Dublin, Dec. 01, 2021 (GLOBE NEWSWIRE) -- The "Singapore Prepaid Cards Business and Investment Opportunities - Market Size and Forecast (2016-2025), Consumer Attitude & Behaviour, Retail Spend, Market Risk" report has been added to ResearchAndMarkets.com's offering.
According to the Q2 2021 Global Prepaid Card Survey, prepaid card market in the Singapore is expected to grow by 13.5% on annual basis to reach US$ 8,742.8 million in 2021.
The prepaid card market expected to grow over the forecast period, recording a CAGR of 12.1% during 2021-2025. The prepaid card market in Singapore will increase from US$ 7,702.8 million in 2020 to reach US$ 12,169.3 million by 2025.
Singapore is one of the leading countries in the prepaid card segment in Southeast Asia. With increased mobile penetration, the country became one of the early adopters of the digital payment system. Moreover, the country's strong banking system drives the overall payment infrastructure. In recent years, many global companies have launched their services in the country.
Additionally, the rising market attractiveness also created growth avenues for fintech companies in the country. The government-backed digital payment system has emerged as one of the key factors for the prepaid card market growth. According to the publisher, the growing acceptance of digital prepaid cards across all sectors such as transportation, hospitality, and e-commerce is expected to drive market growth over the next two to three quarters.
Product innovation is expected to drive the market growth:
In Singapore, the prepaid card market is getting saturated with the increasing number of fintech companies are establishing their operation in the country. Moreover, the banking system is quite strong and spread across the country. Therefore, fintech companies are trying to distinguish themselves by introducing new products and services.
Razor Prepaid Card: In October 2020, Razer Inc., through its fintech arm Razer Fintech launched the Razer Prepaid Card in Singapore. The company partnered with Visa for this virtual card. According to the company, users have to sign up with the company without bearing any cost and they can later upgrade to the physical premium or standard card. The card can be used for gaming and paying at more than 60 million merchant sites where Visa is accepted.
Reasons to buy:
- In-depth understanding of prepaid card market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid cards in Singapore.
- Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid cards strategy; assess market specific key trends, drivers and risks in prepaid cards industry.
- Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards.
Scope:
Singapore Prepaid Card Industry Market Attractiveness
- Load Value Trend Analysis
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Market Share Analysis by Functional Attributes - Open Loop vs. Closed Loop, 2016 - 2025
Market Share Analysis by Prepaid Card Categories
Singapore Open Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Singapore Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Singapore Prepaid Card Consumer Usage Trends
- By Age Group
- By Income Group
- By Gender
Singapore General Purpose Prepaid Card Market Size and Forecast
Singapore Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
- By Open Loop Gift Card
- By Closed Loop Gift Card
Gift Card Market Size and Forecast by Consumer Segments
- By Retail Consumer Segment
- By Corporate Consumer Segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location
Singapore Entertainment and Gaming Prepaid Card Market Size and Forecast
Singapore Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
- By Open Loop Teen and Campus Prepaid Card
- By Closed Loop Teen and Campus Prepaid Card
Singapore Business and Administrative Expense Prepaid Card Market Size and Forecast
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Singapore Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Singapore Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Singapore Travel Forex Prepaid Card Market Size and Forecast
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
- By Retail
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Singapore Transit and Tolls Prepaid Card Market Size and Forecast
Singapore Healthcare and Wellness Prepaid Card Market Size and Forecast
Singapore Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
Singapore Fuel Prepaid Cards Market Size and Forecast
Singapore Utilities, and Other Prepaid Cards Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/kqmv5g
