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TMCNet:  Prepaid Cards Global Market Outlook Report 2024 - Unbanked and Underbanked Consumers Evolving as a Potential Market

[March 28, 2024]

Prepaid Cards Global Market Outlook Report 2024 - Unbanked and Underbanked Consumers Evolving as a Potential Market

DUBLIN, March 28, 2024 /PRNewswire/ -- The "Prepaid Cards - Global Strategic Business Report" has been added to's offering.

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The global market for Prepaid Cards estimated at US$2 Trillion in the year 2023, is projected to reach a revised size of US$4.1 Trillion by 2030, growing at a CAGR of 9% over the analysis period 2023-2030.

Closed Loop Prepaid Cards, one of the segments analyzed in the report, is projected to record 8.8% CAGR and reach US$2.3 Trillion by the end of the analysis period. Growth in the Open Loop Prepaid Cards segment is estimated at 9.3% CAGR for the next 8-year period.

The Prepaid Cards market in the U.S. is estimated at US$726.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$648.7 Billion by the year 2030 trailing a CAGR of 12.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 8.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 8.2% CAGR.

Key Market Trends & Drivers:

  • Prepaid Cards: A Brighter Prospect in Cards amid Growing Digital Payments
  • COVID-19 Catalyzes Adoption of Digital Payments
  • Banks Go the Prepaid Way
  • Unbanked and Underbanked Consumers: Evolving as a Potential Market
  • Top Factors Cited as Barrier to Account Ownership: % of Adults Citing the Reason for Being Unbanked
  • Urban Sprawl Encourages a Positive Tide
  • Prepaid Eye the Upmarket
  • Gaining Popularity among Millennials
  • Consumer Shift from Cash to Card Based Purchase Transactions Propels Demand
  • Robust Rise of e-Commerce & m-Commerce to Support Market Growth
  • Pandemic Fast Forwards eCommerce Growth
  • Market Gains from Increased Retailer Acceptance of Card Based Payments
  • Virtual Prepaid Payment Cards: Next Generation of Prepaid
  • Prepaid Cards Offer Stiff Competition to Debit Cards
  • Prepaid Payroll Cards Expected to Witness Robust Growth
  • Retailer Specific-Prepaid Cards Gain Popularity in Developed Markets
  • Innovations Sustain Growth in Gift Cards Market
  • Retailers Eye Gift Cards to Build Loyal Customers
  • Growing Focus on Employee Rewards & Recognition to Spur Demand for Gift Cards
  • Why Companies Bet on Employee Rewards & Recognition?
  • Gift Cards: A Compelling Employee Reward Option
  • Advantages of Gift Cards for Employee Rewards & Recognition Program
  • Cohesive and Innovative Strategies: Key to Success of Gift Card Programs in Retail
  • Ease of Handling Drives Use of Digital Gift Cards for Incentives and Rewards Applications
  • Omni-channel hopping is Here to Stay
  • Prepaid Travel Cards Grab Eyeballs
  • Fueled by High Uptake and Technological Progress, Prepaid Cards Hold Rosier Future
  • Chip Technology Makes Way into Prepaid Cards for Enhanced Security
  • Prepaid Cards Provides Hope for Better Travel Insurance Services

Challenges & Issues

  • Dearth of Consumer Awareness: A Major Challenge
  • High and Non-Standard Fees - A Major Hindrance to Growth
  • Need for Regulatory Tabs
  • Increasing Frauds and Abetting Criminal Activity - The Achilles' Heel of Prepaid Cards Business

Key Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

The report covers 250+ key competitors in the industry.  

A selection of featured companies include:

  • AT&T, Inc.
  • Bank of America, N.A.
  • ADP, Inc.
  • Amadeus IT Group SA
  • Axis Bank Ltd.
  • American Express Company
  • allpay Ltd.
  • Bankable
  • Allied Wallet
  • AsiaPay Limited
  • Axios Credit Bank
  • Bitsa
  • ABNB Federal Credit Union
  • ANGEL Mastercard
  • Allpoint Network

Key Topics Covered:




  • Prepaid Cards - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • A Prelude to Prepaid Cards
  • Comparison between Credit Card, Debit Card and Prepaid Card
  • Market Segments
  • Types of Prepaid Cards
  • Advantages and Disadvantages of Prepaid Cards
  • Global Market Prospects & Outlook
  • Addressing the Needs of the Unserved/Underserved: A Major Market Driver
  • Improved Efficiencies and Transparency Drives Inclusion of Prepaid Cards in Commercial Programs
  • Breaking Barriers to Ensure Broader Uptake of Digital Payments among Consumers
  • Key Growth Factors
  • Key Market Restraints
  • Analysis by Geographic Region
  • World Prepaid Cards Market by Region: Percentage Breakdown of Gross Value for Developed and Developing Regions (2024 & 2030)
  • World Prepaid Cards Market - Geographic Regions Ranked by CAGR (Value) for 2024-2030: China, Asia-Pacific, Latin America, Canada, Middle East, USA, Europe, Japan and Africa
  • Analysis by Segment
  • World Prepaid Cards Market by Type (2024 & 2030): Percentage Breakdown of Gross Value for Closed Loop and Open Loop
  • Competitive Scenario
  • An Insight into the Prepaid Card Value Chain
  • Prepaid Value Chain: Role and Revenue Driver by Category
  • Evolving Prepaid Value Chain amidst Changing Environment
  • Recent Market Activity
  • Select Global Brands





  • United States
  • Canada
  • Japan
  • China
  • Europe
  • France
  • Germany
  • Italy
  • United Kingdom
  • Spain
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East
  • Iran
  • Israel
  • Saudi Arabia
  • United Arab Emirates
  • Rest of Middle East
  • Africa


For more information about this report visit

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