DUBLIN , May 13, 2022 /PRNewswire/ — The “United Kingdom Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend” report has been added to ResearchAndMarkets.com’s providing.
The pay as you go card market (worth phrases) within the United Kingdom elevated at a CAGR of 8.7% throughout 2017-2021. Over the forecast interval of 2022 to 2026, the market is predicted to document a CAGR of 10.5%, rising from US$43.91 billion in 2022 to attain US$65.54 billion by 2026.
This report supplies an in depth knowledge centric evaluation of pay as you go fee devices, protecting spend via pay as you go playing cards and digital wallets throughout retail and company shopper segments. In addition, it supplies a snapshot of shopper behaviour and retail spend dynamics within the United Kingdom. With over 100 KPIs at nation stage, this report supplies complete understanding of pay as you go card and digital pockets card market dynamics.
Government initiatives to launch pay as you go playing cards to assist native retailers
The authorities of the United Kingdom is adopting totally different initiatives to assist the county’s native and impartial merchants primarily to assist them get better from the pandemic.
- In November 2021, Herefordshire Council is offering pay as you go playing cards loaded with £15 to every of the county’s 90,000 households to assist the native producers, retailers, and shopkeepers get better from the pandemic.
- Notably, the council will promote the ‘Shop Local’ pay as you go card via the distribution of leaflets, and the households want to apply for the pay as you go card.
- These pay as you go playing cards can be utilized to make level of sale purchases inside Herefordshire that accepts Mastercard funds.
PayPal introduces a digital pockets with fundraising operate within the United Kingdom
- In September 2021, PayPal UK launched a brand new digital pockets for its customers within the United Kingdom, which has an added charity operate.
- Through this app, customers get an choice to create personalized neighborhood fundraising campaigns.
- The app customers within the United Kingdom by way of “PayPal Generosity Network” can use QR codes for purchases, entry credit score, in addition to purchase, maintain and promote crypto.
Blackhawk Network constructing partnerships to strengthen its reward card portfolio within the United Kingdom
Since the demand for reward playing cards is rising within the United Kingdom, partnerships to provide reward card applications to entice clients are additionally rising.
- In June 2021, Blackhawk Network, a worldwide chief in branded funds, has partnered with Iceland Food to launch Iceland’s reward card program within the United Kingdom.
- Through this partnership, Iceland will present an in-retailer reward card mall comprising its personal branded reward playing cards and additionally a spread of third get together reward playing cards in all of the shops.
- Iceland, via CashStar, shall be in a position to launch a web-based B2c and B2b reward card proposition out there. Notably, CashStar is powered by Blackhawk Network.
The writer expects, with rising demand for reward card options, extra partnerships shall be witnessed within the nation, subsequently offering impetus to the expansion of the pay as you go card market within the United Kingdom over the following 4 to eight quarters.
FinTech corporations are elevating funds to combine social banking with pay as you go card applications within the United Kingdom
As extra and extra shoppers within the nation demand revolutionary pay as you go fee devices and digital banking companies, new startups are rising and elevating funding rounds within the United Kingdom to compete with extra established gamers.
- In August 2021, Kroo, a London-based social banking startup, raised US$24.5 million in Series A Funding. According to Kroo, the social financial institution is planning to use the funding to bulk up operations, enhance its app, and develop the workforce earlier than its deliberate launch in 2022.
- The startup is aiming to permit its customers to take part in shared monetary exercise and again social causes with monetary may. Notably, Kroo is planning to check this idea via a pay as you go card providing in partnership with PayrNet.
Scope of the Report
United Kingdom Digital Wallet Market Size and Forecast
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
United Kingdom Digital Wallet Market Size and Forecast by Key Segments
- Retail Shopping (Value, Volume, Avg. Value)
- Travel (Value, Volume, Avg. Value)
- Entertainment and Gaming (Value, Volume, Avg. Value)
- Restaurant (Value, Volume, Avg. Value)
- Recharge and Bill Payment (Value, Volume, Avg. Value)
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
Market Share Analysis by Prepaid Card Categories
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
United Kingdom Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
- By Open Loop Gift Card
- By Closed Loop Gift Card
- 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
United Kingdom 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
United Kingdom Business and Administrative Expense Prepaid Card Market Size and Forecast
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
United Kingdom Payroll Prepaid Card Market Size and Forecast
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
United Kingdom Meal Prepaid Card Market Size and Forecast
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
United Kingdom Travel Forex Prepaid Card Market Size and Forecast
- 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
For extra details about this report go to https://www.researchandmarkets.com/r/cdtw5l
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