Dublin, March 08, 2022 (GLOBE NEWSWIRE) — The report “Europe Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend” has been added to from ResearchAndMarkets.com offer.
The prepaid card market (by value) in Europe grew at a CAGR of 8.5% during the period 2017-2021. During the forecast period from 2022 to 2026, the market is expected to register a CAGR of 10.3%, growing from US$251.53 billion in 2022 to US$372.77 billion by 2026.
According to the Global Prepaid Cards Market Survey Q4 2021, consumers and retailers have mostly avoided cash transactions due to fear of spreading the coronavirus over the past four to six quarters in Europe. The trend has propelled the demand for digital wallets in many European countries.
It has also been observed that consumers in the UK, Germany, France, Italy and Sweden are increasingly incentivized to use prepaid cards during this period. Therefore, the publisher expects an increase in fundraising activities and innovative product launches by fintech companies over the next four to six quarters in the European prepaid card market.
FinTech firms raise funds to integrate social banking into UK prepaid card schemes
As more consumers in the country demand prepaid payment instruments and innovative digital banking services, new startups are emerging and raising funding rounds in the UK to compete with more established players.
- In August 2021, Kroo, a London-based social banking startup, raised US$24.5 million in Series A funding. According to Kroo, the social bank plans to use the funding to strengthen operations, improve its app and grow the team ahead of its planned launch in 2022.
- The startup aims to enable its users to participate in shared financial activity and support social causes with financial power. Kroo notably plans to test this concept through a prepaid card offer in partnership with PayrNet.
Partnerships are multiplying to develop a digital instant prepaid gift card solution in France
The French e-commerce industry has given an impetus to the use of gift cards by customers. Therefore, payment service providers and digital gift card providers are collaborating to provide innovative product solutions to attract more customers.
- In April 2021, payment service provider, Nets, and gift card provider, Gifted, are collaborating to introduce a digital prepaid gift card solution in France.
- With this new offer, consumers can instantly receive the single-use gift card in their wallet.
- In addition, merchant customers can also integrate these cards into their usual payment system.
The publisher expects this innovative new solution to be convenient for consumers, but merchants can also quickly integrate these gift cards into their platform. Consequently, the partnership should capture a larger clientele in the short and medium term.
Public transport operators launch prepaid cards in Germany
With the growing need for contactless payments amid the pandemic, the government is taking various initiatives to introduce contactless prepaid cards to reduce the use of cash in the country.
- In October 2021, the German public transport company, Berliner Verkehrsbetriebe (BVG), introduced a new method of payment on buses in the form of prepaid cards in Germany.
- Passengers will be able to enjoy all bus journeys by loading a maximum credit of 150 euros on the card and can also be used on all products available in BVG customer centers.
- Initially, BVG prepaid cards will be available at customer centers, which can be loaded there or on the online portal.
- This transport card is not specifically linked to a particular person and the amount can be withdrawn if not used.
Fintech companies team up with football clubs in Italy to launch prepaid cards for football fans
Various fintech companies are developing innovative products in partnership with football clubs targeting football fans, thereby increasing their customer base.
- In December 2021, an Italian professional football club based in Rome, AS Roma, partnered with a British fintech company, REPX, to launch an innovative new prepaid card for Giallorossi fans.
- The Giallorossi prepaid card is specially designed for fans to interact with their favorite team. In addition, Giallorossi fans can access exclusive offers and be informed about merchandising, buy tickets, also to obtain invitations to exclusive events.
- Users of the prepaid card will also have the advantage of transferring money instantly between supporters without any fees.
