Value of transactions made over prepaid cards to exceed $4.1T over 5 years

The research anticipates a substantial growth of 75%

prepaid

Value of transactions made over prepaid cards to exceed $4.1 trillion over 5 years. Source: pexels.com

According to Juniper Research, the value of transactions made over prepaid cards will exceed $4.1 trillion globally in 2026, up from $2.3 trillion in 2021.

In fact, prepaid card transaction value will be just over 50% higher than that forecast for contactless payment transactions by 2026, illustrating the importance of this market.

Interestingly, the growth in prepaid cards will be driven by the ongoing replacement of cash, as economies move increasingly towards digital payments.

The research identified prepaid cards as being critical to ensuring that the unbanked are included in the rush for digital payments.

Besides, the growth of the prepaid market will present a significant revenue opportunity for prepaid card platforms, with fee revenue reaching over $32 billion globally in 2026, from $22 billion in 2021.

Tools such as restricted authorisation and digital issuance will enable prepaid cards to benefit from the evolution of traditional gift cards into full-blown prepaid cards, driving significant revenue
Nick Maynard, research author 

We’ve reported that US-based fintech announced the launch of digital wallet.

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