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Analysis on the Global Prepaid Card Market, 2019-2024 - Move Towards a Cashless Society is Substantial and a Major Driver of the Prepaid Card Market

DUBLIN, Nov. 28, 2019 /PRNewswire/ -- The "Prepaid Card Market: Payment Trends, Market Dynamics, and Forecasts 2019 - 2024" report has been added to ResearchAndMarkets.com's offering.

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The report provides forecasts for 2019 to 2024 covering all major areas including corporate usage, retail and government.

This report evaluates the major driving factors for prepaid card ownership and usage. The report evaluates usage market segment including demographic profile, card type, and industry vs. government programs.

The report assesses retail challenges relative to shopping and related card usage. The report also analyzes the payments ecosystem including issues related to mobile payments in contrast to physical card usage.

Despite the dominant trend towards mobile and contactless payments, the prepaid card market remains vibrant and dynamic. In certain parts of the world, physical cards remain the preferred mechanism for payments along with cash.

In the United States, prepaid cards remain the preferred choice for the unbanked market segment as well as the market for under the table transactions. However, the US government is increasingly clamping down on illegal activities with broad measures of investigation and enforcement. Some market segments prefer to use physical cards in certain situations.

Surprisingly, the millennial generation has a high affinity towards certain cards, especially designer offerings as they appeal to their sense of style.

There is a robust market for both closed loop and open loop prepaid cards. In the case of the former, major merchants leverage prepaid cards as a means of furthering brand identity and driving additional sales such as the gifting market. In addition, the unbanked market often turns to cards as a means of conducting non-cash, debit transactions.

Closed loop cards are getting increasingly creative in terms of how they position themselves within the overall payments ecosystem. This is an interesting dynamic as the same companies are also pushing hard for next-generation mobile payments and wireless wallet infrastructure.

The move towards a cashless society is substantial, further driving the prepaid card market. However, we see a transition from physical cards (credit and debit) towards completely virtual. This will not happen without continual improvements in identity management, privacy, and security measures. This will disenfranchise many consumers globally that are unbanked, under-banked, credit challenged, and/or working under the table.

Key Topics Covered

1 Banking Impacts Payment Flexibility
1.1 The Unbanked and Under-banked Segments
1.2 Payment Models
1.3 Mobile Payment Methods
1.4 Unbanked / Under-banked Population

2 Payments Ecosystem Challenges
2.1 Economic Issues
2.2 Multiple-Nationalities
2.3 Banking Accounts
2.4 Cost Factors
2.5 Security Issues

3 Payments for the Unbanked Segment
3.1 Overview
3.2 Unbanked/Under-banked Population in United States

4 Retail Challenges Impacting Commerce and Payments
4.1 Retail Demand Depends on the Economy
4.2 Industry Concentration
4.3 Seasonal Cash Flow
4.4 Crime-Related Losses
4.5 Protecting Customer Information
4.6 Trends Affect Demand
4.7 High Worker Turnover
4.8 Changing Buyers Need

5 Online Shopping Challenges and Opportunities
5.1 The Rise of High-Tech Shopping
5.2 Which Products are Most Vulnerable?
5.3 Wireless Challenges at the Point of Sale
5.4 Shopping with Smartphone Trends

6 Merchant Strategies
6.1 Embrace Rather than Fight Against the Current Trend
6.2 Offer Unique Products
6.3 Offer In-Store Reviews
6.4 Focus on Brand
6.5 Enable and Empower In-store Shoppers
6.6 Digitize Your Store and Your Employees

7 Convert Shoppers into Buyers
7.1 Boost Loyalty and Sales
7.2 Personalizing the Shopping Experience
7.3 Analyzing Data
7.4 Figuring Out the Potential of Mobile Devices
7.5 Embracing Social Media

8 Data Solutions to Support the Strategies
8.1 Finding the Easy Data
8.2 Getting at "Hidden Data"
8.3 Mining "Big Data"

9 Strategies for Checkout and Point of Payment
9.1 Keep Form Filling to Bare Minimum
9.2 Organize the Checkout into Stages
9.3 Add Progress Step Links or Back Buttons
9.4 Utilize Familiar Mobile UI Elements
9.5 Enable Guest Checkouts
9.6 Offer Quick Payment Options
9.7 Remove Distractions
9.8 Provide Security Reassurances
9.9 Take Advantage of Geolocation
9.10 Keep it Lightweight

10 Prepaid Cards Market Forecasts, 2019-2024
10.1 Aggregated Markets
10.2 Regional Markets for Prepaid Cards
10.3 Prepaid Markets by End-User Segment
10.4 Prepaid Cards by Demographics

For more information about this report visit https://www.researchandmarkets.com/r/kmwaqz

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