China Prepaid Cards Market Outlook, Industry Drivers, Growth Strategies and Business Statistics 2022-2027

The latest report by IMARC Group, titled "China Prepaid Cards Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on China Prepaid Cards market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The China prepaid cards market size reached US$ 333 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 527 Billion by 2027, exhibiting a growth rate (CAGR) of 7.9% during 2022-2027.

Prepaid cards represent cashless payment methods and are a suitable alternative for credit or debit card transactions. These cards come with previously deposited cash balances and are not required to be linked to a bank account. Prepaid cards can be of numerous types, such as travel cards, gift cards, general purpose reloadable (GPR) cards, gaming cards, etc. Most of these cards can be replenished with cash repeatedly. Prepaid cards are much more secure than cash payments, conveniently available to individuals regardless of their credit rating, and prove effective in budget management. Consequently, they are extensively utilized by consumers across China.

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China Prepaid Cards Market Trends:

The elevating number of internet users and the expanding e-commerce industry are primarily driving the China prepaid cards market. In addition to this, the escalating awareness among employees about using these cards as a useful tax-saving tool is also positively influencing the market across the country. Besides this, the increasing ease of access and the growing unbanked and underbanked population are acting as significant growth-inducing factors. Moreover, the introduction of several innovative prepaid card products, including crypto-based prepaid cards and contactless transit cards, is further stimulating the market across China. Apart from this, the launch of favorable policies and initiatives by the government bodies aimed at injecting gift cards into the economy to promote the usage of digital yuan and the development of cost-effective, secure, and high-quality cross-border payment services by various companies to motivate the consumers to shift towards cashless payment solutions are expected to stimulate the China prepaid cards market over the forecasted period.

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China Prepaid Cards Market Segmentation:

Our report has categorized the market based on region, card type, purpose and vertical.

Breakup by Card Type:
• Closed Loop Cards
• Open Loop Cards

Breakup by Purpose:
• Payroll/Incentive Cards
• Gift Cards
• Travel Cards
• General Purpose Reloadable (GPR) Cards
• Others

Breakup by Vertical:
• Retail
• Corporate/Organization
• Government
• Others

Breakup by Region:
• Guangdong
• Jiangsu
• Shandong
• Zhejiang
• Others

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.