United Kingdom Prepaid Cards Market Report 2021: Market is Expected to Grow by 12.5% to Surpass $50 Billion in 2021 - Forecast to 2025

Dublin, Nov. 17, 2021 (GLOBE NEWSWIRE) -- The "United Kingdom 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 Kingdom is expected to grow by 12.5% on annual basis to reach US$ 50,574.1 million in 2021.

The prepaid card market expected to grow over the forecast period, recording a CAGR of 11.3% during 2021-2025. The prepaid card market in the United Kingdom will increase from US$ 44,947.0 million in 2020 to reach US$ 68,951.2 million by 2025.

The impact of the global pandemic has been strongly felt by brick-and-mortar retailers globally. A similar trend was observed in the United Kingdom. Leading retailers are still struggling to make ends meet as fewer shoppers are visiting local parades and malls. Moreover, the lockdown has also accelerated the move towards online shopping, adding to the misery of physical retail stores. Therefore, the UK government is taking several steps to support retailers and promote digital payments. For instance,

The Northern Ireland government announced to offer free shopping prepaid cards to adults as part of the £145 million plan to support the brick-and-mortar stores. The government disbursement through prepaid cards would mean that 1.4 million people in Northern Ireland over 18 years would have an extra £100 to spend on high streets rather than online.

Corporate prepaid card platform Soldo raised US$180 million in the United Kingdom:

For a long time, expense management has been a pain point for employees and accounting departments, not only in the United Kingdom but also in other parts of the world. Startups are raising funds to develop innovative products, including expense management and a corporate prepaid card platform to overcome challenges and simplify the process. For instance,

In July 2021, Soldo, a London-based platform that issues employees with prepaid company cards linked with an automated expense management system, raised US$180 million in funding. Moreover, Soldo serves more than 26,000 customers, ranging from small to medium-sized businesses to mid-market enterprises and large multinationals across 30 countries. Some of its customers include Mercedes Benz, Bauli, and Brooks Running, among several others.

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 United Kingdom.

• 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:

United Kingdom 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 Kingdom 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 Kingdom 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 Kingdom Prepaid Card Consumer Usage Trends

• By Age Group

• By Income Group

• By Gender

United Kingdom 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 Kingdom 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

United Kingdom Transit and Tolls Prepaid Card Market Size and Forecast

United Kingdom Healthcare and Wellness Prepaid Card Market Size and Forecast

United Kingdom Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast

United Kingdom Fuel Prepaid Cards Market Size and Forecast

United Kingdom Utilities, and Other Prepaid Cards Market Size and Forecast

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