DUBLIN, Nov. 15, 2021 /PRNewswire/ -- The "United States 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.
The prepaid card market in the United States is expected to grow by 14.8% on annual basis to reach US$ 641,848.6 million in 2021.
The prepaid card market expected to grow over the forecast period, recording a CAGR of 12.3% during 2021-2025. The prepaid card market in the United States will increase from US$ 558,957.8 million in 2020 to reach US$ 889,248.9 million by 2025.
As the economy reopened from the pandemic lockdowns, spending on debit and prepaid cards in the United States increased significantly. Notably, this increased spending on debit and prepaid cards were helped by the rising number of travelers and continued online shopping strength.
The use of prepaid cards as vaccine incentives is driving the prepaid card growth
As of July 2021, nearly 50% of residents in the country were fully vaccinated. In their efforts to overcome the vaccine hesitancy among the citizens, state and local governments have unveiled a range of vaccine incentive schemes.
In July 2021, New York City government announced a US$100 incentive for anyone who gets their vaccination done at a city-run site. Notably, the incentive program is available for all city residents and employees who have not taken their first dose of vaccine yet. Under the vaccine incentive program by the NYC government, all of the residents who take their first dose of vaccine would be emailed a US$100 digital prepaid card. For those without an email address will receive a physical prepaid card.
Prepaid card companies launching innovative solutions for property owners
Digitization has revolutionized almost every other industry verticals, including the real estate industry. Technology providers are innovating with their product offerings to ensure unique business needs are met.
In July 2021, RealPage, a leading global provider of software and data analytics to the real estate industry, launched a new prepaid MasterCard solution designed to modernize the funds' distribution system in the real estate industry. Notably, the first-to-market prepaid card service will transform the way properties offer refunds, incentives, rewards, and reimbursements to their residents.
Report Scope:
- United States Prepaid Card Industry Market Attractiveness
- Market Share Analysis by Functional Attributes - Open Loop vs. Closed Loop, 2016 - 2025
- Market Share Analysis by Prepaid Card Categories
- United States Open Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- United States Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
- United States Prepaid Card Consumer Usage Trends
- United States General Purpose Prepaid Card Market Size and Forecast
- United States Gift Card Market Size and Forecast
- Gift Card Market Size and Forecast by Functional Attribute
- Gift Card Market Size and Forecast by Consumer Segments
- 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 States Entertainment and Gaming Prepaid Card Market Size and Forecast
- United States Teen and Campus Prepaid Card Market Size and Forecast
- Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
- United States Business and Administrative Expense Prepaid Card Market Size and Forecast
- Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
- United States Payroll Prepaid Card Market Size and Forecast
- Payroll Prepaid Card Market Size and Forecast by Consumer Segments
- United States Meal Prepaid Card Market Size and Forecast
- Meal Prepaid Card Market Size and Forecast by Consumer Segments
- United States Travel Forex Prepaid Card Market Size and Forecast
- Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
- United States Transit and Tolls Prepaid Card Market Size and Forecast
- United States Healthcare and Wellness Prepaid Card Market Size and Forecast
- United States Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
- United States Fuel Prepaid Cards Market Size and Forecast
- United States Utilities, and Other Prepaid Cards Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/ia7hgk
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