Boston, MA -- (SBWIRE) -- 07/24/2012 -- The prepaid card market in the BRIC countries, which includes both open-loop and closed-loop prepaid cards, registered significant growth during the review period and is expected to continue developing rapidly over the forecast period. China was the largest prepaid cards market among the BRIC countries during the review period, followed by Russia, India and Brazil. The Chinese prepaid cards market valued over US$160 billion in 2011. However, Russia registered the strongest growth in prepaid card usage, as the prepaid card market registered a CAGR of 61.26% during the review period. India is expected to be the fastest-growing market for prepaid cards over the forecast period, with the market expected to increase in value at a CAGR of 39.68%.
- According to Associacao Brasileira das Empresas de Cartoes de Credito e Servicos (ABECS), the total number of credit cards in Brazil increased by 13% during 2011, to reach over 170 million at the end of the year, while the number of debit cards increased by 7% during 2011.
- Banks and financial institutions are the leading providers of prepaid cards in the Brazilian prepaid cards market. Some of the companies operating in the Brazil prepaid cards market include Banco do Brazil, Banco Cruzeiro do Sul SA, American Express and CBSS.
- The Indian prepaid cards market is highly consolidated among three leading companies: Axis Bank, ICICI Bank and Itz Cash Card. These three companies together accounted for a share of 73% of the market value in 2011. Axis Bank accounted for the largest market share of 36% of prepaid card revenues, followed by Itz Cash Card, with a market share of 20%, and ICICI Bank, with a market share of 17%.
- Chinese retailers and Chinese public transport corporations are the leading providers of prepaid cards. Many corporations in China also issue payroll cards and various other gift cards, which is becoming a very popular trend in China.
View Full Report Details and Table of Contents
- This report provides a comprehensive analysis of the prepaid card market in the BRIC countries
- It provides current values for the prepaid card market in the BRIC countries for the year 2011 and forecast figures for the years up to 2016
- It offers a detailed analysis of the key markets in the prepaid card market in the BRIC countries, along with market forecasts until 2016
- It details the different macroeconomic factors affecting the prepaid card market in the BRIC countries
- It covers an exhaustive summary on the key trends and drivers affecting the prepaid card market
- It outlines the current regulatory frameworks in the industry
- It details the marketing strategies used by various bankers and other institutions
- It profiles the major banks in the prepaid card market in the BRIC countries
Companies Mentioned in this Report: Banco do Brazil, Sberbank Rossii OAO, Absolut Bank, The Bank of Moscow, Alfa Banking Group, Axis Bank, ICICI Bank, Itz Cash Card Ltd, Ederenred, China Union Pay, Swipe Go
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