The India prepaid cards market size reached US$ 119.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 759.2 Billion by 2028, exhibiting a CAGR of 36.19% during 2022-2028.
The monetary value of prepaid card is stored in itself, so these cards do not require opening of a direct deposit or lending account with a bank. Some prepaid cards are not reloadable, i.e. gift cards, and such cards are disposed after their virtual amount is entirely used. On the other hand, reloadable prepaid cards can be replenished with funds repeatedly. Prepaid cards can be obtained online as well as from retailers including supermarkets, gas stations, office supply stores and drug stores.
The publisher’s latest report provides a deep insight into the India prepaid cards market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the India prepaid cards market in any manner.
2. What is the expected growth rate of the India prepaid cards market during 2023-2028?
3. What are the key factors driving the India prepaid cards market?
4. What has been the impact of COVID-19 on the India prepaid cards market?
5. What is the breakup of the India prepaid cards market based on the card type?
6. What is the breakup of the India prepaid cards market based on the purpose?
7. What is the breakup of the India prepaid cards market based on the vertical?
8. What are the key regions in the India prepaid cards market?
9. Who are the key players/companies in the India prepaid cards market?
The monetary value of prepaid card is stored in itself, so these cards do not require opening of a direct deposit or lending account with a bank. Some prepaid cards are not reloadable, i.e. gift cards, and such cards are disposed after their virtual amount is entirely used. On the other hand, reloadable prepaid cards can be replenished with funds repeatedly. Prepaid cards can be obtained online as well as from retailers including supermarkets, gas stations, office supply stores and drug stores.
Market Trends:
A prepaid card is a convenient mode of payment, and it requires very little time or cost to get one. Prepaid cards, in addition, to be an alternative to cash, offer security and greater ease of transaction to consumers. Owing to the increasing penetration of smartphones and internet, India has witnessed significant growth in the e-commerce industry in the last decade, which has catalyzed the growth of online payments using prepaid cards. The growth has also been driven by demonetization and the government’s encouragement towards cashless economy. In addition to this, increasing number of organized retailers has also contributed to the growth of the prepaid cards market in India.The publisher’s latest report provides a deep insight into the India prepaid cards market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the India prepaid cards market in any manner.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the India prepaid cards market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on card type, purpose and vertical.Breakup by Card Type:
- Closed Loop Cards
- Open Loop Cards
Breakup by Purpose:
- Payroll/ Incentive Cards
- Travel Cards
- General Purpose Reloadable (GPR) Cards
- Remittance Cards
- Others
Breakup by Vertical:
- Corporate/Organization
- Retail
- Government
- Others
Breakup by Region:
- West and Central India
- South India
- North India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key player being Axis Bank, Itz Cash, ICICI Bank, SBI, HDFC, PNB, Yes Bank, Sodexo, Kotak Mahindra Bank, Oxyigen, Hermes, India Transact Services and Western Union.Key Questions Answered in This Report
1. What was the size of the India prepaid cards market in 2022?2. What is the expected growth rate of the India prepaid cards market during 2023-2028?
3. What are the key factors driving the India prepaid cards market?
4. What has been the impact of COVID-19 on the India prepaid cards market?
5. What is the breakup of the India prepaid cards market based on the card type?
6. What is the breakup of the India prepaid cards market based on the purpose?
7. What is the breakup of the India prepaid cards market based on the vertical?
8. What are the key regions in the India prepaid cards market?
9. Who are the key players/companies in the India prepaid cards market?
Frequently Asked Questions about the Indian Prepaid Cards Market
What is the estimated value of the Indian Prepaid Cards Market?
What is the growth rate of the Indian Prepaid Cards Market?
What is the forecasted size of the Indian Prepaid Cards Market?
Who are the key companies in the Indian Prepaid Cards Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 108 |
| Published | March 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 119 Billion |
| Forecasted Market Value ( USD | $ 759.2 Billion |
| Compound Annual Growth Rate | 36.1% |
| Regions Covered | India |
| No. of Companies Mentioned | 13 |
Table of Contents
1 Preface3 Executive Summary
2 Scope and Methodology
4 Introduction
5 India Prepaid Cards Market
6 Market Breakup by Card Type
7 Market Breakup by Purpose
8 Market Breakup by Vertical
9 Market Breakup by Region
10 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Axis Bank
- Itz Cash
- ICICI Bank
- SBI
- HDFC
- PNB
- Yes Bank
- Sodexo
- Kotak Mahindra Bank
- Oxyigen
- Hermes
- India Transact Services
- Western Union
Methodology
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