Global Prepaid Card Market Size and Share

Global Prepaid Card Market

Global Prepaid Card Market Overview

Global Prepaid Card Market to attain a market size of $3.5 billion by 2022. Prepaid card is an alternative kind of payment, where funds are hooked up directly to a card without the need to be involved in a bank account. Prepaid cards are easily in the marketplace unlink other cards that involve consumer credit score, income, bank account, etc. The prepaid cards are a alternative to traditional bank accounts, and utilized in industry providers, e-commerce, and other platforms. All these types of cards were particularly introduced to cater to the unbanked population and even individuals with limited usage of provider expertise.

The global prepaid card market is determined by components which includes ease-of-access, growing Internet users, rapid growing in the E-commerce marketing, and thus demand for cash alternatives. These factors have contributed to the established adoption of prepaid offers in corporate and business establishments, government bodies, finance institutions, & others. These factors would drive the market for prepaid cards globally. Lack of security and safety includes would hamper the market improvements essentially. Establishing and growing regions such as Latin America, and Africa, would also provide excellent opportunities for improvements for the period of the estimate time period. Improving need for electronic payment and perhaps growing of unbanked & underbanked people are some of the most significant reasons for market growing. Countries such as Japan, China, and India were the leading economies with remarkable requirement for prepaid cards, within the Asia-Pacific region during 2015-2016. India is regarded as the emerging industry in the Asia-Pacific prepaid card market, and anticipated to register prominent CAGR during 2016 to 2022.

Global Prepaid Card Market Segmentation

In accordance with Card Type, the market is segmented into and Single-Purpose. According to Vertical, the industry is segmented into Retail, Corporate and business Institutions, Government, and Financial Institutions & Others. Based on Usage, the market is segmented into General Purpose Reload able Cards, Gift Card, Government Benefits/Disbursement Card, Incentive/ Payroll Card, and Others. The insider report in addition includes geographical segmentation of Global Prepaid Card market.

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