74 reports

With the macroeconomy back on track and people returning to their normal lives, financial cards and payments in China is expected to recover to above the pre-pandemic level in value terms in 2021. Card payments, especially debit cards, continue to dominate the overall consumer payments landscape, and a large part of transactions are completed...

  • Payments
  • Pre-Paid Card
  • China
  • Number Of Card
  • Credit Card Transaction

The COVID-19 pandemic is the catalyst that contributed to Vietnamese consumers realising the practical benefits of cashless payments. During 2020-2021, the Vietnamese government, banks, financial institutions and fintech companies have strongly focused to boost cashless payment activities and develop newer technologies to adapt to requirements. Financial...

  • Payments
  • Pre-Paid Card
  • Vietnam
  • Number Of Card
  • Credit Card Transaction

In 2021, the total number of cards in circulation is set to see a rebound, compensating for the flat growth in 2020. Commercial credit cards are likely to witness the strongest growth in terms of newly issued cards as companies shift away from traditional payment methods. Financial Cards and Payments in South Korea report establishes...

  • Payments
  • Pre-Paid Card
  • South Korea
  • Number Of Card
  • Credit Card Transaction

2020 was a year of great economic uncertainty in Chile due to the pandemic. As cases peaked, the government introduced long periods of quarantine that drove many businesses to bankruptcy as well as increasing the unemployment rate. Chilean consumers became price sensitive and cautious towards spending, reducing the number of transactions made...

  • Payments
  • Pre-Paid Card
  • Chile
  • Number Of Card
  • Credit Card Transaction

Traditionally, closed loop pre-paid transportation cards could only be used for public transport purposes. However, this is evolving as transportation cards in New South Wales are not only trialling a digital version that can be added to a user’s mobile wallet but will also consumers to be able to pay for Uber rides, taxis and share bikes...

  • Pre-Paid Card
  • Australia
  • Number Of Card
  • Card Transaction

Aside from digital wallets, the monopoly held by local issuer of open pre-paid cards, Octopus Holdings, has emerged as the biggest winner from the local government’s consumption voucher scheme. Hong Kong’s Financial Secretary Paul Chan stated that 70% of local consumers, approximately 4.9 million people, collected the first round of HKD2,000...

  • Pre-Paid Card
  • China
  • Number Of Card
  • Card Transaction

Facing a surge in the number of internet users and the boom of e-commerce, it is hard to see strong prospects for the development of pre-paid cards as a substitute for traditional payments at present, especially as there are many reported cases of pre-paid card disputes. Against such a background, in 2020 pre-paid cards was undoubtedly impacted...

  • Pre-Paid Card
  • China
  • Number Of Card
  • Card Transaction

Open loop pre-paid cards issued by banks had been in decline prior to the outbreak of COVID-19 with these products losing out to mobile wallets which have increased in popularity. However, banks have seen an opportunity amidst the COVID-19 pandemic to rebuild interest and demand for their open loop pre-paid cards. It is much easier to apply...

  • Pre-Paid Card
  • Philippines
  • Number Of Card
  • Card Transaction

The Large-Scale Social Restrictions Policy (PSBB) imposed by the Indonesian Government to reduce the spread of COVID-19 disrupted a range of customer activities including the ability to travel for work and leisure during 2020. Pre-paid cards are mostly used for travel and transport related activities in Indonesia such as road tolls, parking,...

  • Pre-Paid Card
  • Indonesia
  • Number Of Card
  • Card Transaction

Open loop pre-paid cards is a new type of card for Chilean financial cards and payments. Although there were some attempts in previous years by independent players to launch virtual open loop pre-paid cards that were mainly used for online purposes, by 2020 the category had significantly gained in popularity. Retailers which were already present...

  • Pre-Paid Card
  • Chile
  • Number Of Card
  • Card Transaction

In Singapore, the vast majority of closed loop pre-paid card issuers and operators are retail and foodservice players. Many of them see the advantages of closed loop pre-paid cards in offering a cashless payment solution, which simplifies the administration processes associated with cash management. Many of these operators also utilise their...

  • Pre-Paid Card
  • Singapore
  • Number Of Card
  • Card Transaction

The pandemic, and the resultant government-enforced national lockdown, continued to accelerate the growth of gift cards in 2021, which accounts for the majority of closed loop pre-paid cards in circulation. Merchant-issued gift cards remained particularly popular in the first half of the year, as physical gifting was still not possible. Pre-Paid...

  • Pre-Paid Card
  • United Kingdom
  • Number Of Card
  • Card Transaction

In 2021, pre-paid cards continue to be one of the most preferred financial cards for the youngest or unbanked population in Italy, due to the easiness of accessing this payment method. However, as with other financial cards, the rise of contactless payments has driven usage of pre-paid cards to a greater demographic with consumers looking...

  • Pre-Paid Card
  • Italy
  • Number Of Card
  • Card Transaction

During 2020, pre-paid cards saw a severe negative impact from COVID-19, with the number of pre-paid cards and card transaction value and volume all declining along with the contraction in the population, especially driven by blue collar workers and lower-income consumer groups, who are the key segments using these cards in the United Arab...

  • Pre-Paid Card
  • United Arab Emirates
  • Number Of Card
  • Card Transaction

Closed loop pre-paid cards continue to dominate in terms of cards in circulation, number of transactions and value sales, with the category divided between transportation cards and merchant issued gift cards. With more people working/studying from home and being encouraged to avoid public places and transport, the number of travel card trips...

