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UK Prepaid Card Market (2023-2028) by Card Type, Services, and End-User, Competitive Analysis, Impact of Covid-19 with Ansoff Analysis

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  • 174 Pages
  • January 2023
  • Region: United Kingdom
  • Infogence Global Research
  • ID: 5566932

In 2020, due to the social distance requirement and lockdowns that compelled people to purchase from their homes, digital gift card and eVoucher sales in the UK increased by over 50%. 

The UK’s Prepaid Card Market is estimated to be USD 208.47 Bn in 2023 and is expected to reach USD 521.12 Bn by 2028, growing at a CAGR of 20.11%.

Market Dynamics

Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.

Market Segmentations

The UK’s Prepaid Card Market is segmented based on Card Type, Services, and End-User.
  • By Card Type, the market is classified into Closed Loop Prepaid Card and Open Loop Prepaid Card.
  • By Services, the market is classified into General Purpose Reloadable Card, Gift Cards, Government Benefit/Disbursement card, Incentive/Payroll Card, and Others.
  • By End-User, the market is classified into Retail Establishments, Corporate, Government/Public Sector, Financial Institutions, and Others.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are ANNA, Caxton FX Ltd., Mastercard, PayPal Holdings, Inc. Visa, Inc., etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the UK’s Prepaid Card Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the UK’s Prepaid Card Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the UK’s Prepaid Card Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including the parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the UK Prepaid Card Market

What is the estimated value of the UK Prepaid Card Market?

The UK Prepaid Card Market was estimated to be valued at $208.47 Billion in 2023.

What is the growth rate of the UK Prepaid Card Market?

The growth rate of the UK Prepaid Card Market is 20.1%, with an estimated value of $521.12 Billion by 2028.

What is the forecasted size of the UK Prepaid Card Market?

The UK Prepaid Card Market is estimated to be worth $521.12 Billion by 2028.

Who are the key companies in the UK Prepaid Card Market?

Key companies in the UK Prepaid Card Market include ANNA, Brink's, Inc., Cashplus Bank, Caxton FX Ltd., Edenred SA, Equals Business Expense Card, Mastercard, PayPal Holdings, Inc. and Soldo.

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders

2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Analyst Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study

3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook

4 Market Dynamics
4.1 Drivers
4.1.1 Growing Prepaid Card Adoption among Millennials and Contract Workers
4.1.2 Rise in Demand for Cash Alternatives
4.1.3 Increase in Awareness and Ease-Of-Access to Prepaid Cards
4.1.4 Large Number of Internet Users and Boom in the E-Commerce Industry
4.2 Restraints
4.2.1 Strict Assessment by the Banks Before Providing Prepaid Cards
4.3 Opportunities
4.3.1 Growth of Unbanked and Underbanked Population
4.3.2 Increase in Virtual Prepaid Cards
4.3.3 Prepaid-as-a-Service White Label Solutions on the Rise
4.4 Challenges
4.4.1 Concern to Fraudulent Attacks

5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of Covid-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis

6 UK’s Prepaid Card Market, By Card Type
6.1 Introduction
6.2 Closed Loop Prepaid Card
6.3 Open Loop Prepaid Card

7 UK’s Prepaid Card Market, By Services
7.1 Introduction
7.2 General Purpose Reloadable Card
7.3 Gift Cards
7.4 Government Benefit/Disbursement card
7.5 Incentive/Payroll Card
7.6 Others

8 UK’s Prepaid Card Market, By End-User
8.1 Introduction
8.2 Retail Establishments
8.3 Corporate
8.4 Government/Public Sector
8.5 Financial Institutions
8.6 Others

9 Competitive Landscape
9.1 Competitive Quadrant
9.2 Market Share Analysis
9.3 Strategic Initiatives
9.3.1 M&A and Investments
9.3.2 Partnerships and Collaborations
9.3.3 Product Developments and Improvements

10 Company Profiles
10.1 ANNA
10.2 Brink's, Inc.
10.3 Cashplus Bank
10.4 Caxton FX Ltd.
10.5 Edenred SA
10.6 Equals Business Expense Card
10.7 Mastercard
10.8 PayPal Holdings, Inc.
10.9 Pleo Financial Services A/S
10.10 Soldo
10.11 Total System Services, Inc.
10.12 Travelex Group Ltd.
10.13 Visa, Inc.

11 Appendix
11.1 Questionnaire

Companies Mentioned

  • ANNA
  • Brink's, Inc.
  • Cashplus Bank
  • Caxton FX Ltd.
  • Edenred SA
  • Equals Business Expense Card
  • Mastercard
  • PayPal Holdings, Inc.
  • Pleo Financial Services A/S
  • Soldo
  • Total System Services, Inc.
  • Travelex Group Ltd.
  • Visa, Inc.