EEA Prepaid Card Market to Garner $500.27 Bn by 2027 at 14.7% CAGR | moneycorp, Netspend, AMERICAN EXPRESS COMPANY, Kaiku Finance

Allied Market Research recently published a report, titled, "EEA Prepaid Card Market by Functional Attribute (Open-loop Card and Closed-loop Card), Card Type (General Purpose Card, Gift Card, Government Benefit/Disbursement Card, Payroll Card, and Others), End User (Retail, Corporate, and Government/Public Sector), and Application (Food & Groceries, Pharmacy & Drug Stores, Restaurants & Bars, Consumer Electronics, Media & Entertainment, and Others): Opportunity Analysis and Industry Forecast, 2020-2027".

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂
https://www.alliedmarketresearch.com/request-sample/A07929

As per the report, the EEA prepaid card industry was pegged at $182.64 billion in 2019, and is expected to reach $500.27 billion by 2027, registering a CAGR of 14.7% from 2020 to 2027.

Covid-19 scenario:

As pandemic has severely affected the global economy, several people lost their jobs, which has limited usage of funds in the region.
The need to implement better product offering by providing discounts for prepaid card usage has increased during the Covid-19 pandemic.
Even during Covid-19 pandemic, the financial services industry is highly competitive, which has created huge opportunities for market players to introduce numerous benefits & offers.
The open-loop card segment dominated the market

By functional attribute, the global open-loop card segment held the largest share in 2019, accounting for nearly three-fifths of the EEA prepaid card market, owing to surge in demand for multipurpose prepaid cards. However, the closed-loop card segment is estimated to register the highest CAGR of 16.3% during the forecast period, due to easy accessibility, low risk of frauds, and low-interest charges.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠:
https://www.alliedmarketresearch.com/purchase-enquiry/A07929

Drivers, restraints, and opportunities-

Increase in need for cash alternatives, development of the e-commerce industry, and availability of affordable and energy-efficient prepaid cards have boosted the growth of the EEA prepaid card market. However, lack of standardization and fraudulent attacks hinder the market growth. On the contrary, surge in the unbanked and underbanked population would open new opportunities for the market players in the future.

Get detailed COVID-19 impact analysis on the EEA Prepaid Card Market

The retail segment held the largest share

By end user, the retail segment dominated the market in 2019, contributing to more than half of the EEA prepaid card market, due to growing large customer base shifting from traditional shopping to online shopping in various countries of Europe. However, the corporate segment is anticipated to manifest the highest CAGR of 16.5% during the forecast period, as prepaid card is safer than transactions through debit card, credit cards, and checks.

The media & entertainment segment to manifest the highest CAGR through 2027

By application, the media & entertainment segment is estimated to register the highest CAGR of 17.9% during the forecast period, as numerous sports organizations across the globe have adopted prepaid card payment options for reducing major problems for owners such as tickets, pricing & change requirement, reconciliation, transaction times, and improving security. However, the food & groceries segment held the lion's share in 2019, accounting for around one-fourth of the EEA prepaid card market, due to its numerous benefits such as improved operational efficiencies, better customer satisfaction, upsurge the revenue, and lower operating cost.

Research Methodology:
The global EEA Prepaid Card industry was thoroughly researched through a comprehensive approach combining primary and secondary research methodologies. Secondary research provided a broad overview of goods and services, whereas primary research delved deeper into the various factors driving the market. To obtain comprehensive insights into the industry, a meticulous search was undertaken utilizing various sources such as press releases, specialized business periodicals, and government websites. This meticulous research methodology has provided a unique and extensive insight into the global EEA Prepaid Card Market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.alliedmarketresearch.com/request-for-customization/A07929

Major market players
• American Express Company
• H&R Block, Inc.
• IDT Financial Services Limited
• JPMorgan Chase & Co.
• Kaiku Finance, LLC.
• Mango Financial, Inc.
• Moneycorp
• Netspend
• PayPal Holdings, Inc.
• Payoneer Inc.

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