Prepaid Card Market Competitive Analysis, Demand, Future Prospects and Growth Forecast 2030: American Express Company, BBVA Compass Bancshares Inc., Green Dot Corporation

Global Prepaid Card Market 2021 research report offers qualitative and quantitative insights in relation to industry growth rate, market segmentation, Prepaid Card market size, demand and revenue. The current Prepaid Card market trends that are expected to influence the future prospects of the industry are analyzed in the report. The report further investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

The global prepaid card market is expected to grow from $12.99 billion in 2020 to $13.87 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $21.22 billion in 2025 at a CAGR of 11.2%.

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Scope of this Report:

1) By Type: General-Purpose Reloadable Card; Prepaid Gift Card; Government Benefit Card; Payroll Card; Others2) By Card Type: Open Loop Prepaid Card; Closed Loop Prepaid Card3) By Application: Retail Establishments; Corporate Institutions; Government; Others
Companies Mentioned: American Express Company; BBVA Compass Bancshares Inc.; Green Dot Corporation; JPMorgan Chase & Co.; Kaiku Finance LLC.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Industry News:

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 enable Prepaid Financial Services Limited to offer an enhanced service to existing and future Payroll and Corporate clients. Barclaycard is a UK-based financial services company that helps consumers, retailers, and businesses to make and take payments flexibly, and to access short-term credit and point of sale finance.

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Executive Summary:

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. Increasing 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. According to the 2019 Federal Reserve Payments Study, the number of prepaid debit card payments increased to 13.8 billion with a value of $0.38 trillion in 2018. Prepaid cards are similar to debit cards and permit the consumer to spend money up to the amount loaded on the card for making purchases, gas bills, shopping, and paying online bills. Therefore, increasing usage of prepaid cards is expected to propel the growth of the prepaid card market in the coming years.

Regional Analysis For Prepaid Card Market:

North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Market

– Changing market dynamics of the industry

– In-depth market segmentation by Type, Application etc.

– Historical, current and projected market size in terms of volume and value

– Recent industry trends and developments

– Competitive landscape of Market

– Strategies of key players and product offerings

– Potential and niche segments/regions exhibiting promising growth

The research includes historic data from 2015 to 2021 and forecasts until 2030 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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