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Global Prepaid Card and Digital Wallet Market Intelligence: Across Over 20 Data-Driven Reports

PR Newswire
7 min read

DUBLIN, March 25, 2024 /PRNewswire/ -- The "Global Prepaid Card and Digital Wallet Market Intelligence Databook Subscription - Q1 2024" report has been added to  ResearchAndMarkets.com's offering.

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This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Global. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

The global prepaid card ecosystem has been growing rapidly amid surging digitalization. Driven by the Covid-19 outbreak and the subsequent rise of fintech firms have supported the adoption of prepaid payment instruments among consumers globally. The rising e-commerce shopping trends have also assisted prepaid card transaction value and volume growth, and the publisher expects the trend to further continue over the next three to four years.

In the global prepaid card market, more and more fintech firms have shifted their focus toward kids' and teens' banking. With many players seeking to tap into potential future consumers at an early age, the trend is projected to further expand from the short to medium-term perspective. Furthermore, fintech firms are also expected to raise capital from venture capital and private equity firms, as they seek to expand their presence in the global market.

Prepaid payment instruments are expected to dominate e-commerce payments globally

The use of prepaid payment instruments, including digital wallets, is growing in the e-commerce segment, especially in markets like India, where e-commerce and digital payments have ballooned over the last few years. From the short to medium-term perspective, this trend is expected to further grow significantly.

This growth reflects the maturing digital wallet markets in the Asia Pacific region as well as the increasing usage of prepaid payment instruments in the United States. In Europe as well, the adoption of digital wallets is on the rise and will further continue over the next three to four years.

Firms are launching transit and retail prepaid card to drive their transaction value and volume

Travelers and consumers are looking for hassle-free payment solutions for their daily payments. Consequently, the number of transit and retail prepaid card launches has increased significantly around the world.

From the short to medium-term perspective, the publisher expects more such transit and retail prepaid card launches from fintech firms globally, as the demand for such solutions continues to grow among consumers.

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