Prepaid Card for Retail Market Industry Trends and Forecast by 2028
In 2020, the size of the global Prepaid Card for Retail Market was significant, and it is anticipated to maintain a steeply rising revenue CAGR from 2021 through 2028. The market's revenue growth is attributed to several key factors, including increasing disposable income, rapid urbanization, and growing investments in research and development.
Prepaid cards are a type of payment gateway that is compatible with both open and closed loop networks. They link funds directly to a single card, regardless of the user's bank account or credit rating. These cards are available to anyone and can be used to make purchases at stores, pay online bills, and buy various goods and services.
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Top Companies Operating in the Global Prepaid Card for Retail Market Report:
- American Express Company
- Green Dot Corporation
- Master Card incorporated
- Ebay
- Visa Inc.
- The Western Union Company
- UniRush LLC
- PayPal Holdings Inc.
- JPMorgan Chase & Co.
- Mango Financial, Inc.
- Kaiku Financial LLC
- NetSpend Holdings Inc.
Driving Factors Of Prepaid Card for Retail Market:
The Prepaid Card for Retail Market is being driven by several factors, including increasing disposable income, rising urbanization, and growing investments in research and development activities. These factors are contributing to a steeply rising revenue compound annual growth rate (CAGR) that is expected to continue from 2021 to 2028.
Prepaid cards offer a convenient payment option that is compatible with both open and closed loop networks. Unlike traditional payment methods, prepaid cards are available to anyone, regardless of their credit rating or bank account status. They can be used to make purchases at stores, pay online bills, and buy a wide range of goods and services. These factors are contributing to the increasing demand for prepaid cards and driving the growth of the market.
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Card Type Outlook (Revenue, USD Billion; 2018-2028)
- Closed Loop Card
- Open Loop Card
Purpose Outlook (Revenue, USD Billion; 2018-2028)
- General Purpose Card
- Gift Card
- Incentive/Payroll Card
- Government benefit Card
- Travel Card
- Others
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Retail
- Corporate
- Government/ Public Sector
- Financial Institutions
- Others
Key Takeaways of the Global Prepaid Card for Retail Market Report:
· A comprehensive overview of the global Prepaid Card industry.
· Accurate market projections in terms of market size, share, and volume.
· Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
· Deep-dive analysis of the upcoming market trends.
· Qualitative and quantitative analyses of the global Prepaid Card for Retail Market.
· Elaborate study of the leading regional markets in the global Prepaid Card for Retail Market.
· Complete overview of the market’s competitive landscape.
· Brief look at the company profiles and portfolios.
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