  • Pre-Paid Card
  • Denmark
  • Number Of Card
  • Card Transaction

To prevent further learning losses as a result of remote education, the Ministry of Education recommended that schools, except for higher education institutions, could resume in-person classes for the new academic year starting in March 2021. Most schools re-opened their sites for students although many had to return to remote classes during...

  • Pre-Paid Card
  • South Korea
  • Number Of Card
  • Card Transaction

Due to the ongoing economic and societal disruption caused by COVID-19, pre-paid card volume and current value transactions are set to remain in negative territory in 2021. However, rates of decline should slow significantly from 2020 as the epidemiological situation in Canada steadily improves with the rollout of vaccines. Closed loop pre-paid...

  • Pre-Paid Card
  • Canada
  • Number Of Card
  • Card Transaction

Whilst consumers moved away from cash during COVID-19, pre-paid cards has not benefited from this. The use of cash in Sweden was already exceptionally low in the global perspective, whilst at the same time the average person has access to a debit card, so for example, there is no need for a consumer to use an open loop pre-paid card instead...

  • Pre-Paid Card
  • Sweden
  • Number Of Card
  • Card Transaction

Following the first round of fiscal stimulus authorised by the CARES Act in March 2020, two more rounds were approved and dispersed to US consumers in 2021. The second round included one-time payments of USD600 per adult and per child, of which eight million were sent out via pre-paid card by the IRS. This was double that of the first round. Pre-Paid...

  • Pre-Paid Card
  • United States
  • Number Of Card
  • Card Transaction

Pre-paid cards saw a strong decline in 2020, due to social isolation measures and other restrictions related to out of home and tourism activities. Although overall pre-paid cards is set to recover significantly in 2021, current value and volume transactions are expected to remain well under the 2019 pre-pandemic level. In fact, the return...

  • Pre-Paid Card
  • Austria
  • Number Of Card
  • Card Transaction

Argentina’s economic activity has stagnated since 2011 and the country has faced stubbornly high inflation since 2007. In December 2019, the launch of the pre-paid card Alimentar was announced as part of efforts to address the deep economic contraction that Argentina was going through in that year. Alimentar is received by fathers or mothers...

  • Pre-Paid Card
  • Argentina
  • Number Of Card
  • Card Transaction

Pre-paid cards is showing a recovery in 2021 in both transaction volume and value terms following the sharp pandemic-induced decline in both respects in 2020. However, with the exception of store cards, pre-paid card transaction value remains the lowest among financial cards, illustrating the limited use and relatively small target group....

  • Pre-Paid Card
  • Germany
  • Number Of Card
  • Card Transaction

The Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt) is forming a tri-party collaboration with start-up Khazna and Masria Digital Payments (MDP), a leading end-to-end e-payment solutions provider. The collaboration will see the launch of a Sharia-compliant Meeza pre-paid cobranded card, called the ADIB-Khazna Meeza. The card aims to extend mobile...

  • Pre-Paid Card
  • Egypt
  • Number Of Card
  • Card Transaction

There are no open-loop pre-paid cards in Morocco, and the number of closed-loop pre-paid cards (and the value of transactions made using them) was in decline even before the onset of the pandemic. The increased use of debit cards was the main driver of this fall. In the past, much of the use of pre-paid cards among the Moroccan population...

  • Pre-Paid Card
  • Morocco
  • Number Of Card
  • Card Transaction

EasyCard and iCash are the major transportation cards in Taiwan although these cards are also widely accepted at retail and foodservice merchants. Prior to the outbreak of COVID-19 pre-paid cards such as these were seeing dynamic growth, being seen as a safe and convenient way for busy commuters to pay their fares and make small on-the-go...

  • Pre-Paid Card
  • Taiwan
  • Number Of Card
  • Card Transaction

The number of general purpose reloadable cards in circulation has substantially increased since the emergence of the pandemic, to become the dominant format within open loop pre-paid cards and gain further share from employee benefit cards. Pre-Paid Card Transactions in Peru report establishes the size and structure of the market...

  • Pre-Paid Card
  • Peru
  • Number Of Card
  • Card Transaction

Széchenyi Pihenokártya (SZÉP Card) products will remain the most popular pre-paid cards amongst Hungarian consumers when it comes to fringe benefits. In 2020, the government made temporary changes to the regulations surrounding such cards to encourage employers to allocate more funds to the self-service cafeterias that Széchenyi Pihenokártya...

  • Pre-Paid Card
  • Hungary
  • Number Of Card
  • Card Transaction

The transition to a cashless society has been supported by the Japanese government, which is aiming for cashless payments to account for 40% of overall payments by 2025. The COVID-19 pandemic further accelerated a shift towards cashless payments, due to consumers seeking to avoid using cash in order to minimise their potential exposure to...

  • Pre-Paid Card
  • Japan
  • Number Of Card
  • Card Transaction

The COVID-19 crisis has stimulated open-loop dynamics among players operating in employee benefit cards. Companies in this segment have sought to provide new ways of accepting payments and to increase business potential by enlarging partnerships with merchants and establishing agreements with delivery and takeaway service companies, such as...

  • Pre-Paid Card
  • Portugal
  • Number Of Card
  • Card Transaction

The pandemic has had a significant impact on demand for pre-paid cards, in addition to transaction value sales, as these financial cards tend to be used for leisure or transport, and less on basic services and necessities of living. Pre-Paid Card Transactions in Israel report establishes the size and structure of the market for ATMs...

  • Pre-Paid Card
  • Israel
  • Number Of Card
  • Card Transaction