Dublin, Oct. 14, 2021 (GLOBE NEWSWIRE) -- The "United States 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 United States is expected to grow by 14.8% on annual basis to reach US$ 641,848.6 million in 2021.
The prepaid card market expected to grow over the forecast period, recording a CAGR of 12.3% during 2021-2025. The prepaid card market in the United States will increase from US$ 558,957.8 million in 2020 to reach US$ 889,248.9 million by 2025.
As the economy reopened from the pandemic lockdowns, spending on debit and prepaid cards in the United States increased significantly. Notably, this increased spending on debit and prepaid cards were helped by the rising number of travelers and continued online shopping strength.
The use of prepaid cards as vaccine incentives is driving the prepaid card growth:
As of July 2021, nearly 50% of residents in the country were fully vaccinated. In their efforts to overcome the vaccine hesitancy among the citizens, state and local governments have unveiled a range of vaccine incentive schemes. For instance,
In July 2021, New York City government announced a US$100 incentive for anyone who gets their vaccination done at a city-run site. Notably, the incentive program is available for all city residents and employees who have not taken their first dose of vaccine yet. Under the vaccine incentive program by the NYC government, all of the residents who take their first dose of vaccine would be emailed a US$100 digital prepaid card. For those without an email address will receive a physical prepaid card.
Prepaid card companies launching innovative solutions for property owners:
Digitization has revolutionized almost every other industry verticals, including the real estate industry. Technology providers are innovating with their product offerings to ensure unique business needs are met. For instance,
In July 2021, RealPage, a leading global provider of software and data analytics to the real estate industry, launched a new prepaid MasterCard solution designed to modernize the funds' distribution system in the real estate industry. Notably, the first-to-market prepaid card service will transform the way properties offer refunds, incentives, rewards, and reimbursements to their residents.
Scope:
United States 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
United States Open Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
United States Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
United States Prepaid Card Consumer Usage Trends
- By Age Group
- By Income Group
- By Gender
United States 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
United States Entertainment and Gaming Prepaid Card Market Size and Forecast
United States 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
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
United States Transit and Tolls Prepaid Card Market Size and Forecast
United States Healthcare and Wellness Prepaid Card Market Size and Forecast
United States Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
United States Fuel Prepaid Cards Market Size and Forecast
United States Utilities, and Other Prepaid Cards Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/kkhcvp
