Emerging Opportunities in the Indian Prepaid Card Market: Market Size, Strategies, Products and Competitive Landscape

Published: May 2012
No. of Pages: 80
    ReportsandReports

  • The report provides detailed market analysis, information and insights into the Indian prepaid card market, including:
  • Current and forecast values for the Indian prepaid card market
  • Current and forecast values of the various categories in the Indian prepaid card market
  • Analysis of the key trends, drivers and challenges in the Indian prepaid card market
  • Summary of the current regulatory framework in the Indian prepaid card market
  • Detailed analysis of the marketing strategies adopted for selling prepaid cards by category
  • Competitive landscape of the Indian prepaid card market
  • SWOT Analysis of the Indian prepaid card market
  • Case studies of the top prepaid card companies in India
  • Profiles of the major companies in the Indian prepaid card market

Summary

Prepaid cards are gaining popularity at the expense of credit cards in India. This can be indicated by the fact that the number of outstanding credit cards in the country declined from 27.6 million in March 2008 to 18 million in March 2011. Banks are also being cautious in their promotion of credit cards as they fear a credit default. Instead Indian banks are focusing on promoting prepaid cards. A rising number of retail companies and brands in India are now offering prepaid cards as a strategy to retain customers and increase sales. Prepaid cards are increasingly being used by companies as a tool to retain customers and also ensure regular sales. The lack of consumer awareness about the types of prepaid cards that are available in the country is one of the main challenges preventing wider prepaid card usage in the country. Furthermore, prepaid cards have traditionally not been as aggressively marketed by banks as debit and credit cards. However, this trend is now changing, as the high growth recorded in the prepaid cards market is encouraging more companies and banks to provide prepaid card services. As such, Indian banks are now undertaking aggressive marketing and promotion activities to increase prepaid cards awareness in India. The Indian prepaid cards market is highly consolidated among three leading companies: Axis Bank, ICICI Bank and Itz Cash Card.

Scope

  • This report provides a comprehensive analysis of the prepaid card market in India.
  • It provides current values for the Indian prepaid card market for the report's review period 2007–2011 and forecast figures for the 2012–2016 forecast period
  • It provides current values for the various categories within the Indian prepaid card market for the review period and forecast period
  • The report covers an exhaustive summary on the key trends, drivers and challenges affecting the Indian prepaid card market
  • It outlines the current regulatory framework in the industry
  • The report lists the strengths, weaknesses, opportunities and threats (SWOT) of the Indian prepaid card market
  • It details the marketing strategies used by various companies
  • The report profiles the major banks and companies in the Indian prepaid card market

Key highlights

  • The Indian prepaid card market is expected to continue growing strongly over the forecast period (2012–2016). The volume of Indian prepaid cards is projected record a CAGR of 40.6% over the forecast period.
  • The Indian prepaid travel cards category increased in value at a CAGR of more than 50% during the review period. This growth is being driving by strong demand from corporations, which account for the majority of the total travel cards category value.
  • A rising number of retail companies and brands in India are now offering prepaid cards as a strategy to retain customers and increase sales.
  • Indians traditionally prefer conducting financial transactions through cash rather than payment cards. Almost 97% of the total retail transactions in India are cash-based. However, this is changing gradually as the younger population is more comfortable using payment cards.
  • The Indian prepaid cards market is highly consolidated among three leading companies: Axis Bank, ICICI Bank and Itz Cash Card.

Reasons to buy

  • Make strategic business decisions using historic and forecast market data related to the Indian prepaid card industry and each category within it
  • Understand the key market trends and growth opportunities within the Indian prepaid card market
  • Assess the competitive dynamics in the Indian prepaid card market
  • Gain insights into the marketing strategies used by banks and prepaid card companies
  • Gain insights into key regulations governing the Indian prepaid card market

Published By: BRICdata
Product Code: BRICdata137598


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