Government, Others
By Geography: The regions covered in the prepaid card market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia Pacific accounts for the largest share in the global prepaid card market.

Prepaid Card Global Market Report 2022provides market size and growth forecasts for the global prepaid card market, global prepaid card market share, prepaid card global market segments and geographies, prepaid card global market competitive landscape including leading competitors’ revenues, profiles and market shares. The prepaid card global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Prepaid Card Industry Playersinclude American Express Company, BBVA Compass Bancshares Inc., Green Dot Corporation, JPMorgan Chase & Co., Kaiku Finance LLC., Mango Financial Inc, NetSpend Holdings Inc, PayPal Holdings Inc, UniRush LLC, and Master Card Incorporated. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.