Africa & Middle East Prepaid Card and Digital Wallet Market Databook 2022: Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend, 2017-2021 & 2022-2026

DUBLIN, March 9, 2022 /PRNewswire/ -- The "Africa & Middle East 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 offering.

The prepaid card market (value terms) in Africa & Middle East increased at a CAGR of 10.8% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 13.7%, increasing from US$56.52 billion in 2022 to reach US$94.61 billion by 2026.

The demand for prepaid cards surged significantly as an alternative to cash in the last four to six quarters in the Africa & Middle East region. The growth in the adoption of prepaid card payment methods in this region is primarily because of the rise in technology-driven products and services. Moreover, governments are persuading the consumers in the region to use cashless payment methods such as digital and mobile wallets, thereby supporting the growth of prepaid cards in the region.

Prepaid cards are also gaining increasing adoption among consumers who do not have a good credit score or an existing bank account in the region. Moreover, prepaid cards are also gaining traction among students, expatriate workers, and blue-collar service providers, as the payment solution offers a range of services such as sending remittances, payroll processing, gifting, government benefit disbursement, and several others.

Telecom providers are integrating virtual prepaid cards in their digital wallets in South Africa

With the rise in online shopping among South Africans, digital wallet providers are developing virtual payment solutions with fintech partners. 

• In June 2021, South African wireline and wireless telecommunications provider Telkom, introduced a virtual card for use on WhatsApp for its digital wallet, Telkom Pay, users.
• Telkom collaborated with Mastercard, Nedbank, and leading fintech enablement partner Ukheshe Technologies to launch this virtual prepaid card.
• The virtual prepaid card will be linked to the wallet, and users can transact online through this card.

Banks are building partnerships with digital payments providers to launch virtual 'buy now pay later' prepaid cards in the UAE

With the popularity of buy-now, pay-later (BNPL) solutions in the UAE, partnerships are building up to gain market share. 

• In September 2021, Abu Dhabi Islamic Bank (ADIB), an Islamic financial institution has partnered up with Spotii, a digital payments provider, to launch a virtual BNPL prepaid card for the first time in the UAE.
• Through the virtual prepaid card, customers will make in-store and online purchases with merchants and spread out the cost of their purchases across several installments with zero interest rates.
• All the users can access the virtual prepaid card via the Spotii Mobile app and load money to fund the cost-free installment payments.

Ride sharing companies are building partnerships with fintechs to introduce mobile app-based payments in Turkey

With the country adopting cashless initiatives, technology firms are partnering with taxi firms and banking providers to explore a convenient payment method where the taxi drivers will not need any separate point of sale (POS) terminal or any other additional hardware to receive payments. 

• In August 2021, Turkish taxi firm, Taxi 724 piloted a software POS (sPOS) solution provided by Payneer Technology. The technology will enable NFC enabled Android devices to make contactless payment through an app.
• The company also partnered with Yapi Kredi bank to facilitate consumers.
• The app will be accompanied by a prepaid card, where the collected money can be transferred and used to withdraw cash from ATMs or making card payments.

Amazon collaborated with local artists to launch theme-based gift cards in Saudi Arabia

Online platforms are collaborating with local artists and influencers to design gift cards for special occasions or festival greetings. 

• In May 2021, Saudi artist Majd Shaker Jaha created a new collection featuring artistic designs for Amazon for the occasion of Eid Al-Fitr. These Eid-themed electronic gift cards are available on Amazon.ae.
• The special edition Eid-themed eGift Cards are also available in different denominations. Moreover, the Amazon.ae Gift Card can be redeemed by the user while entering the code during the time of check out or even can add to their Amazon.ae account.

Scope

Digital Wallet Market Size and Forecast

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction

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)

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

Open Loop Prepaid Card Future Growth Dynamics, 2016 - 2025

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

General Purpose Prepaid Card Market Size and Forecast

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

Entertainment and Gaming Prepaid Card Market Size and Forecast

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

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

Payroll Prepaid Card Market Size and Forecast

• 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 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 Retail
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Transit and Tolls Prepaid Card Market Size and Forecast

Healthcare and Wellness Prepaid Card Market Size and Forecast

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

Fuel Prepaid Cards Market Size and Forecast

Utilities, and Other Prepaid Cards Market Size and Forecast

Companies Mentioned

• Aldi Group
• XXXLutz Group
• Schwarz Beteiligungs GmbH
• Steinhoff International Holdings Ltd
• M-Preis Warenvertriebs GmbH (Molk)
• Amazon.com Inc
• Etn Franz Colruyt NV
• Delhaize Group Sa
• Inter Ikea Systems BV
• Blokker Nederland BV
• FDB Group
• Dansk Supermarked A/S
• Dagrofa ApS
• Reitangruppen AS
• Dixons Carphone Plc
• Jysk Holding A/S
• S Group
• Kesko Oyj
• Alko Oy
• Suomen Lahikauppa Oy
• Stockmann Oyj Abp
• Carrefour SA
• E Leclerc
• ITM Enterprises SA
• Auchan Group SA
• Systeme U Centrale Nationale Sa
• Edeka Zentral AG & Co KG
• Rewe Group
• dm-Drogerie Markt GmbH & Co KG
• Tengelmann Group, The
• Dirk Rossmann KG
• Globus Holding GmbH & Co
• H&M Hennes & Mauritz AB
• Sklavenitis J&S SA
• Marinopoulos SA
• Diamantis Masoutis SA
• Inditex, Industria de Diseno Textil SA
• Hondos Bros
• Coop Italia scarl
• CONAD - Consorzio Nazionale Dettaglianti Scrl
• Esselunga SpA
• Selex Gruppo Commerciale SpA
• Gruppo Eurospin
• Crai Secom SpA
• Apple Inc
• Royal Ahold NV
• Jumbo Supermarkten BV
• Sperwer Holding BV
• Intergamma BV
• Hema BV
• Detailresult Groep NV
• Jeronimo Martins SGPS SA
• Tesco Plc
• Eurocash SA
• Metro AG
• Euro-net Sp zoo
• Magnit OAO
• X5 Retail Group NV
• Dixy Group OAO
• Lenta OOO
• M Video OAO
• DNS Group
• El Corte Ingles SA
• Eroski Grupo
• Migros Genossenschaftsbund eG
• Coop Genossenschaft
• Maus Freres SA
• fenaco-LANDI Gruppu
• Associated British Foods Plc
• Next Plc
• J Sainsbury Plc
• Wal-Mart Stores Inc
• TJX Cos Inc, The
• Wm Morrison Supermakets Plc

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