Scope
Digital Wallet Market Size and Forecast
- Transaction value trend analysis
- Trading volume trend analysis
- Average value per transaction
Digital Wallet Market Size and Forecast by Key Segments
- Retail purchases (value, volume, average value)
- Trip (value, volume, average value)
- Entertainment and games (value, volume, average value)
- Restaurant (value, volume, average value)
- Recharge and bill payment (value, volume, average value)
Market attractiveness of the prepaid card industry
- Load value trend analysis
- Transaction value trend analysis
- Trading volume trend analysis
- Average value per transaction
- Number of cards
Market Share Analysis by Functional Attributes – Open Loop vs Closed Loop, 2016 – 2025
Analysis of market shares by categories of prepaid cards
Future growth dynamics of open-loop prepaid cards, 2016 – 2025
- Transaction value trend analysis
- Trading volume trend analysis
- Average value per transaction
- Number of cards
Future growth dynamics of closed-loop prepaid cards, 2016 – 2025
- Transaction value trend analysis
- Trading volume trend analysis
- Average value per transaction
- Number of cards
General Purpose Prepaid Cards Market Size and Forecast
Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
- By Open Loop gift card
- By closed-loop gift card
- By Retail Consumer Segment
- By corporate consumer segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location
Entertainment and Gaming Prepaid Cards Market Size and Forecast
Teen and Campus Prepaid Cards Market Size and Forecast
Teen and Campus Prepaid Cards Market Size and Forecast by Functional Attribute
- By Open Loop Teen and Campus prepaid card
- By Closed Loop Teen and Campus prepaid card
Trade and Administrative Expense Prepaid Cards Market Size and Forecast
- By Small Scale Business Segment
- By intermediate business segment
- By business sector
- By government segment
Payroll Prepaid Cards Market Size and Forecast
- By Small Scale Business Segment
- By intermediate business segment
- By business sector
- By government segment
Prepaid Meal Cards Market Size and Forecast
- By Small Scale Business Segment
- By intermediate business segment
- By business sector
- By government segment
Travel Forex Prepaid Cards Market Size and Forecast
- By retail
- By Small Scale Business Segment
- By intermediate business segment
- By business sector
- By government segment
Transit and Toll Prepaid Cards Market Size and Forecast
Health and Wellness Prepaid Cards Market Size and Forecast
Social Security and Other Government Benefit Programs Prepaid Cards Market Size and Forecast
Fuel Prepaid Card Market Size and Forecast
Utilities and Other Prepaid Cards Market Size and Forecast
Companies cited
- Wesfarmers Ltd
- Woolworths Ltd (Australia)
- Metcash Ltd
- Aldi Group
- Harvey Norman Holdings Ltd.
- JB Hi-Fi Ltd
- Apple Inc.
- SM Retail Inc.
- Puregold Price Club Inc
- Group Rustan of Cos
- Seven & I Holdings Co Ltd
- Hutchison Whampoa Ltd
- Metro SA
- San Miguel Corp.
- Salim Group
- Trans Retail Indonesia PT
- Matahari Putra Prima Tbk PT
- Sumber Alfaria Trijaya Tbk PT
- Delhaize Group SA
- Kompas Gramedia Group
- Ace Hardware Corp.
- NTUC FairPrice Co-operative Pte Ltd
- Dairy Farm International Holdings Ltd
- Shen Siong Supermarket Pte Ltd
- Takashimaya Co Ltd
- Mustafa Holdings Pte Ltd
- Asia Courts Ltd
- Al Futtaim Group LLC
- Yamada Denki Co Ltd
- Tesco Plc
- Central Retail Company
- Home PCL Product Center
- Mall Group Co Ltd, The
- Charoen Pokphand Group
- Alibaba Group Holding Ltd
- JD.com Inc.
- Auchan Group SA
- Wal-Mart Stores Inc.
- Bailian Group Co Ltd
- Yonghui Supermarket Group
- Flipkart Online Services Pvt Ltd
- Tata Group
- future group
- Trust group
- Amazon.com Inc.
- Aditya Birla Group
- K Raheja Corp
- AEON Group
- Lawson inc.
- FamilyMart Co Ltd
- Rakuten Inc.
- Isetan Mitsukoshi Holdings Ltd.
- Lotte Group
- Shinsegae Co Ltd
- Hyundai Department Store Co Ltd
- GS Holdings Corp.
- SK Planet Co Ltd
- BGF Retail Co Ltd
- Costco Wholesale Corp.
For more information about this report visit https://www.researchandmarkets.com/r/7gdigz