How large is the prepaid card market, and what is its growth trajectory?_x000D_
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The prepaid card market size has grown rapidly in recent years. It will grow from $24.91 billion in 2024 to $28.37 billion in 2025 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to regulatory landscape, consumer behavior and preferences, economic conditions, financial inclusion initiatives, partnerships and collaborations._x000D_
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The prepaid card market size is expected to see rapid growth in the next few years. It will grow to $46.16 billion in 2029 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to anticipated regulatory changes, evolving consumer preferences, economic outlook, financial inclusion initiatives, strategic partnerships. Major trends in the forecast period include enhanced security features, green and sustainable practices, inclusion and accessibility, digital wallet integration, regulatory compliance._x000D_
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Which industry factors have accelerated the prepaid card market’s expansion?_x000D_
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Increasing the use of prepaid cards as a substitute for traditional bank cards is a key factor driving the growth of the prepaid card market. A prepaid card is not connected to a bank checking account or a draught account for a credit union share, instead, users invest money in advance deposited into the prepaid card account. For instance, in May 2024, according to Recharge, a Netherlands-based online prepaid payments company, a survey conducted with 2,000 UK adults aged 18 and over shows that 1 in 5 Brits (approximately 11.4 million) utilize prepaid cards, marking an 118% increase since the onset of the cost-of-living crisis. Among these users, 34% (about 3.9 million) indicated that they use prepaid cards to maintain control over their finances, while 26% (around 3 million) do so to prevent falling into debt. Therefore, increasing usage of prepaid cards is expected to propel the growth of the prepaid card market in the forecast period._x000D_
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What are the primary segments of the prepaid card market?_x000D_
The prepaid card market covered in this report is segmented –_x000D_
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1) By Type: General-Purpose Reloadable Card, Prepaid Gift Card, Government Benefit Card, Payroll Card, Other Types_x000D_
2) By Card Type: Open Loop Prepaid Card, Closed Loop Prepaid Card_x000D_
3) By Application: Retail Establishments, Corporate Institutions, Government, Other Applications_x000D_
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Subsegments:_x000D_
1) By General-Purpose Reloadable Card: Travel Cards, Everyday Spending Cards, Digital Wallet Linked Cards_x000D_
2) By Prepaid Gift Card: Retail Gift Cards, Restaurant Gift Cards, E-Gift Cards_x000D_
3) By Government Benefit Card: Social Security Cards, Unemployment Benefit Cards, Food Assistance Cards_x000D_
4) By Payroll Card: Corporate Payroll Cards, Small Business Payroll Cards_x000D_
5) By Other Types: Health Savings Account (HSA) Cards, Student Cards, Incentive Or Rewards Cards_x000D_
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Which firms are leading the prepaid card market?_x000D_
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Major companies operating in the prepaid card market include Walmart Inc., JPMorgan Chase & Co., American Express Company, Visa Inc., PayPal Holdings Inc., Truist Financial Corporation, Mastercard Incorporated, Regions Financial Corporation, The Western Union Company, Total System Services LLC, Akimbo Financial Inc., Green Dot Corporation, Republic Bank & Trust Company, Pathward N.A., Insight Card Services Inc., NetSpend Holdings Inc., Rêv Worldwide Inc., FamZoo Inc., Prepaid2cash Holdings Inc., BBVA Compass Bancshares Inc., Kaiku Finance LLC, Mango Financial Inc., Bluebird by American Express, Prepaid Expense Card Solutions Inc., Achieve Financial Services LLC, MovoCash Inc., Cashflows_x000D_
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Which market trends are set to define the future of the prepaid card market?_x000D_
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Major companies operating in the prepaid card market are innovating new products, such as Neokred to increase their profitability in the market. Neokred is a payments infrastructure enabler that aids businesses in smoothly launching their banking solutions. For instance, in July 2023, Giverly, a US-based social impact fintech startup, launched Neokred. The card, which is co-branded with Visa and Transcorp International, is a charity payback platform that turns online purchases into gratuitous contributions that have real impact on some of the most important humanitarian issues. The card is intended to change the way people give to charities and give to charities, providing each organization a real effect._x000D_
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Which geographic trends are shaping the prepaid card market, and which region has the highest market share?_x000D_
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The countries covered in the prepaid card market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain_x000D_
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What Does The Prepaid Card Market Report 2025 Offer?_x000D_
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The prepaid card market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities._x000D_
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Prepaid cards are preloaded payment cards issued by financial institutions that can be used to make both online and in-store payments. Once the amount loaded on the card is used, it may be disposed of (for a non-reloadable prepaid card) or reloaded (for a reloadable prepaid card) by the cardholder._x000D_
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