- The study provides an in-depth analysis of the global travel insurance market size with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- The report provides actual historical figures for 2014 and 2015 for the travel insurance market and provides forecasts for 20162022, considering 2015 as a base.
- Competitive intelligence highlights the business practices followed by leading players across various regions.
Prepaid Card Market Research Report 2014-2022
Prepaid Card Market by Card Type (Single-purpose prepaid card, and Multi-purpose prepaid card), Usage (General-Purpose Reloadable Card, Gift Card, Government Benefits/Disbursement Card, Incentive/Payroll Card), Industry Vertical (Retail Establishments, Corporate Institutions, Government, Financial Institutions) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022
- Report Number: 1128
- Publish Date: 17-May-2018
- Pages: 172
- Tables: 45
Prepaid Card Market Overview:
Prepaid Card Market is projected to grow at a CAGR of 22.7% from 2016 to 2022. The market accounted for $896 billion, and is expected to reach $3,653 billion by 2022. The base year considered for the study is 2015, and the forecast period is 2016-2022.
A prepaid card is a payment card where funds are connected directly to a card without being linked to a bank account. Prepaid cards are available to everyone, regardless of credit rating, income, or whether someone holds a bank account. These cards are a substitute to traditional bank accounts, and are a new way of managing money. These cards are widely used in retailer stores, e-commerce, and others. These were primarily introduced to cater to the unbanked population and individuals with limited access to bank services.
The global prepaid card market is driven by factors such as an increase in awareness and ease-of-access to prepaid cards, a large number of Internet users, the boom in the E-commerce industry, and growth in demand for cash alternatives. These factors have increased adoption of prepaid cards in corporate institutions, government, financial Institutions, & others. However, lack of security hampers the market growth. Nonetheless, the emergence of new applications and growth of unbanked and underbanked population are expected to provide lucrative opportunities to the market.
The global prepaid card market is segmented on the basis of card type, usage, industry vertical, and geography. Based on the card type, the market is classified into the single-purpose prepaid card and multi-purpose prepaid card. In 2015, the single-purpose prepaid card segment dominated the global market in terms of revenue, and is expected to maintain this trend throughout the forecast period, owing to its easy accessibility and flexibility.
Based on usage, the general purpose reloadable card segment dominated the global market in terms of revenue, and is expected to maintain this trend throughout the forecast period. However, the gift card segment is expected to witness significant growth in the years to come owing to increase in demand for electronic payment.
Based on industry vertical, the retail establishment segment offers lucrative scope to industry players, and are expected to exhibit significant growth as compared to the other segments. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the largest revenue share in the global market, owing to the increase in demand for cash alternatives and rise in the number of unbanked and underbanked population.
Global Prepaid Card Market Segmentation
Comprehensive competitive analyses and profiles of major market players, including Green Dot Corporation, NetSpend Holdings, Inc., H&R Block Inc., American Express Company, JPMorgan Chase & Co., PayPal Holdings, Inc., BBVA Compass Bancshares, Inc., Mango Financial, Inc., UniRush, LLC, and Kaiku Finance LLC. are provided in this report. Presently, the players in the global prepaid card market have adopted product launch and acquisition to expand their customer base and increase their market shares.
Global Prepaid Card Market Top Impacting Factors
Increase in Awareness and Ease of Access
The global prepaid card market is expected to grow in the future due to increase in awareness and convenience of their usage as these cards are not linked to the bank accounts of the individuals; hence, there are no overdraft charges to the banks. Moreover, while using prepaid cards, consumers cannot borrow the money and they are limited to use only the amount that is loaded into their cards.
Growth of Unbanked and Underbanked Population
Prepaid cards offer a safe, inexpensive, and essential banking substitute to low-income unbanked and underbanked households. According to a recent study, over 40% of prepaid cardholders do not possess a checking account. Unable to access online banking, ATMs, and online shopping, these people thus use prepaid cards for strong involvement in the market. The population of these unbanked and underbanked people is increasing rapidly, thus providing a customer base for prepaid card market in the future.
- The study provides an in-depth analysis of the global prepaid card market to elucidate the prominent investment pockets.
- Current trends and future estimations have been outlined to determine the overall attractiveness, and single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding key drivers, restraints, and opportunities along with their impact analyses.
