The prepaid card global market globally increased at a CAGR of 16.0% during 2014-2018 and is now expected to record a CAGR of 12.7% through 2023, increasing from US$1664 billion in 2019 to reach US$ 2,684 billion by 2023.
A new from PayNXT360 examines in details the prepaid market in Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Kenya, Mexico, Nigeria, Philippines, Russia, South Africa, Thailand, United Arab Emirates, U.K. and the U.S. With more than 150 KPIs at country level, each report reviews open loop and closed loop including the number of cards in circulation, number of transactions, load value, and value of transactions.
The report identifies potential risks, consumer adoption, and market size across 10 market segments in closed loop prepaid cards between 2014 and 2023. These include gift, healthcare and wellness, consumer incentives, employee / partner incentives, entertainment and gaming, teen and campus, social security and other government benefit programs, transit and tolls, and fuel, utilities, and others.
The new study also provides an overview of how consumers are currently using prepaid cards across five key categories – travel, bill payment, retail spend, cash withdrawal, and P2P transfers. It also provides a breakdown by transaction size. Additionally, the research breaks down retail spend across 11 categories to provide detailed insights on consumer behavior and changing dynamics of prepaid card spend.
The annual PayNXT360 report is 2,100 pages and usually released in February.
First-quarter global cards among the Major 4 U.S. payment networks expanded by 369 million credit, charge, debit and prepaid cards-in-force (CIF) over the past twelve months. The Major 4 (Visa [V], Mastercard [MA], American Express [AXP], Discover/Diners [DFS]), global payment cards grew 7.0% year-on-year (YOY) in the first-quarter (1Q/19), according to CardData.
PYRPTS manages over 500 payments research reports published within the last 12 months covering domestic, international and global markets.
PYRPTS areas of interest include: acquiring; alternative payments; artificial intelligence; biometrics; blockchain; card printing; charge cards; commercial cards; consumer credit; credit cards; cryptocurrency; debit cards; digital payments; EMV; financial cards; FinTech; payments hardware; mag stripe cards; mobile payments; networks; NFC; prepaid cards; processing; payments software; and terminals.
PYRPTS President Robert McKinley, a seasoned payments research analyst, editor, and author of 34 years, personally vets each report listed for relevance and reliability.