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Malaysia Prepaid Cards Market Report 2021: Market is Expected to Grow by 17.2% to Surpass $7 Billion in 2021 - Forecast to 2025

·5-min read

Dublin, Nov. 29, 2021 (GLOBE NEWSWIRE) -- The "Malaysia Prepaid Cards Business and Investment Opportunities - Market Size and Forecast (2016-2025), Consumer Attitude & Behaviour, Retail Spend, Market Risk" report has been added to ResearchAndMarkets.com's offering.

According to the Q2 2021 Global Prepaid Card Survey, prepaid card market in the Malaysia is expected to grow by 17.2% on annual basis to reach US$ 7,031.1 million in 2021.The prepaid card market expected to grow over the forecast period, recording a CAGR of 15.2% during 2021-2025. The prepaid card market in Malaysia will increase from US$ 5,999.2 million in 2020 to reach US$ 10,565.6 million by 2025.

The growing adoption of contactless payments technology by merchants is driving more and more consumers to shift towards prepaid payment instruments in Malaysia. Moreover, the rising smartphone penetration and the growth of the e-commerce industry are also the major reasons behind the rising adoption of prepaid cards by consumers in the country.

Malaysia has a large millennial population, and nearly 20% of the millennials in the country who use public transport make payments through mobile payments. Notably, around 60% of the millennials in the country are using cards to pay for groceries.

A favorable regulatory framework is encouraging prepaid card providers:

Over the past few years, both the Malaysian government and the Central Bank have clearly stated their intentions to make Malaysia a cashless society. Consequently, both the government as well as the Central Bank have taken numerous initiatives to support their objective of a cashless society. For instance,

The Central Bank regulated that card issuers must enable chip or contactless payments through prepaid cards at the point of sales transactions, to ensure that consumers can make safe and secure digital payments. Moreover, to boost prepaid card use in Malaysia, the Central Bank also restricted retailers from imposing a surcharge on card payments.

Prepaid card providers looking to obtain digital banking licenses to expand market share:

To further expand their market share in Malaysia, prepaid card providers are focusing on obtaining digital banking licenses in the country. For instance,

In June 2021, BigPay, a subsidiary of AirAsia, submitted its bid to the Central Bank of Malaysia. The prepaid card and e-wallet provider already has the experience of launching several regulated financial products in Malaysia. These include e-money, international remittance prepaid cards, and micro-insurance, among others. With the help of a digital banking license, the prepaid card provider, BigPay, is planning to launch new services, including responsible credit and micro-savings.

Scope:

Malaysia 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

Malaysia Open Loop Prepaid Card Future Growth Dynamics, 2016 - 2025

  • Transaction Value Trend Analysis

  • Transaction Volume Trend Analysis

  • Average Value per Transaction

  • Number of Cards

Malaysia Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025

  • Transaction Value Trend Analysis

  • Transaction Volume Trend Analysis

  • Average Value per Transaction

  • Number of Cards

Malaysia Prepaid Card Consumer Usage Trends

  • By Age Group

  • By Income Group

  • By Gender

Malaysia General Purpose Prepaid Card Market Size and Forecast

Malaysia 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

Malaysia Entertainment and Gaming Prepaid Card Market Size and Forecast

Malaysia 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

Malaysia 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

Malaysia 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

Malaysia 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

Malaysia 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

Malaysia Transit and Tolls Prepaid Card Market Size and Forecast

Malaysia Healthcare and Wellness Prepaid Card Market Size and Forecast

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

Malaysia Fuel Prepaid Cards Market Size and Forecast

Malaysia Utilities, and Other Prepaid Cards Market Size and Forecast

For more information about this report visit https://www.researchandmarkets.com/r/43nwdq

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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