1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
Prepaid Card Market: Payment Trends, Market Dynamics, and Forecasts 2018 - 2023

Prepaid Card Market: Payment Trends, Market Dynamics, and Forecasts 2018 - 2023

  • August 2018
  • 53 pages
  • ID: 5490286
  • Format: PDF
  • By Mind Commerce Publishing

Summary

Table of Contents

Overview:
Despite the dominant trend towards mobile and contactless payments, the prepaid card market remains vibrant and dynamic. In certain parts of the world, physical cards remain the preferred mechanism for payments along with cash. In the United States, prepaid cards remain the preferred choice for the unbanked market segment as well as the market for -under the table- transactions. However, the US government is increasingly clamping down on illegal activities with broad measures of investigation and enforcement. Some market segments prefer to use physical cards in certain situations. Surprisingly, the millennial generation has a high affinity towards certain cards, especially designer offerings as they appeal to their sense of style.

There is a robust market for both closed loop and open loop prepaid cards. In the case of the former, major merchants leverage prepaid cards as a means of furthering brand identity and driving additional sales such as the gifting market. In addition, the unbanked market often turns to cards as a means of conducting non-cash, debit transactions. Closed loop cards are getting increasingly creative in terms of how they position themselves within the overall payments ecosystem. This is an interesting dynamic as the same companies are also pushing hard for next generation mobile payments and wireless wallet infrastructure.

The move towards a cashless society is substantial, further driving the prepaid card market. However, Mind Commerce sees a transition from physical cards (credit and debit) towards completely virtual. This will not happen without continual improvements in identity management, privacy, and security measures. This will disenfranchise many consumers globally that are unbanked, underbanked, credit challenged, and/or working -under the table-. Our related research into Next Generation Payments (via smartphones, wearables, and implantable technology) indicates that a universal wallet will be an absolute requirement. Mind Commerce also sees this reinforced by the need for a graceful transformation of the prepaid card market.

This report evaluates the major driving factors for prepaid card ownership and usage. The report evaluates usage market segment including demographic profile, card type, and industry vs. government programs. The report assesses retail challenges relative to shopping and related card usage. The report also analyzes the payments ecosystem including issues related to mobile payments in contrast to physical card usage. The report also provides forecasts for 2018 to 2023 covering all major areas including corporate usage, retail, and government. All direct purchases of Mind Commerce reports includes time with an expert analyst who will help you link key findings in the report to the business issues you’re addressing. This needs to be used within three months of purchasing the report.

Target Audience:
- POS device providers
- Mobile commerce companies
- Merchant banks and financial processors
- Government agencies and regulatory authorities
- All providers of goods and services (instore and online)

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Financial Cards and Payments in the Netherlands

Financial Cards and Payments in the Netherlands

  • $ 2100
  • November 2019

Financial payments in the Netherlands are increasingly dominated by card payments as consumers favour this method due to its ease of use and safety. This comes at the expense of cash payments, which Dutch ...

Financial Cards and Payments in the United Arab Emirates

Financial Cards and Payments in the United Arab Emirates

  • $ 2100
  • November 2019

Card payments continue to rise in the United Arab Emirates, with consumers using both cards as well as contactless payment methods to make payments more frequently and for smaller transactions. Economic ...

Financial Cards and Payments in Norway

Financial Cards and Payments in Norway

  • $ 2100
  • November 2019

Norway continues to advance towards becoming a cashless society, with consumers increasingly relying on debit/credit cards and mobile payments, causing cash and other paper transactions to carry on declining ...


ref:plp2018

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on