As the pandemic continues to challenge the market, Argus will discuss their forecast for 2022 on Tuesday, December 14th at 2 pm Eastern Time.
Dublin, December 13, 2021/PRNewswire/-"Canada Prepaid Card Business and Investment Opportunities-Market Size and Forecast (2016-2025), Consumer Attitudes and Behaviors, Retail Expenditure, Market Risk" report has been added to ResearchAndMarkets. Provided by com.
According to the global prepaid card survey in the second quarter of 2021, the Canadian prepaid card market is expected to grow at an annual rate of 9.3% in 2021, reaching USD 24.36 billion.
The prepaid card market is expected to grow during the forecast period, with a compound annual growth rate of 7.8% from 2021 to 2025. The Canadian prepaid card market will grow from 22.299.2 billion U.S. dollars in 2020 to 30.150.4 billion U.S. dollars in 2025. Almost all Canadian citizens have banking relationships, helping the open-loop prepaid card market achieve significant growth. The two most prominent growth areas in the Canadian prepaid card industry are the gig economy (contractors earn wages through prepaid payment tools) and new banks (Gen Z and millennials are registering for app-based prepaid accounts). Although bank penetration is very high, most indigenous communities in the country do not have bank accounts. Therefore, these communities use prepaid cards to make up for the shortcomings of traditional banking services and support the growth of the Canadian prepaid card market. Stored-value cards are attractive to Canadian freelance employers:
Nearly 10% of adults work in Canada's gig economy. According to a recent survey, nearly 3.5% of small and medium-sized enterprises and 9.5% of large enterprises use prepaid cards to pay their gig economy workers in Canada. This is mainly because the company uses prepaid cards to pay cheaper and faster. Prepaid cards from various businesses, including Instant Financial, Payfare and Ceridian, enable gig workers and freelancers to get their salaries in advance.
Technology companies are increasingly issuing open-loop prepaid cards for SMEs:
In Canada, there has also been an increase in open-loop prepaid cards issued by non-bank institutions such as e-commerce platforms and accounting software providers for SMEs. For example, major technology brands such as Square, Shopify, and QuickBooks are issuing prepaid cards for SMEs in the country. Especially Shopify, its Shopify Balance prepaid card has great potential to disrupt the Canadian prepaid card market.
In-depth understanding of the prepaid card market dynamics: understand the market opportunities, industry dynamics, main trends and driving factors of more than 75 prepaid card segments and sub-segments in Canada.
Develop market-specific strategies: Identify growth areas and target specific opportunities to develop your prepaid card strategy; evaluate key trends, drivers and risks specific to the prepaid card industry market.
In-depth understanding of consumer attitudes and behaviors: Understand changing consumer attitudes and behaviors and improve return on investment. Learn more about retail spending with prepaid cards.
Market Attractiveness of Canada's Prepaid Card Industry
Market share analysis by functional attributes-open loop and closed loop, 2016-2025
Market share analysis by prepaid card category
The future growth trends of open-loop prepaid cards in Canada, 2016-2025
Future growth trends of closed-loop prepaid cards in Canada, 2016-2025
Consumers' Use Trends of Prepaid Cards in Canada
General Prepaid Card Market Size and Forecast in Canada
Canadian gift card market size and forecast
Gift card market size and forecast by functional attributes
The size and forecast of the gift card market by consumers
Analysis of gift card market share by retail category
Analysis of Gift Card Market Share by Gift Occasion
Analysis of gift card market share by purchase location
Canadian entertainment and gaming prepaid card market size and forecast
Canadian youth and campus prepaid card market size and forecast
Forecast of the Market Scale and Functional Attributes of Prepaid Cards for Teenagers and Campuses
Canadian business and administrative expense prepaid card market size and forecast
Commercial and administrative expense prepaid card market size and consumer segmentation forecast
Canadian salary prepaid card market size and forecast
Salary prepaid card market size and forecast by consumers
Canadian Meal Prepaid Card Market Scale and Forecast
Prepaid Meal Card Market Scale and Consumer Group Forecast
Canadian Tourism Foreign Exchange Prepaid Card Market Scale and Forecast
The scale and forecast of the travel foreign exchange prepaid card market segmented by consumers
Canadian Transportation and Toll Prepaid Card Market Size and Forecast
Canadian healthcare prepaid card market size and forecast
Prepaid Card Market Size and Forecast for Canadian Social Security and Other Government Welfare Programs
Canadian fuel prepaid card market size and forecast
Canada's Utilities and Other Prepaid Card Market Size and Forecast
For more information about this report, please visit https://www.researchandmarkets.com/r/57399c
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