The EEA prepaid card market is expected to grow at a promising rate during the forecast period

PORTLAND, OREGON, UNITED STATES, December 17, 2020 /EINPresswire.com/ -- Drivers, restraints, and opportunities-

Increase in need for cash alternatives, development of the e-commerce industry, and availability of affordable and energy-efficient prepaid cards have boosted the growth of the EEA prepaid card market. However, lack of standardization and fraudulent attacks hinder the market growth. On the contrary, surge in the unbanked and underbanked population would open new opportunities for the market players in the future.

Allied Market Research recently published a report, titled, "EEA Prepaid Card Market by Functional Attribute (Open-loop Card and Closed-loop Card), Card Type (General Purpose Card, Gift Card, Government Benefit/Disbursement Card, Payroll Card, and Others), End User (Retail, Corporate, and Government/Public Sector), and Application (Food & Groceries, Pharmacy & Drug Stores, Restaurants & Bars, Consumer Electronics, Media & Entertainment, and Others): Opportunity Analysis and Industry Forecast, 2020–2027". As per the report, the EEA prepaid card industry was pegged at $182.64 billion in 2019, and is expected to reach $500.27 billion by 2027, registering a CAGR of 14.7% from 2020 to 2027.

Download Sample Report (265+ Pages PDF): https://www.alliedmarketresearch.com/request-sample/8294

The EEA prepaid card market is fragmented with the presence of key vendors such as American Express Company, JPMorgan Chase & Co., Kaiku Finance, LLC., IDT Financial Services Limited, moneycorp, H&R Block, Inc., Mango Financial, Inc., Payoneer Inc., PayPal Holdings, Inc., and Netspend. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key Benefits for Stakeholders

The study provides an in-depth analysis of the EEA prepaid card market share along with the current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
An extensive analysis of the key segments of the industry helps to understand the EEA prepaid card market trends.
The quantitative analysis of the EEA prepaid card market from 2020 to 2027 is provided to determine the market potential.

Covid-19 scenario:
• As pandemic has severely affected the global economy, several people lost their jobs, which has limited usage of funds in the region.
• The need to implement better product offering by providing discounts for prepaid card usage has increased during the Covid-19 pandemic.
• Even during Covid-19 pandemic, the financial services industry is highly competitive, which has created huge opportunities for market players to introduce numerous benefits & offers.

Get detailed COVID-19 impact analysis on the Eea Prepaid Card Market:

The open-loop card segment dominated the market: https://www.alliedmarketresearch.com/request-for-customization/8294?reqfor=covid

By functional attribute, the global open-loop card segment held the largest share in 2019, accounting for nearly three-fifths of the EEA prepaid card market, owing to surge in demand for multipurpose prepaid cards. However, the closed-loop card segment is estimated to register the highest CAGR of 16.3% during the forecast period, due to easy accessibility, low risk of frauds, and low-interest charges.

Get detailed COVID-19 impact analysis on the EEA Prepaid Card Market

The retail segment held the largest share

By end user, the retail segment dominated the market in 2019, contributing to more than half of the EEA prepaid card market, due to growing large customer base shifting from traditional shopping to online shopping in various countries of Europe. However, the corporate segment is anticipated to manifest the highest CAGR of 16.5% during the forecast period, as prepaid card is safer than transactions through debit card, credit cards, and checks.

The media & entertainment segment to manifest the highest CAGR through 2027

By application, the media & entertainment segment is estimated to register the highest CAGR of 17.9% during the forecast period, as numerous sports organizations across the globe have adopted prepaid card payment options for reducing major problems for owners such as tickets, pricing & change requirement, reconciliation, transaction times, and improving security. However, the food & groceries segment held the lion's share in 2019, accounting for around one-fourth of the EEA prepaid card market, due to its numerous benefits such as improved operational efficiencies, better customer satisfaction, upsurge the revenue, and lower operating cost.

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EEA Prepaid Card Market

Key Segments

By Functional Attribute
• Open-loop Card
• Closed-loop Card
By Card Type
• General Purpose Card
• Gift Card
• Government Benefit/Disbursement card
• Payroll card
• Others
By End User
• Retail
• Corporate
• Government/Public Sector
By Application
• Food & Groceries
• Pharmacy & Drug Stores
• Restaurants & Bars
• Consumer Electronics
• Media & Entertainment
• Others
By Country
• Italy
• Belgium
• Denmark
• Finland
• France
• Germany
• Iceland
• Ireland
• Austria
• Norway
• Poland
• Spain
• The Netherlands
• Rest of EEA

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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