According to the latest report by IMARC Group,the India prepaid cards market size reached US$ 86.6 Billion in 2021.A prepaid card is a payment card with previously deposited funds that can be used as an alternative to cash payment. These cards do not require any bank account linked to them as they can be used by anyone, irrespective of their credit rating, income, or status, making card-based purchases easier without the inconvenience of dealing with a financial institution.

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India Prepaid Cards Market
Research Report and
Forecast 2022-2027
Author: Elena Anderson,
Marketing Manager |
IMARC Group
© 2019 IMARC All Rights Reserved

2. Report Description
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3. Report Description
Report Description and Highlights
India Prepaid Cards Market Outlook 2027:
As per the latest report by IMARC Group, titled “India Prepaid Cards Market: Industry Trends, Share,
Size, Growth, Opportunity and Forecast 2022-2027,” the India prepaid cards market size reached US$
86.6 Billion in 2021.
A prepaid card is a payment card with previously deposited funds that can be used as an alternative to
cash payment. These cards do not require any bank account linked to them as they can be used by
anyone, irrespective of their credit rating, income, or status, making card-based purchases easier
without the inconvenience of dealing with a financial institution.
They also offer other advantages, such as security, versatility, theft protection, and the ability to
perform online transactions and direct deposits. Owing to such benefits, prepaid cards have rapidly
gained traction in India.
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4. Report Description
Report Description and Highlights
India Prepaid Cards Market Trends:
The emerging e-commerce industry is one of the primary factors driving the market growth across the
country. At present, more people are paying through prepaid cards as they are a convenient mode of
payment and require very little time or cost to acquire.
In addition, the increasing penetration of smartphones and the internet has increased the number of
online payments using prepaid cards. Besides this, the market is also driven by demonetization and the
government’s encouragement toward a cashless economy.
Moreover, the increasing number of organized retailers is also creating a positive market outlook
across the country. Furthermore, prepaid cards are also being used in restaurants, stores, vending
machines, buses and other forms of public transport.

5. Market Summary:
Breakup by Card Type:
• Closed Loop Cards
• Open Loop Cards
Breakup by Purpose:
• Payroll/ Incentive Cards
• Travel Cards
• General Purpose Reloadable (GPR) Cards
• Remittance Cards
Breakup by Vertical:
• Corporate/Organization
• Retail
• Government
Report Description
Report Description and Highlights

6. Breakup by Region:
• West and Central India
• South India
• North India
• East India
On account of these factors, IMARC Group expects the market value to reach US$ 557.7 Billion by 2027,
expanding at a CAGR of 36.20% during the forecast period (2022-2027).
Report Description
Report Description and Highlights

7. Competitive Landscape With Key players:
• Axis Bank Ltd
• Itz Cash Card Ltd
• ICICI Bank Ltd
• State Bank of India (SBI)
• HDFC Bank Ltd
• Punjab National Bank (PNB)
• Yes Bank Ltd
• Sodexo
• Kotak Mahindra Bank Ltd
• Oxigen Services
• Hermes International S.A
• India Transact Services Ltd
• Western Union Company
View Report TOC, Figures and Tables: https://www.imarcgroup.com/india-prepaid-cards-market
Report Description
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8. A partial List of our Clients
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world's leading corporates, governments, and
institutions
Partial List of Clients

9. A partial List of our Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
Partial List of Clients

10. Report Description
Report Description and Highlights
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