Europe Prepaid Card Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Prepaid Card Market Analysis
The prepaid card industry has grown significantly in recent years, but due to the onset of the COVID-19 pandemic, the market is expected to drop dramatically in 2020. This is due to a rise in remote working and social distancing, which makes prepaid cards in retail, corporate, and other sectors difficult to use for shopping, travel, and cash flow. Prepaid cards, coupons, and other forms of payment have disappeared due to these circumstances. Distinct modes of working have been seen to bring different ways of communication. Businesses face a problem in ensuring that clients purchasing certificates at this time are bringing in immediate income.
The prepaid card sector is predicted to rise rapidly during the projection period. The rise in demand for cash alternatives, the rise in the number of internet users, and the rise in acceptance of prepaid cards owing to the ability to add money through different channels are all factors influencing the market's growth. Furthermore, the market's expansion is hampered by a lack of standardization. Furthermore, future market growth is likely to be boosted by an increase in the unbanked and underbanked population. During the forecast period, each of these variables is expected to significantly influence the total prepaid card market growth.
Europe Prepaid Card Market Trends
This section covers the major market trends shaping the Prepaid Cards Market according to our research experts:
Demand for Cash Replacement Is Growing
According to many surveys, clients seeking low-risk investments and greater returns than traditional cash-based accounts have increased their demand for cashless transactions. These prepaid cards reduce the danger of overspending by limiting expenditure to the amount on the card. It also allows users to load the card using a variety of channels, including bank account transfers, direct deposit, or cash, as well as online and in person, making the prepaid card a valuable alternative for various applications.
Additionally, businesses are looking for new currency alternatives to manage their regular operations. The card companies provide handy payment methods. All of these reasons are projected to contribute to the expansion of the European prepaid card industry.
Rise in The Number of Unbanked and Underbanked Users
Unbanked and underbanked rates have been recorded in various groups, including lower-income households, households with less education, younger households, and others. One evidence that prepaid instruments have become incorporated into daily life among the demographics above is that spending patterns have changed, and customers are willing to investigate prepaid card possibilities. As a result, the rise in prepaid card acceptance among the unbanked population is likely to open up attractive prospects for companies in the worldwide prepaid card industry.
Europe Prepaid Card Industry Overview
The report covers major players operating in the Europe prepaid cards market, their product portfolio, key financials, and developments. The market is transforming with many technological advancements through product innovation and process automation. The key market players are focusing on improving their production capacity, which will help them to increase exports.
Europe Prepaid Card Market Leaders
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Visa
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Mastercard
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PayPal Holdings Inc.
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American Express Company
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Green Dot Corporation
*Disclaimer: Major Players sorted in no particular order
Europe Prepaid Card Market News
- In May 2022, The Big Issue Group (TBIG) reached a new milestone by equipping 1,000 suppliers with contactless technology via the Zettle by PayPal card reader, an increase of 68 percent over last year. Furthermore, with PayPal's acceptance of Zettle's Tap to Pay, it is swiftly approaching its goal of enabling all 1,500 sellers to go cashless by the end of the year.
- In May 2022, American Express helps small companies in France by launching the third edition of the Shop Small operation.
- In April 2022, In a new collaboration with Microsoft Corp., Mastercard announced the launch of an upgraded identification solution meant to improve the online shopping experience and digital combat fraud.
Europe Prepaid Card Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Insights on Various Regulatory Trends
- 4.5 Insights on impact of technology and innovation
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4.6 Industry Attractiveness - Porters' Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Card Type
- 5.1.1 Multi-Purpose
- 5.1.2 Single-purpose
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5.2 By Vertical
- 5.2.1 Retail
- 5.2.2 Corporate Institutions
- 5.2.3 Government
- 5.2.4 Financial Institutions & Others
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5.3 By Usage
- 5.3.1 General Purpose Reloadable Cards
- 5.3.2 Gift Card
- 5.3.3 Government Benefits Disbursement Card
- 5.3.4 Incentive Payroll Card
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5.4 By Geography
- 5.4.1 Germany
- 5.4.2 France
- 5.4.3 United Kingdom
- 5.4.4 Russia
- 5.4.5 Netherlands
- 5.4.6 Spain
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concetration Overview
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6.2 Company Profiles
- 6.2.1 Visa
- 6.2.2 Mastercard
- 6.2.3 PayPal Holdings Inc.
- 6.2.4 American Express Company
- 6.2.5 Green Dot Corporation
- 6.2.6 Travel Money Card Plus
- 6.2.7 ecoCard
- 6.2.8 FairFX Anywhere Card
- 6.2.9 Thomas Cook Cash Passport
- 6.2.10 BREADFX Euro Prepaid MasterCard
- 6.2.11 Payoneer Prepaid MasterCard
- 6.2.12 Acorn Account Prepaid Debit MasterCard*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Europe Prepaid Card Industry Segmentation
Where consumers or companies prefer to utilize an electronic means of payment without attaching the payment to a credit or debit account, prepaid cards have replaced cash, checks, and other payment cards. However, various taxes and security concerns are projected to limit market expansion. Europe Prepaid Card Market segmented By Card Type (Multi-Purpose, Single-purpose), Vertical (Retail, Corporate Institutions, Government, Financial Institutions & Others), Usage (General Purpose Reloadable Cards, Gift Card, Government Benefits Disbursement Card, Incentive Payroll Card), Geography (Germany, France, the United Kingdom, Russia, Netherlands, and Spain).
| By Card Type | Multi-Purpose |
| Single-purpose | |
| By Vertical | Retail |
| Corporate Institutions | |
| Government | |
| Financial Institutions & Others | |
| By Usage | General Purpose Reloadable Cards |
| Gift Card | |
| Government Benefits Disbursement Card | |
| Incentive Payroll Card | |
| By Geography | Germany |
| France | |
| United Kingdom | |
| Russia | |
| Netherlands | |
| Spain |
Europe Prepaid Card Market Research FAQs
What is the current Prepaid Cards Market size?
The Prepaid Cards Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Prepaid Cards Market?
Visa , Mastercard, PayPal Holdings Inc., American Express Company and Green Dot Corporation are the major companies operating in the Prepaid Cards Market.
What years does this Prepaid Cards Market cover?
The report covers the Prepaid Cards Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Prepaid Cards Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Prepaid Card in Europe Industry Report
Statistics for the 2024 Prepaid Card in Europe market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Prepaid Card in Europe analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
