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Prepaid card is an alternative form of payment, where funds are connected directly to a card without the need to be linked to a bank account. Prepaid cards are easily available unlink other cards that require credit rating, income, bank account, etc. The prepaid cards are a substitute to traditional bank accounts, and are widely used in retailer stores, e-commerce, and other platforms. These forms of cards were primarily introduced to cater to the unbanked population and individuals with limited access to bank services. Developing and emerging countries such as Latin America, and Africa, would also present excellent opportunities for growth during the forecast period. Growing demand for electronic payment and growth of unbanked & underbanked population are some of the major reasons for market growth. These factors have contributed to the widespread adoption of prepaid cards in corporate institutions, government bodies, financial Institutions, & others. Lack of security features would hamper the market growth significantly.
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Based on Card Type, the market is segmented into and Single-Purpose. Based on Vertical, the market is segmented into Retail, Corporate Institutions, Government, and Financial Institutions & Others. Based on Usage, the market is segmented into General Purpose Reloadable Cards, Gift Card, Government BenefitsDisbursement Card, Incentive Payroll Card, and Others. The report also covers geographical segmentation of Prepaid Card market. Based on Country, Prepaid Card market is segmented into Latin America, and Middle East & Africa. Brazil remained the dominant country in the LAMEA Prepaid Card market in 2015. Nigeria and Argentina would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Prepaid Card market. Key companies profiled in the report include Green Dot Corporation, American Express Company, JPMorgan Chase & Co., Master Card Incorporated, Ebay, TSYS, The Western Union Company, and Visa, Inc.