- The market is analyzed based on various regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Prepaid Card Market Key Segmentation:
By Card Type
- Single-purpose Prepaid Card
- Multi-purpose Prepaid Card
- General-Purpose Reloadable Card
- Gift Card
- Government Benefits/Disbursement Card
- Incentive/Payroll Card
By Industry Vertical
- Retail Establishments
- Corporate Institutions
- Financial Institutions & Others
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Table Of Content
Chapter: 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.4.1. Secondary research
Chapter: 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
Chapter: 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2.1. Top impacting factors
3.3. PORTER’S FIVE FORCES ANALYSIS
3.3.1. Bargaining power of suppliers
3.4. MARKET PLAYER COMPARISON CHART
22.214.171.124. Increase in demand for cash alternatives
126.96.36.199. Prone to fraudulent attacks
188.8.131.52. Increase in unbanked and under banked population
Chapter: 4 PREPAID CARD MARKET, BY CARD TYPE
4.1.1. Market size and forecast
4.2. MULTI-PURPOSE PREPAID CARD
4.3. SINGLE-PURPOSE PREPAID CARD
Chapter: 5 PREPAID CARD MARKET, BY USAGE
5.1.1. Market size and forecast
5.2. GENERAL PURPOSE RELOADABLE CARD
5.3. GIFT CARD
5.4. GOVERNMENT BENEFITS/DISBURSEMENT CARD
5.5. INCENTIVE/PAYROLL CARD
Chapter: 6 PREPAID CARD MARKET, BY INDUSTRY VERTICAL
6.1.1. Market size and forecast
6.2. RETAIL ESTABLISHMENTS
6.3. CORPORATE INSTITUTIONS
6.5. FINANCIAL INSTITUTIONS AND OTHERS
Chapter: 7 PREPAID CARD MARKET, BY GEOGRAPHY
7.1.1. Market size and forecast
7.2. NORTH AMERICA
184.108.40.206. Market size and forecast
220.127.116.11. Market size and forecast
18.104.22.168. Market size and forecast
22.214.171.124. Market size and forecast
126.96.36.199. Market size and forecast
188.8.131.52. Market size and forecast
184.108.40.206. Market size and forecast
7.3.8. Rest of Europe
220.127.116.11. Market size and forecast
18.104.22.168. Market size and forecast
7.4.5. South Korea
22.214.171.124. Market size and forecast
126.96.36.199. Market size and forecast
188.8.131.52. Market size and forecast
7.4.8. Rest of Asia-Pacific
184.108.40.206. Market size and forecast
220.127.116.11. Market size and forecast
7.5.5. Middle East
18.104.22.168. Market size and forecast
22.214.171.124. Market size and forecast
Chapter: 8 RELATED INDUSTRY INSIGHTS
8.1. MOBILE PAYMENTS MARKET
8.1.1. Executive Summary
8.2. ONLINE BANKING MARKET
8.2.1. Executive Summary
Chapter: 9 COMPANY PROFILES
9.1. AMERICAN EXPRESS COMPANY
9.1.1. Company overview
126.96.36.199. Service channels
188.8.131.52. Executive Speak
9.1.5. Key strategic moves and developments
9.2. NETSPEND HOLDINGS, INC
9.2.1. Company overview
184.108.40.206. Service channels
220.127.116.11. Executive Speak
9.2.5. Key strategic moves and developments
9.3. GREEN DOT CORPORATION
9.3.1. Company overview
18.104.22.168. Service channels
22.214.171.124. Executive Speak
9.3.5. Key strategic moves and developments
9.4. UNIRUSH, LLC
9.4.1. Company overview
126.96.36.199. Service channels
188.8.131.52. Executive Speak
9.4.5. Key strategic moves and developments
9.5. PAYPAL HOLDINGS, INC.
9.5.1. Company overview
184.108.40.206. Service channels
220.127.116.11. Executive Speak
9.5.5. Key strategic moves and developments
9.6. JPMORGAN CHASE & CO.
9.6.1. Company overview
18.104.22.168. Service channels
22.214.171.124. Executive Speak
9.6.5. Key strategic moves and developments
9.7. BBVA COMPASS BANCSHARES, INC.
9.7.1. Company overview
126.96.36.199. Service channels
188.8.131.52. Executive Speak
9.7.5. Key strategic moves and developments
9.8. H&R BLOCK INC
9.8.1. Company overview
184.108.40.206. Service channels
220.127.116.11. Executive Speak
9.8.5. Key strategic moves and developments
9.9. KAIKU FINANCE, LLC.
9.9.1. Company overview
18.104.22.168. Service channels
22.214.171.124. Executive Speak
9.9.5. Key strategic moves and developments
9.10. MANGO FINANCIAL, INC.
9.10.1. Company overview
126.96.36.199. Service channels
188.8.131.52. Executive Speak
9.10.4. Key strategic moves and developments
LIST OF TABLES
TABLE 1. GLOBAL PREPAID CARD MARKET, BY CARD TYPE, 2014-2022 ($BILLION)
LIST OF FIGURES
FIGURE 1. SEGMENTATION
The global prepaid card market has been gaining prominence in the recent years, owing to increase in awareness and convenience of their usage as these cards are not linked to the bank accounts of individuals. This eliminates the need for overdraft charges paid to banks by individuals. However, prepaid cards users cannot borrow the money, rather can only use the amount that is loaded into their cards. The acceptance of these cards was higher in developing economies than the developed countries.
Single-purpose prepaid card spending gained impetus in 2015, which in turn increased the adoption of prepaid cards in industry verticals such as retail establishment, corporate institutions, government, and others. In addition, developments in electronic payment and smart cards have propelled the market growth. For instance, in 2016, American Express launched Amex for Developers, a new portal providing a single point of access to company APIs and developer resources in categories such as payment services, customized experiences, data intelligence, and fraud prevention.
Market players have focused on developing innovative strategies for the adoption of prepaid cards in corporate institutions and government for ease of accessibility. Prepaid cards were introduced to aim at cater to the unbanked population who have limited access to bank accounts. However, the demand for these cards has increased in the recent years among traditional banking users, owing to increase in awareness and ease of access.
Rapid expansion of the e-commerce industry has compelled customers to use plastic money rather than cash. As stated by several banks, the new-age segment is one of the key factors driving sales transaction through credit, debit, and prepaid cards, globally. However, these advanced payment methods are prone to hacking, as these cards do not have security measures to prevent payment frauds. North America is the major revenue contributor in the global market, followed by Europe. The prepaid card markets in Asia-Pacific and LAMEA regions are expected to grow significantly during the forecast period.