China Prepaid Cards and Digital Wallets Markets and Investment Opportunities Report 2022: Tech Vendors Launch Crypto-Linked Prepaid Cards to Expand Market in China

DUBLIN, March 10, 2022 /PRNewswire/ — The “China Prepaid Cards and Digital Wallets Business and Investment Opportunity Data Book – Market Size and Forecast, Consumer Attitude and Behavior, Retail Spending” report has been added to from ResearchAndMarkets.com offer.

The prepaid card market (in value) in China increased at a CAGR of 9.7% over the period 2017-2021. During the forecast period of 2022 to 2026, the market is expected to register a CAGR of 9.4%, growing from US$282.11 billion in 2022 to reach US$404.63 billion by 2026.

With the increase in demand for contactless payments in China, the demand for prepaid cards is also increasing. The country has seen various prepaid card product launches over the past eight quarters, such as crypto prepaid cards, contactless travel cards, and more. Moreover, the Chinese government is also taking initiatives to inject gift cards into the economy to boost the use of digital yuan. The publisher expects the country’s prepaid card market to continue growing over the next four to six quarters.

central bank of China introduction of yuan digital wallet application

China will continue the scanning process through the exit of the wallet application.

  • In January 2022People’s Bank of China (PBOC) launched a yuan digital wallet app on various app stores.
  • The app will help the bank conduct trials of digital wallets, exchanges and circulation services through digital currency.
  • Additionally, the app was developed by the PBOC’s Digital Currency Institute, which also developed the nation’s digital currency.

Global tech providers are launching crypto-related prepaid cards to expand their market in China

In China, the demand for crypto prepaid cards has increased several times over the past four quarters. With the growing attractiveness of the market, global technology providers are launching crypto-based prepaid card solutions to entice consumers into China. For example,

  • In December 2021Mastercard, has partnered with hong kongAmber Group, a London-based crypto-finance company, will launch cryptocurrency-linked prepaid cards for individuals and businesses.
  • The partnership will help users convert Bitcoin and other digital currencies into fiat currency.
  • Additionally, cardholders can use these prepaid cards to transact on online platforms as well as at physical outlets with merchants wherever Mastercard payments are accepted.

Cryptocurrency is skyrocketing in the Asia Pacific region, as they offer people more choice and flexibility in making their payments. The publisher expects this collaboration to prove fruitful in 2022 and beyond.

Smart card operators launch contactless transport cards in the Chinese market

With the changing digital payments landscape in China, the demand for prepaid transport cards is also increasing. Therefore, various transit card vendors are launching contactless transit cards to expand their market share.

  • In April 2021, hong kongNew York-based smart card operator Octopus has introduced transit cards that can be used on public transport in approximately 300 cities around the world. China.
  • The company has estimated that these public transport cards can be used to make payments on buses, trains and ferries on the mainland. China by the end of this year or early 2022.
  • Initially, this Octopus card can be loaded with a maximum value of HK$3,000 ($386).

The company plans to develop a card payment system piloted by the Ministry of Transport. Additionally, the company plans to launch a technology platform interconnected with digital payment companies, which will benefit e-wallet users.

Scope

Companies cited

  • Alibaba Group Holding Ltd
  • JD.com Inc.
  • Auchan Group SA
  • Wal-Mart Stores Inc.
  • Bailian Group Co Ltd
  • Yonghui Supermarket Group
  • Apple Inc.

China Digital Wallet Market Size and Forecast

  • Transaction value trend analysis
  • Trading volume trend analysis
  • Average value per transaction

China 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 Payment of bills (Value, Volume, Average Value)

Market attractiveness of prepaid card industry in China

  • 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 in China, 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 in China, 2016-2025

  • Transaction value trend analysis
  • Trading volume trend analysis
  • Average value per transaction
  • Number of cards

Usage trends of prepaid cards in China

  • By age group
  • By income group
  • By gender

China General Purpose Prepaid Card Market Size and Forecast

China 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

China Entertainment and Gaming Prepaid Cards Market Size and Forecast

China Teen and Campus Prepaid Card 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

China T&A Prepaid Card Market Size and Forecast

  • By Small Scale Business Segment
  • By intermediate business segment
  • By business sector
  • By government segment

China Payroll Prepaid Card Market Size and Forecast

  • By Small Scale Business Segment
  • By intermediate business segment
  • By business sector
  • By government segment

China Prepaid Meal Card Market Size and Forecast

  • By Small Scale Business Segment
  • By intermediate business segment
  • By business sector
  • By government segment

China Forex Travel Prepaid Card Market Size and Forecast

  • By retail
  • By Small Scale Business Segment
  • By intermediate business segment
  • By business sector
  • By government segment

China Prepaid Transit and Toll Card Market Size and Forecast

China Prepaid Health and Wellness Card Market Size and Forecast

China Social Security and Other Government Benefit Program Prepaid Cards Market Size and Forecast

China Prepaid Fuel Card Market Size and Forecast

China Utilities and Other Prepaid Cards Market Size and Forecast

For more information on this report, visit https://www.researchandmarkets.com/r/2ph1xc

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