Mexico Prepaid Card Markets 2021 Report: Market Expected to Grow 23.2% to $ 22.67 Billion in 2021

DUBLIN, November 15, 2021 / PRNewswire / – The report “Mexico Prepaid Cards Business and Investment Opportunities – Market Size and Forecast (2016-2025), Consumer Attitude & Behavior, Retail Spend, Market Risk” has been added to ResearchAndMarkets.com offer.

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According to the Q2 2021 Global Prepaid Card Survey, the prepaid card market in the Mexico is expected to grow 23.2% on an annual basis to reach $ 22,672.4 million in 2021.

The prepaid cards market is expected to grow over the forecast period, registering a CAGR of 16.8% during 2021-2025. The prepaid card market in Mexico will increase by $ 18,397.8 million in 2020 to reach $ 34,261.9 million by 2025.

The use of prepaid cards has increased in recent quarters in Mexico, mainly due to the arrival of innovative and low-cost prepaid solutions launched by FinTechs and neobanks in the country.

The growth of the segment is also driven by social cards offered by the Mexican government, transit cards, payroll cards and gift cards. The publisher expects the prepaid card segment to show a robust growth rate over the next four to six quarters, as FinTech companies continue to innovate with their prepaid card launches.

Strategic partnerships are multiplying to launch innovative prepaid cards in Mexico:

Mexico had an estimated unbanked population of 40 million; However, the growth in FinTech adoption has led to a drastic change in the consumption patterns of the country’s consumers. As a result, FinTech companies are entering into strategic partnerships to launch innovative prepaid card solutions to drive financial inclusion in Mexico. For example,

In August 2021, i2c, which offers digital and banking technologies, has entered into a strategic partnership with the customer loyalty program PAYBACK and the loan company KEO to provide Mexican consumers with prepaid AMEX cards.

Regional companies are expanding their reach in the Mexican prepaid card market:

As the global pandemic has fueled demand for cashless payment options among consumers nationwide, ArgentinaFinTech, Uala, which has already issued more than 2.5 million prepaid cards in Argentina, launched its services in Mexico in September 2020. Since its launch, Uala has issued more than 100,000 prepaid cards in less than six months of its operations in Mexico. Consumers can use the Prepaid MasterCard for their online and in-store purchases.

Reasons to buy:

  • In-depth understanding of Prepaid Cards Market Dynamics: Understand market opportunities, industry dynamics, key trends and drivers of more than 75 Prepaid Cards market segments and sub-segments in Mexico.

  • Develop market-specific strategies: identify growth segments and target specific opportunities to formulate your prepaid card strategy; assess key trends, drivers and market specific risks in the prepaid card industry.

  • Get insights into consumer attitude and behavior: Understand changing consumer attitude and behavior and increase ROI. Get detailed information on retail spending with prepaid cards.

Scope:

Attractiveness of the prepaid card industry market in Mexico

  • Trend analysis of the load value

  • Analysis of transaction value trends

  • Trend analysis of transaction volume

  • Average value per transaction

  • Number of cards

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

Future Growth Dynamics of Open Loop Prepaid Cards in Mexico, 2016 – 2025

  • Analysis of transaction value trends

  • Trend analysis of transaction volume

  • Average value per transaction

  • Number of cards

Future Growth Dynamics of Closed Loop Prepaid Cards in Mexico, 2016 – 2025

  • Analysis of transaction value trends

  • Trend analysis of transaction volume

  • Average value per transaction

  • Number of cards

Trends in the use of prepaid cards in Mexico

  • By age group

  • By income group

  • By gender

Mexico General Purpose Prepaid Card Market Size and Forecast

Gift Card Market Size and Forecast by Functional Attribute

  • By open loop gift card

  • By closed loop gift card

Gift Card Market Size and Forecast by Consumer Segments

Gift Card Market Share Analysis by Retail Category

Gift Card Market Share Analysis by Gift Occasion

Gift Card Market Share Analysis by Place of Purchase

Mexico Entertainment and Gaming Prepaid Cards Market Size and Forecast

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

Commercial and Administrative Fee Prepaid Cards Market Size and Forecast by Consumer Segments

  • By small-scale business segment

  • By intermediate business segment

  • By business segment

  • By government segment

Prepaid Payroll Cards Market Size and Forecast by Consumer Segments

  • By small-scale business segment

  • By intermediate business segment

  • By business segment

  • By government segment

Prepaid Meal Cards Market Size and Forecast by Consumer Segments

  • By small-scale business segment

  • By intermediate business segment

  • By business segment

  • By government segment

Travel Forex Prepaid Cards Market Size and Forecast by Consumer Segments

  • By retail

  • By small-scale business segment

  • By intermediate business segment

  • By business segment

  • By government segment

Mexico Healthcare and Wellness Prepaid Card Market Size and Forecast

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

For more information on this report, visit https://www.researchandmarkets.com/r/e6kqgt

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