Players are gradually coming up with innovative promotional strategies to raise the demand of prepaid cards in the country, says RNCOS.
Noida, UP -- (SBWIRE) -- 02/20/2015 -- The increasing inclination of the public towards the prepaid cards is encouraging more companies and banks to provide prepaid card services. Indian banks are now undertaking aggressive marketing and promotion activities to increase prepaid cards awareness in India. Banking and Non-banking players have embarked on lucrative promotional strategies to overcome the hurdle of very low consumer awareness.
According to research report by RNCOS, "Indian Prepaid Card Market Outlook 2018", promotional practices like banners hung outside the bank premises and innovative classifieds on bank portals are some of the most adopted campaigning strategies. Besides, bank authorities also spread awareness through word-of-mouth to the existing clients with specific needs. The non-banking players too are on their heels to increase market education, and hence, enhance prepaid card penetration. Thus, all the above are set to provide a boost to the prepaid card market in India in the coming years.
The report "Indian Prepaid Card Market Outlook 2018", provides an in-depth and rational analysis of the prepaid card market in India. It provides a detailed overview of the prepaid card market both in value and volume terms. The sections covering details of the value and volume market respectively provide a detailed market forecast of the market till 2018. Further, these sections also provide a brief outlook till 2018 for types of prepaid cards like payroll cards, remittance cards and travel cards. Besides, a section covering the preferred services of prepaid cards as used by consumers has also been included in the report to highlight the major application areas of prepaid cards in the country. The report also sheds light on the single purpose prepaid cards and major drivers which would drive the market in the future. Further, various roadblocks affecting the growth of the market have also been focused upon in the report. A brief competitive landscape covering the business overview and product portfolio of major players have also been provided in the report.
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