Dublin, March 24, 2025 (GLOBE NEWSWIRE) -- The "Prepaid Card Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The prepaid card market size has grown rapidly in recent years. It will grow from $24.91 billion in 2024 to $28.37 billion in 2025 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to regulatory landscape, consumer behavior and preferences, economic conditions, financial inclusion initiatives, partnerships and collaborations.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. The Asia-Pacific was the largest region in the prepaid card market in 2024. Western Europe was the second largest market in the global prepaid card market share.
Key Companies Profiled: Walmart Inc.; JPMorgan Chase & Co.; American Express Company; Visa Inc.; PayPal Holdings Inc.
The prepaid card market size is expected to see rapid growth in the next few years. It will grow to $46.16 billion in 2029 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to anticipated regulatory changes, evolving consumer preferences, economic outlook, financial inclusion initiatives, strategic partnerships. Major trends in the forecast period include enhanced security features, green and sustainable practices, inclusion and accessibility, digital wallet integration, regulatory compliance.
The growing use of prepaid cards as an alternative to traditional bank cards is a major factor fueling the prepaid card market's expansion. Unlike bank checking accounts or credit union draft accounts, prepaid cards allow users to load funds in advance directly into the card account. For example, in May 2024, Recharge, a Netherlands-based online prepaid payments company, conducted a survey among 2,000 UK adults aged 18 and over, revealing that 1 in 5 Brits (around 11.4 million people) use prepaid cards, a 118% increase since the start of the cost-of-living crisis. Among these users, 34% (approximately 3.9 million) stated they use prepaid cards to better control their finances, while 26% (around 3 million) do so to avoid debt. Thus, the rising adoption of prepaid cards is expected to drive market growth in the forecast period.
The growth of the prepaid card market is expected to be fueled by the increasing demand for e-commerce. Prepaid cards are commonly utilized for online purchases, allowing consumers to load funds onto their cards and use them for buying products and services from e-commerce platforms. As of August 2023, the United States Census Bureau reported a 7.5% increase in e-commerce estimates for the second quarter of 2023 compared to the second quarter of 2022. This growth in online sales, accounting for 15.4% of total sales, indicates a rising preference for prepaid cards in the online shopping landscape.
Leading companies in the prepaid card market are introducing innovative products, such as Neokred, to enhance their market presence and profitability. Neokred, developed by Giverly, a US-based social impact fintech startup, serves as a payments infrastructure enabler. Launched in July 2023, Neokred, co-branded with Visa and Transcorp International, functions as a charity payback platform. This unique card transforms online purchases into meaningful contributions that directly impact significant humanitarian issues. Giverly aims to revolutionize charitable giving, providing organizations with a tangible and impactful way to receive support.
Major players in the prepaid card market are incorporating advanced technologies, exemplified by the introduction of the common mobility Prepaid Card. State Bank of India, a prominent financial services company, unveiled the RuPay NCMC Prepaid Card in September 2023. This card, facilitated by the National Payments Corporation of India (NPCI), represents an inter-operable transport card. Designed to simplify payments for various travel-related expenses, the RuPay NCMC Prepaid Card can be utilized for parking, bus fares, ferries, subways, as well as retail and online purchases.
Report Scope
Markets Covered:
1) By Type: General-Purpose Reloadable Card, Prepaid Gift Card, Government Benefit Card, Payroll Card, Other Types
2) By Card Type: Open Loop Prepaid Card, Closed Loop Prepaid Card
3) By Application: Retail Establishments, Corporate Institutions, Government, Other Applications
Subsegments:
1) By General-Purpose Reloadable Card: Travel Cards; Everyday Spending Cards; Digital Wallet Linked Cards
2) By Prepaid Gift Card: Retail Gift Cards; Restaurant Gift Cards; E-Gift Cards
3) By Government Benefit Card: Social Security Cards; Unemployment Benefit Cards; Food Assistance Cards
4) By Payroll Card: Corporate Payroll Cards; Small Business Payroll Cards
5) By Other Types: Health Savings Account (HSA) Cards; Student Cards; Incentive or Rewards Cards
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $28.37 Billion |
| Forecasted Market Value (USD) by 2029 | $46.16 Billion |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
Companies Featured
- Walmart Inc.
- JPMorgan Chase & Co.
- American Express Company
- Visa Inc.
- PayPal Holdings Inc.
- Truist Financial Corporation
- Mastercard Incorporated
- Regions Financial Corporation
- The Western Union Company
- Total System Services LLC
- Akimbo Financial Inc.
- Green Dot Corporation
- Republic Bank & Trust Company
- Pathward N.A.
- Insight Card Services Inc.
- NetSpend Holdings Inc.
- Rev Worldwide Inc.
- FamZoo Inc.
- Prepaid2cash Holdings Inc.
- BBVA Compass Bancshares Inc.
- Kaiku Finance LLC
- Mango Financial Inc.
- Bluebird by American Express
- Prepaid Expense Card Solutions Inc.
- Achieve Financial Services LLC
- MovoCash Inc.
- Cashflows
For more information about this report visit https://www.researchandmarkets.com/r/yqwn8t
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