Japan Prepaid Cards Market Expected to Rise at a CAGR of 20.1% during 2022-2027

According to IMARC Group latest report titled" Japan Prepaid Cards Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on Japan Prepaid Cards market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Japan prepaid cards market size reached US$ 76.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 231.5 Billion by 2027, exhibiting a growth rate (CAGR) of 20.1% during 2022-2027.

Prepaid cards represent a payment card that has previously deposited cash balance and is utilized as an alternative to cash payment. In terms of purpose, prepaid cards can be of several types, such as travel cards, general purpose reloadable (GPR) cards, gift cards, gaming cards, etc. These prepaid cards do not require the opening of a direct lending or deposit account with a bank. Most of these cards are reloadable and can be replenished with funds repeatedly. Prepaid cards payment solutions are much safer, require no credit check, and even act as an effective budgeting tool. Consequently, they are extensively used by consumers in Japan.

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Market Trends:

The growing e-commerce sectors and the shifting preferences among individuals toward online payments are primarily driving the Japan prepaid cards market. In addition to this, the emerging trend among modern retail facilities, including supermarkets, hypermarkets, convenience stores, etc., of offering reward schemes and loyalty programs with prepaid cards for motivating the customers to gravitate toward cashless payment options is also positively influencing the market across the country. Furthermore, the escalating focus among the merchants on ways to expand their closed-loop prepaid cards to other networks such as highway service stations, airports, vending machines is acting as another significant growth-inducing factor. Apart from this, the increasing product usage for numerous micropayments and the elevating partnerships between leading prepaid companies with mobile wallet organizations to improve acceptability among consumers and promote a cashless economy are expected to stimulate the Japan prepaid cards market over the forecasted period.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market with some of the key players being.

• Aeon Credit Service Co. Ltd.
• East Japan Railway Corp.
• Nippon Tosho Fukyu Co. Ltd.
• PASMO Association
• Quo Card Co. Ltd.
• Rakuten Edy
• Seven & I Holdings Co. Ltd.
• West Japan Railway Co.

Japan 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:
• Travel Cards
• General Purpose Reloadable (GPR) Cards
• Gift Cards
• Gaming Cards
• Others

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

Breakup by Region:
• Kanto Region
• Kinki Region
• Central/ Chubu Region
• Kyushu-Okinawa Region
• Tohoku Region
• Chugoku Region
• Hokkaido Region
• Shikoku Region

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.