DUBLIN--(BUSINESS WIRE)--The "EEA Prepaid Card Market by Functional Attribute, Card Type, End User, and Application: Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
A prepaid card or a stored-value card is an alternative banking card with a monetary value stored on the card. It permits consumers to spend the amount loaded on the card and can be used as a credit card. In addition, as funds can be withdrawn & deposited straight from the card, no network access is required by the payment collection terminals in the market. Moreover, prepaid card can be used for making purchases, shopping & routine payments, utility bills, and others. Prepaid cards are generally issued by banks & branded by the major credit card companies such as American Express Company, Visa Inc., MasterCard, and Discover.
Increased penetration of internet users is accelerating the growth of transactions via prepaid cards, debit, and credit cards for several online purchases. Moreover, alternatives to payment methods have provided a consumer with multiple options for using loaded money in the prepaid card. Furthermore, rise in demand for cash alternatives especially for executing online shopping, payments of bills, and others. These factors, as a result propelling the growth of EEA prepaid card market. However, lack of security measures as compared to credit or debit cards & several hidden fees associated with prepaid card transactions are some of the major factors expected to limit the market growth. On the contrary, massive growth in unbanked population, adopting online payment channels & implementing digitalized payment mode in their day-to-day spending are becoming major factors, which are expected to create lucrative opportunities to the market in the upcoming years.
The EEA prepaid card market is segmented based on functional attribute, card type, end user, application, and country. In terms of functional attribute, it is bifurcated into open-loop card and closed-loop card. Based on card type, the market is classified into general purpose card, gift card, government benefit/disbursement card, payroll card, and others. On the basis of end user, it is segmented into retail, corporate, and government/public sector. Based on application, the market is segmented into food & groceries, pharmacy & drug stores, restaurants & bars, consumer electronics, media & entertainment, and others. Country wise, it is analyzed across Italy, Belgium, Denmark, Finland, France, Germany, Iceland, Ireland, Austria, Norway, Poland, Spain, the Netherlands, and Rest of EEA.
Key Benefits
- The study provides an in-depth analysis of the EEA prepaid card market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the EEA prepaid card market from 2020 to 2027 is provided to determine the market potential.
Market Dynamics
Drivers
- Increased Adoption of Prepaid Cards Due to Adding of Funds Through Multiple Avenues
- Rise in Demand for Cash Alternatives
- Increase in Number of Internet Users
Restraint
- Lack of Standardization
Opportunity
- Surge in Unbanked and Under Banked Population
Key Market Players
- American Express Company
- JPMorgan Chase & Co.
- Kaiku Finance, LLC.
- IDT Financial Services Limited
- moneycorp
- H&R Block, Inc.
- Mango Financial, Inc.
- Payoneer Inc.
- PayPal Holdings, Inc.
- Netspend
For more information about this report visit https://www.researchandmarkets.com/r/xwby2i
