China Prepaid Card and Digital Wallet Market Report 2022-2026 Featuring Alibaba, JD.com, Auchan Group, Wal-Mart Stores, Bailian Group, Yonghui Superstores, & Apple

Dublin, March 11, 2022 (GLOBE NEWSWIRE) — The “China 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 China increased at a CAGR of 9.7% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 9.4%, increasing from US$282.11 billion in 2022 to reach US$404.63 billion by 2026.

With the rise in the demand for contactless payments in China, the demand for prepaid cards is also increasing. The country has witnessed different prepaid card product launches in the last eight quarters, such as crypto-based prepaid cards, contactless transit cards, etc. Moreover, the Chinese government is also taking initiatives to inject gift cards into the economy to boost the usage of digital yuan. The publisher expects that the country’s prepaid card market will grow further in the next four to six quarters.

Central Bank of China introduced digital yuan wallet app

China will continue the digitization process through the release of the wallet app.

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

Global technology providers are launching crypto linked prepaid cards to expand their market in China

In China, demand for crypto-based prepaid cards increased many folds in the last four quarters. With rising market attractiveness, global technology providers are launching crypto-based prepaid cards solutions to attract consumers in China. For instance,

• In December 2021, Mastercard, has partnered with Hong Kong-based crypto finance firm Amber Group to launch cryptocurrency-linked prepaid cards for both individuals and businesses.
• The partnership will help the users to convert Bitcoin and other digital currencies into fiat currency.
• Moreover, the cardholders can use these prepaid cards to make transactions in online platforms as well as physical retail outlets with merchants wherever Mastercard payments are accepted.

Cryptocurrency is soaring high in the Asia Pacific region as they provide people with greater choice and flexibility in making payments. The publisher expects this collaboration will turn out to be productive in 2022 and beyond.

Smart card operators launching contactless transit cards in the Chinese market

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

• In April 2021, Hong Kong-based smart card operator Octopus introduced transit cards that can be used in public transports in approximately 300 cities in China.
• The company opined that these transit cards can be used to make payments in buses, rails, and ferries in 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 (US$ 386).

The company has planned to develop a one-card payment system led by the Ministry of Transport. Moreover, the company plans to launch an interconnected technology platform with digital payment companies, which will benefit eWallet users.

Scope

Companies Mentioned

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

China Digital Wallet Market Size and Forecast

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction

China 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)

China 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
China Open Loop Prepaid Card Future Growth Dynamics, 2016 – 2025

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

China Closed Loop Prepaid Card Future Growth Dynamics, 2016 – 2025

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

China Prepaid Card Consumer Usage Trends

• 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 Card Market Size and Forecast

China 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

China 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

China Payroll Prepaid Card Market Size and Forecast

• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

China Meal Prepaid Card Market Size and Forecast

• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

China 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

China Transit and Tolls Prepaid Card Market Size and Forecast

China Healthcare and Wellness Prepaid Card Market Size and Forecast

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

China Fuel Prepaid Cards Market Size and Forecast

China Utilities, and Other Prepaid Cards Market Size and Forecast

For more information about this report visit http://www.researchandmarkets.com/r/l9f9d7

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