Partnerships And Collaborations Are Gaining Popularity In The Prepaid Card Market

The Business Research Company’s Prepaid Card Global Market Report 2021: COVID 19 Impact and Recovery to 2030

LONDON, GREATER LONDON, UK, March 4, 2021 /EINPresswire.com/ -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

Read More On The Global Prepaid Card Market Report: https://www.thebusinessresearchcompany.com/report/prepaid-card-global-market-report

Major players operating in the industry are undertaking various strategic initiatives such as partnerships and collaborations, which are gaining significant popularity as prepaid cards market trends. Companies are collaborating with other market players to offer prepaid cards with flexible credit limits to attract a large consumer base for a prepaid card. For instance, in November 2020, MobiKwik collaborated with American Express (Amex) card network to introduce its first virtual prepaid payments card with a flexible credit limit. With the launch of the prepaid payment card, MobiKwik becomes the first non-bank in India to issue cards.

Other major players covered in the prepaid card industry report are BBVA Compass Bancshares Inc., Green Dot Corporation, JPMorgan Chase & Co., Kaiku Finance LLC., Mango Financial Inc, NetSpend Holdings Inc, PayPal Holdings Inc, UniRush LLC, Master Card Incorporated, TSYS, Ebay, Visa Inc., The Western Union Company.

In March 2019, Prepaid Financial Services Limited, a London-based financial services company acquired a physical prepaid card portfolio of Barclaycard in the UK for an undisclosed amount. This acquisition will enable Prepaid Financial Services Limited to offer an enhanced service to existing and future Payroll and Corporate clients. Barclaycard is a UK-based financial services company that helps consumers, retailers, and businesses to make and take payments flexibly, and to access short-term credit and point of sale finance.

The global prepaid card market size is expected to grow from $12.99 billion in 2020 to $13.87 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $21.22 billion in 2025 at a CAGR of 11.2%.

The prepaid card market covered in this report is segmented by type into general-purpose reloadable card, prepaid gift card, government benefit card, payroll card, others, by card type into an open-loop prepaid card, closed-loop prepaid card, by application into retail establishments, corporate institutions, government, others.

Prepaid Card Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides prepaid card market overview, forecast prepaid card market size and growth for the whole market, prepaid card market segments, and geographies, prepaid card market trends, prepaid card market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

Request For A Sample Of The Global Prepaid Card Market Report: https://www.thebusinessresearchcompany.com/sample.aspx?id=3710&type=smp

Here Is A List Of Similar Reports By The Business Research Company:
Cards Global Market Report 2021: COVID 19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/cards-global-market-report-2018

Payments Global Market Report 2021: COVID 19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/payments-global-market-report-2018

Digital Payments Global Market Report 2020-30: COVID 19 Implications and Growth
https://www.thebusinessresearchcompany.com/report/digital-payments-global-market-report-2020-30-covid-19-implications-and-growth

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