The Business Research Company’s Prepaid Card Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, March 24, 2022 /EINPresswire.com/ — Major players operating in the industry are undertaking various strategic initiatives such as partnerships and collaborations which are gaining significant popularity in the prepaid card market. Companies are collaborating with other market players to offer prepaid cards with flexible credit limits to attract a large consumer base for a prepaid card. For instance, in November 2020, MobiKwik collaborated with American Express (Amex) card network to introduce its first virtual prepaid payments card with a flexible credit limit. With the launch of the prepaid payment card, MobiKwik becomes the first non-bank in India to issue cards.
Major players covered in the global prepaid card industry are 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.
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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 card market share is then expected to grow to $22.11 billion in 2026 at a CAGR of 9.7%.
Increasing the use of prepaid cards as a substitute for traditional bank cards is a key factor driving the growth of the global 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. 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.
TBRC’s global prepaid card market research report is segmented by type into general purpose reloadable card, prepaid gift card, government benefit card, payroll card, others, by card type into open loop prepaid card, closed loop prepaid card, by application into retail establishments, corporate institutions, government, others.
Prepaid Card Global Market Report 2022 – By Type (General-Purpose Reloadable Card, Prepaid Gift Card, Government Benefit Card, Payroll Card, Other Types), By Card Type (Open Loop Prepaid Card, Closed Loop Prepaid Card), By Application (Retail Establishments, Corporate Institutions, Government, Other Applications) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a prepaid card global market overview, forecast prepaid card market size and growth for the whole market, prepaid card market segments, geographies, prepaid card market trends, prepaid card market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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