Report Description

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. PayNXT360 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. For instance,

  • 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. PayNXT360 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. For instance,

  • 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.

According to PayNXT360, 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.

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in China. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

  • Market dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in prepaid card and digital wallet industry in China.
  • Digital wallet segments: Provides value, volume and average value per transaction across 5 key spend categories in digital wallet. This includes retail, travel, entertainment and gaming, restaurant, and recharge and bill payment.
  • Open loop and closed loop prepaid cards: market estimates and forecasts to assess opportunities 13 open loop and closed loop prepaid market segments. Details four essential KPIs – number of cards in circulation, number of transactions, load value, and value of transactions.
  • Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key prepaid KPIs, including spend by age, gender, and income level.
  • Retail spend: Breaks down retail spend across 11 categories to provide detailed insights on consumer behaviour and changing dynamics of prepaid card spend.





Scope

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in China. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

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


Gift Card Market Size and Forecast by Consumer Segments

  • 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
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments

  • 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
Payroll Prepaid Card Market Size and Forecast by Consumer Segments

  • 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
Meal Prepaid Card Market Size and Forecast by Consumer Segments

  • 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
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments

  • 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



Reasons To Buy

  • In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument in China.
  • Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.
  • Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards and digital wallets.