Africa and Middle East Prepaid Cards and Digital Wallets Market Report 2022: Governments Persuade Consumers to Use Cashless Payment Methods Such as Digital and Mobile Wallets – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Africa & Middle East Card Prepaid and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend” has been added to from ResearchAndMarkets.com offer.

The prepaid card market (by value) in Africa and the Middle East grew at a CAGR of 10.8% during the period 2017-2021. During the forecast period from 2022 to 2026, the market is expected to register a CAGR of 13.7%, growing from US$56.52 billion in 2022 to US$94.61 billion by 2026.

The demand for prepaid cards has grown significantly as an alternative to cash over the past four to six quarters in the Africa and Middle East region. The growth in the adoption of prepaid card payment methods in this region is mainly due to the rise of technology-driven products and services. Additionally, governments are persuading 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 increasingly being adopted by consumers who do not have a good credit rating or an existing bank account in the area. 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 remittance, payroll processing, donations, payment of government benefits and many others.

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

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

• In June 2021, South African wired 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 Ukheshe Technologies, a leading fintech partner, to launch this virtual prepaid card.

• The virtual prepaid card will be linked to the wallet and users will be able to transact online through this card.

Banks are partnering with digital payments providers to launch virtual ‘buy now, pay later’ prepaid cards in the UAE

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

• In September 2021, Abu Dhabi Islamic Bank (ADIB), an Islamic financial institution, partnered with Spotii, a digital payments provider, to launch a virtual BNPL prepaid card for the first time in the United Arab Emirates.

• Using the virtual prepaid card, customers will make in-store and online purchases from merchants and spread the cost of their purchases over several interest-free installments.

• All users can access the virtual prepaid card through the Spotii Mobile app and load money to fund installment payments free of charge.

Ride-sharing companies partner with fintechs to introduce mobile app-based payments in Turkey

As the country embraces cashless initiatives, tech companies are teaming up with taxi companies and banking providers to explore a convenient payment method where taxi drivers won’t need a point-of-sale terminal. sale (POS) separate or any other additional material to receive payments.

• In August 2021, Turkish taxi company Taxi 724 piloted a point-of-sale (sPOS) software solution provided by Payneer Technology. The technology will allow NFC-enabled Android devices to make contactless payments through an app.

• The company has also partnered with Yapi Kredi Bank to facilitate consumers.

• The application will be accompanied by a prepaid card, where the money collected can be transferred and used to withdraw cash from ATMs or make card payments.

Amazon collaborated with local artists to launch themed gift cards in Saudi Arabia

Online platforms collaborate 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 of artwork for Amazon in celebration of Eid Al-Fitr. These Eid-themed e-gift cards are available on Amazon.ae.

• The special edition Eid themed e-gift cards are also available in different denominations. Additionally, the Amazon.ae Gift Card can be redeemed by the user when entering the code at checkout or can even be added to their Amazon.ae account.

Scope

Digital Wallet Market Size and Forecast

• Transaction value trend analysis

• Trading volume trend analysis

• Average value per transaction

Digital Wallet Market Size and Forecast by Key Segments

• Retail purchases (value, volume, average value)

• Trip (value, volume, average value)

• Entertainment and games (value, volume, average value)

• Restaurant (value, volume, average value)

• Recharge and bill payment (value, volume, average value)

Market attractiveness of the prepaid card industry

• Load value trend analysis

• Transaction value trend analysis

• Trading volume trend analysis

• Average value per transaction

• Number of cards

Market Share Analysis by Functional Attributes – Open Loop vs Closed Loop, 2016 – 2025

Analysis of market shares by categories of prepaid cards

Future growth dynamics of open-loop prepaid cards, 2016 – 2025

• Transaction value trend analysis

• Trading volume trend analysis

• Average value per transaction

• Number of cards

Future growth dynamics of closed-loop prepaid cards, 2016 – 2025

• Transaction value trend analysis

• Trading volume trend analysis

• Average value per transaction

• Number of cards

General Purpose Prepaid Cards 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 Cards Market Size and Forecast

Teen and Campus Prepaid Cards Market Size and Forecast

Teen and Campus Prepaid Cards Market Size and Forecast by Functional Attribute

• By Open Loop Teen and Campus prepaid card

• By Closed Loop Teen and Campus prepaid card

Trade and Administrative Expense Prepaid Cards Market Size and Forecast

• By Small Scale Business Segment

• By intermediate business segment

• By business sector

• By government segment

Payroll Prepaid Cards Market Size and Forecast

• By Small Scale Business Segment

• By intermediate business segment

• By business sector

• By government segment

Prepaid Meal Cards Market Size and Forecast

• By Small Scale Business Segment

• By intermediate business segment

• By business sector

• By government segment

Travel Forex Prepaid Cards Market Size and Forecast

• By retail

• By Small Scale Business Segment

• By intermediate business segment

• By business sector

• By government segment

Transit and Toll Prepaid Cards Market Size and Forecast

Health and Wellness Prepaid Cards Market Size and Forecast

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

Fuel Prepaid Card Market Size and Forecast

Utilities and Other Prepaid Cards Market Size and Forecast

Companies cited

• Aldi Group

• XXXLutz Group

• Schwarz Beteiligungs GmbH

• Steinhoff International Holdings AG

• M-Preis Warenvertriebs GmbH (Molk)

• Amazon.com Inc.

• Etn Franz Colruyt SA

• Delhaize Group SA

• Inter Ikea Systems B.V.

• 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 S.A.

• E Leclerc

• ITM Enterprises SA

• Auchan Group SA

• System U Central National 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

• Sklavenite J&S SA

• Marinopoulos SA

• Diamantis Masoutis SA

• Inditex, Industria de Diseno Textil SA

• Hondos Bros.

• Scarf Coop Italia

• CONAD – Consorzio Nazionale Dettaglianti Scrl

• Esselunga Spa

• Selex Gruppo Commerciale SpA

• Eurospin Group

• Crai Secom SpA

• Apple Inc.

• Royal Ahold SA

• Jumbo Supermarkten B.V.

• Sperwer Holding B.V.

• Intergamma B.V.

• Hema B.V.

• Detailed result Groep NV

• Jeronimo Martins SGPS SA

• Tesco Plc

• Eurocash SA

• Metro SA

• Euro-net Sp zoo

• Magnit OAO

• X5 Retail Group SA

• Dixy Group OAO

• Slow OOO

• M Video OAO

• DNS Group

• El Corte Inglés SA

• Eroski Group

• 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 Supermarkets Plc

For more information on this report visit https://www.researchandmarkets.com/r/l79gt4

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