Germany Prepaid Card and Digital Wallet Market Report 2022: Prepaid Card Companies are Launching Products Targeting the Young Generation
Dublin, Aug. 03, 2022 (GLOBE NEWSWIRE) — The “Germany Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend” report has been added to ResearchAndMarkets.com’s offering.
The prepaid card market (value terms) in Germany increased at a CAGR of 9.9% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 11.4%, increasing from US$29.78 billion in 2022 to reach US$45.94 billion by 2026.
Strategic partnerships are rising in the German prepaid card market. As demand for digital payment instruments increased amid the pandemic, fintech companies invested in digital wallets. Moreover, prepaid card providers expanded their product portfolio with new product launches targeting teenagers, corporates and festivals, to capture a larger market share in Germany.
Moreover, with the country’s growing popularity of digital wallets, BNPL giant Klarna acquired Germany-based digital wallet provider, Stocard for around €110 million in July 2021. Since the digital wallet was intended to launch its BNPL product like Klarna, the BNPL giant acquired the digital wallet to expand its market share in Germany.
Prepaid card companies are launching products targeting the young generation
In October 2021, Berlin-based startup, Bling Card, has partnered with France-based e-money and payment provider, Treezor to launch a secured prepaid pocket money card and a financial education app for children and teens in Germany. Bling will be leveraging Treezor’s Banking-as-a-Service (BaaS) for technical and regulatory payment functions. This prepaid card can be used by children and teenagers to pay independently, including online transactions within the country.
According to the company, it will be relying on certified educators and experts for the educational content of the app. Most importantly, the parents can manage the card via the app with money transfers, setting limits of the card and also rewarding their child on completion of their tasks. Since Treezor is a Principal Member of Mastercard, users can use the card wherever Mastercard is accepted.
Accor launched gift cards aiming travelers in Germany
With the onset of the pandemic, consumers’ preferences shifted towards experiences instead of material gifts. So, various partnerships are building up to provide innovative gift card solutions of hotel experiences to generate a revenue stream. For instance,
- In January 2021, hospitality technology provider Hoist Group partnered up with global hospitality group Accor to offer a unique Gift Card product for their guests in Germany.
- The Accor’s ALL Gift Cards can be bought by the customers to provide hotel experiences as gifts to be used by the recipient at a time and location of the recipient’s choice.
- Customers can offer ALL Gift Card to be redeemed for staycation breaks, enabling the recipient in the United Kingdom and Germany for their loved ones.
- Recipients can use ALL Gift Card from hotels and brands such as Fairmont, Sofitel, MGallery, Pullman, Mercure, Novotel, and ibis.
Public transport providers introducing prepaid cards in Germany
With the increasing necessity for contactless payments amid pandemic, the government is taking various initiatives to introduce contactless prepaid cards for reducing cash usage in the country.
- In October 2021, Germany’s public transport company, Berliner Verkehrsbetriebe (BVG), introduced a new method of payment in buses in the form of prepaid cards in Germany.
- The passengers will be able to avail all the bus rides by loading maximum credit of 150 euros on the card and can also be used on all commodities available in BVG customer centers.
- Initially, BVG prepaid cards will be available in the customer centers, which can be loaded there or in the online portal.
- This transit card is not specifically tied to any particular person, and the amount can be withdrawn if not in use.
Scope
Germany Digital Wallet Market Size and Forecast
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
Germany Digital Wallet Market Size and Forecast by Key Segments
- Retail Shopping (Value, Volume, Avg. Value)
- Travel (Value, Volume, Avg. Value)
- Entertainment and Gaming (Value, Volume, Avg. Value)
- Restaurant (Value, Volume, Avg. Value)
- Recharge and Bill Payment (Value, Volume, Avg. Value)
Germany Prepaid Card Industry Market Attractiveness
- Load Value Trend Analysis
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Market Share Analysis by Functional Attributes – Open Loop vs. Closed Loop, 2016 – 2025
Market Share Analysis by Prepaid Card Categories
Germany Open Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Germany Closed Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Germany Prepaid Card Consumer Usage Trends
- By Age Group
- By Income Group
- By Gender
Germany General Purpose Prepaid Card Market Size and Forecast
Germany 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
Germany Entertainment and Gaming Prepaid Card Market Size and Forecast
Germany Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
- By Open Loop Teen and Campus Prepaid Card
- By Closed Loop Teen and Campus Prepaid Card
Germany Business and Administrative Expense Prepaid Card Market Size and Forecast
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Germany Payroll Prepaid Card Market Size and Forecast
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Germany Meal Prepaid Card Market Size and Forecast
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Germany Travel Forex Prepaid Card Market Size and Forecast
- By Retail
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Germany Transit and Tolls Prepaid Card Market Size and Forecast
Germany Healthcare and Wellness Prepaid Card Market Size and Forecast
Germany Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
Germany Fuel Prepaid Cards Market Size and Forecast
Germany Utilities, and Other Prepaid Cards Market Size and Forecast
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