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The Europe Prepaid Card Market Size would grow at a growth of 22.3% CAGR during the forecast period (2016 - 2022).
Prepaid card is an alternative form of payment, where funds are connected directly to a card without the need to be linked to a bank account. Prepaid cards are easily available unlink other cards that require credit rating, income, bank account, etc. The prepaid cards are a substitute to traditional bank accounts, and are widely used in retailer stores, e-commerce, and other platforms. These forms of cards were primarily introduced to cater to the unbanked population and individuals with limited access to bank services.
European regions would offer excellent opportunities for growth as the need for cash alternatives have grown substantially. Additionally, rapid growth in the adoption of prepaid cards in retail establishments & government sectors, and rapidly growing awareness about the benefits of prepaid cards in these regions has propelled the market growth. The prepaid card market in Europe is majorly driven due to the growing demand for smart cards and increased adoption of prepaid cards for easy payment.
These factors have contributed to the widespread adoption of prepaid cards in corporate institutions, government bodies, financial Institutions, & others. Based on Card Type, the market is segmented into and Single-Purpose. Based on Vertical, the market is segmented into Retail, Corporate Institutions, Government, and Financial Institutions & Others.
Based on Usage, the market is segmented into General Purpose Reloadable Cards, Gift Card, Government BenefitsDisbursement Card, Incentive Payroll Card, and Others. The report also covers geographical segmentation of Prepaid Card market. Based on Country, Prepaid Card market is segmented into Germany, UK, France, Russia, Spain, Italy and Rest of Europe. Europe remained the dominant country in the Europe Prepaid Card market in 2015.
France and Spain would witness promising CAGR during the forecast period (2016-2022). The report covers the analysis of key stake holders of the Prepaid Card market. Key companies profiled in the report include Green Dot Corporation, American Express Company, JPMorgan Chase & Co., Master Card Incorporated, Ebay, TSYS, The Western Union Company, and Visa, Inc.