Dublin, Nov. 12, 2021 (GLOBE NEWSWIRE) -- The "Mexico 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 Mexico is expected to grow by 23.2% on annual basis to reach US$ 22,672.4 million in 2021.
The prepaid card market expected to grow over the forecast period, recording a CAGR of 16.8% during 2021-2025. The prepaid card market in Mexico will increase from US$ 18,397.8 million in 2020 to reach US$ 34,261.9 million by 2025.
The use of prepaid cards has increased over the last few quarters in Mexico, primarily because of the arrival of innovative, low-cost prepaid solutions launched by FinTech and neobanks in the country.
The growth in the segment is also driven by the welfare cards offered by the Mexican government, transport cards, payroll cards, and gift cards. The publisher expects the prepaid card segment to post a robust growth rate over the next four to six quarters, as FinTech firms keep innovating with their prepaid card launches.
Strategic partnerships are rising to launch innovative prepaid cards in Mexico:
Mexico had an estimated unbanked population of 40 million; however, the growth in FinTech adoption has led to a radical change in the consumption methods of consumers in the country. As a result, FinTech firms are entering into strategic partnerships to launch innovative prepaid card solutions for boosting financial inclusion in Mexico. For instance,
In August 2021, i2c, which offers digital and banking technology, entered into a strategic partnership with customer loyalty program PAYBACK and lending company KEO to provide Mexican consumers prepaid AMEX cards.
Regional companies are expanding their reach in the Mexican prepaid card market:
As the global pandemic fueled the demand for cashless payment options among consumers in the country, Argentina-based FinTech firm, Uala, which has already issued more than 2.5 million prepaid cards in Argentina, launched its services in Mexico in September 2020. Since its launch, Uala has issued more than 100,000 prepaid cards in less than six months of its operations in Mexico. Consumers can use the prepaid MasterCard for online and in-store purchases.
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 Mexico.
- 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:
Mexico 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
Mexico Open Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Mexico Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Mexico Prepaid Card Consumer Usage Trends
- By Age Group
- By Income Group
- By Gender
Mexico General Purpose Prepaid 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
Mexico Entertainment and Gaming 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
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
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
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
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
Mexico Healthcare and Wellness Prepaid Card Market Size and Forecast
Mexico Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/wqixwo
