Market is Expected to Increase from $43.91 Billion in 2022 to Reach $65.54 Billion by 2026 & More News Here

Dublin, May 12, 2022 (GLOBE NEWSWIRE) — 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) in the United Kingdom elevated at a CAGR of 8.7% throughout 2017-2021. Over the forecast interval of 2022 to 2026, the market is anticipated 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 cost devices, masking spend by way of pay as you go playing cards and digital wallets throughout retail and company client segments. In addition, it supplies a snapshot of client behaviour and retail spend dynamics in 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 completely different initiatives to assist the county’s native and impartial merchants primarily to assist them recuperate 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 recuperate from the pandemic.

• Notably, the council will promote the ‘Shop Local’ pay as you go card by way of 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 perform in the United Kingdom

• In September 2021, PayPal UK launched a brand new digital pockets for its customers in the United Kingdom, which has an added charity perform.

• Through this app, customers get an choice to create custom-made neighborhood fundraising campaigns.

• The app customers in 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.

Story continues

Blackhawk Network constructing partnerships to strengthen its reward card portfolio in the United Kingdom

Since the demand for reward playing cards is rising in the United Kingdom, partnerships to provide reward card packages to entice prospects 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 in the United Kingdom.

• Through this partnership, Iceland will present an in-store reward card mall comprising its personal branded reward playing cards and likewise a spread of third celebration reward playing cards in all of the shops.

• Iceland, by way of CashStar, will probably be ready to launch an internet B2c and B2b reward card proposition in the market. Notably, CashStar is powered by Blackhawk Network.

The writer expects, with rising demand for reward card options, extra partnerships will probably be witnessed in the nation, subsequently offering impetus to the expansion of the pay as you go card market in the United Kingdom over the following 4 to eight quarters.

FinTech firms are elevating funds to combine social banking with pay as you go card packages in the United Kingdom

As increasingly more shoppers in the nation demand modern pay as you go cost devices and digital banking companies, new startups are rising and elevating funding rounds in 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 group earlier than its deliberate launch in 2022.

• The startup is aiming to enable its customers to take part in shared monetary exercise and again social causes with monetary would possibly. Notably, Kroo is planning to take a look at this idea by way of 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

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

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/uxs3lg

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