Australia Prepaid Cards Market and Investment Report

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Dublin, October 26, 2021 (GLOBE NEWSWIRE) – The “Australia Prepaid Cards Business and Investment Opportunities – Market Size and Forecast (2016-2025), Consumer Attitude & Behavior, Retail Spend, Market Risk” report was added to ResearchAndMarkets.com offer.

According to the second quarter 2021 Global Prepaid Card Survey, the prepaid card market in Australia is expected to grow 12.7% on an annual basis to reach US $ 22,325.7 million in 2021.

The prepaid cards market is expected to grow over the forecast period, registering a CAGR of 11.1% during 2021-2025. The prepaid card market in Australia will grow from US $ 19,808.7 million in 2020 to reach US $ 30,219.1 million by 2025.

The presence of global and local companies makes the Australian prepaid card market more competitive. However, fintech startups are finding new ways to handle intense competition and expand their reach. Therefore, the market has noticed product innovation and the launch of new products in the past two years. Fintech companies are also involved in mergers and acquisitions to increase their market share in the prepaid card segment.

The coronavirus pandemic has not only caused human lives, but has affected the economy of the country as a whole. The nationwide lockdown has hampered the day-to-day operations of many industries and dramatically increased the unemployment rate. Additionally, Australians have experienced an increase in healthcare spending during this period. Health care companies have introduced gift cards to support family and friends.

Growing market opportunities are attracting foreign fintech players:

The strong growth of the Australian prepaid card segment market is encouraging foreign companies to locate in the country. Increased demand and favorable government policy are the key factors attracting foreign players to the country’s prepaid card market. For example,

In June 2021, Marqeta, a US-based financial technology company, entered into a partnership with Novatti. According to the company, the partnership will launch its prepaid card business in Australia. Marqeta is considered the first open API payment platform and Novatti is a key player in the Australian payments industry.

Innovation in the prepaid card segment is expected to drive market growth:

With increasing competition in the prepaid card category, companies are focusing on product innovation to separate their services. The market has seen several product launches in recent years. In addition, the challenges posed by other payment options such as buy it now, pay afterwards create a need for innovation in the prepaid card segment. For example,

Revolut Junior Prepaid Card: In August 2020, Revolut, a UK-based financial technology company, launched its service in Australia. With its launch, the company began to offer basic financial services in the country. However, to expand its target market and product offering, the company launched its Revolut Junior accounts for teens (ages 7 to 17) in November 2020.

Scope:

Attractiveness of the prepaid card industry market in Australia

  • Trend analysis of the load value
  • Analysis of transaction value trends
  • Analysis of transaction volume trends
  • 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

Future Growth Dynamics of Open Loop Prepaid Cards in Australia, 2016 – 2025

  • Analysis of transaction value trends
  • Analysis of transaction volume trends
  • Average value per transaction
  • Number of cards

Future growth dynamics of closed-loop prepaid cards in Australia, 2016 – 2025

  • Analysis of transaction value trends
  • Analysis of transaction volume trends
  • Average value per transaction
  • Number of cards

Trends in the use of prepaid cards in Australia

  • By age group
  • By income group
  • By gender

Australia 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 consumption segment
  • By business consumption segment

Gift Card Market Share Analysis by Retail Category

Gift Card Market Share Analysis by Gift Occasion

Gift Card Market Share Analysis by Place of Purchase

Australia Entertainment and Gaming Prepaid Cards Market Size and Forecast

Teen and Campus Prepaid Cards Market Size and Forecast by Functional Attribute

  • By Open Loop Teen and Campus prepaid card
  • By prepaid card for teenagers and closed-loop campus

Commercial and Administrative Fee Prepaid Cards Market Size and Forecast by Consumer Segments

  • By small-scale business segment
  • By intermediate business segment
  • By business segment
  • By government segment

Prepaid Payroll Cards Market Size and Forecast by Consumer Segments

  • By small-scale business segment
  • By intermediate business segment
  • By business segment
  • By government segment

Prepaid Meal Cards Market Size and Forecast by Consumer Segments

  • By small-scale business segment
  • By intermediate business segment
  • By business segment
  • By government segment

Travel Forex Prepaid Cards Market Size and Forecast by Consumer Segments

  • By retail
  • By small-scale business segment
  • By intermediate business segment
  • By business segment
  • By government segment

Australia Transit and Toll Prepaid Card Market Size and Forecast

Australia Healthcare and Wellness Prepaid Card Market Size and Forecast

Australia Prepaid Card Market Size and Forecast

Australia Prepaid Card Market Size and Forecast

Australian Utilities and Other Prepaid Cards Market Size and Forecast

For more information on this report, visit https://www.researchandmarkets.com/r/b0m8y5


        


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