[Latest] Global Prepaid Gift Card Market Size/Share Worth USD 5.41 Billion by 2034 at a 7.1% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT Analysis)

Austin, TX, USA, June 09, 2025 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Prepaid Gift Card Market Size, Trends and Insights By Offering Type (General Purpose Reloadable Card, Gift Cards, Incentive/Payroll Card, Others), By Card Type (Closed Loop Prepaid Card, Open Loop Prepaid Card), By End User Industry (Retail, Healthcare, Travel and Hospitality, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034“ in its research database.

“According to the latest research study, the demand of global Prepaid Gift Card Market size & share was valued at approximately USD 2.7 Billion in 2024 and is expected to reach USD 2.91 Billion in 2025 and is expected to reach a value of around USD 5.41 Billion by 2034, at a compound annual growth rate (CAGR) of about 7.1% during the forecast period 2025 to 2034.”

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Prepaid Gift Card Market Overview

As per the industry experts at CMI, The prepaid gift card sector is experiencing unprecedented growth as a result of increasing demand for customizable, cashless payments in the retail, corporate, and digital ecosystems. The leaders in innovation – Visa, Mastercard, American Express, and PayPal – have effectively spurred this growth primarily through mobile wallet integrations, instant card issuance, and enhanced fraud prevention through the use of artificial intelligence (AI).

Government support of these programs is increasing as they promote more robust disbursement programs that facilitate financial inclusion, and consumer protection regulations are being put in place to support them. Prepaid cards change the way people give, spend, and invest cash for digitally savvy shoppers in North America and mobile-first experiences in the Asia Pacific. Traditional concepts on how people shop and pay are changing due to the convergence of financial technology (fintech), e-commerce, and personalized user experiences.

Combined with enhanced scalability, strategic partnerships, and local adaptations within emerging markets, prepaid cards are becoming a leading payment option. As new entrants and continued competition will quickly escalate, players must gain momentum through investment in omnichannel and next-generation loyalty strategies to ensure they develop long-term engagement paths with their consumers.

Prepaid Gift Card Market Growth Factors and Dynamics

• E-commerce Growth: The explosive growth of e-commerce has propelled the prepaid card segment into the stratosphere. As the number of consumers shopping online skyrockets, the demand for flexible, secure, and simple payment methods also rises. Prepaid cards are a perfect solution for consumers who prefer not to own a credit card or whose concern with sharing their bank details online is a hurdle to making a purchase. Prepaid cards offer consumers more control over their spending and mitigate the chances of fraud, which is an attractive offer for security-conscious consumers. E-gift cards are being increasingly used for purchases made across all online retail verticals. Prepaid cards are now widely used among retailers as part of the sales pitch, especially when promoted as cashback or combined with incentives or bundled offers, thereby generating demand and incidental sales.

• Corporate Adoption Growth: Companies are now adopting prepaid cards as their financial disbursements, whether it be for employee rewards, expense reimbursements, company launch celebrations, or customer loyalty programs. When a corporation offers a prepaid card to their staff, they avoid the intimate process of sending cheques and the administrative headache associated with the paperwork. Prepaid cards can be branded with company logos, and functionality can be customized to ensure spending activities are limited to certain defined categories, therefore offering organization more oversight of employee spending. Due to the compatibility with HR through seamless employment journeys, organizations can oversee and track expense activities occurring in real time, effectively administer budgets, and enhance employee satisfaction by offering timely and user-friendly reward options. As remote work is increasingly embraced alongside digital HR systems, more companies are gravitating toward prepaid cards because of the flexibility they offer and ability to issue rewards or incentives quickly, especially in situations where teams are geographically distributed.

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• Increase in demand for prepaid cards for remittance: The global remittance market is growing, especially in developing countries, and prepaid cards are becoming a more viable option for sending funds. Sending money through traditional bank transfers can be slow and expensive; with prepaid cards, money can move much faster and at a low cost, guaranteed and more securely across borders, and the funds may be accessible and usable immediately by the recipient without a bank account, which promotes financial inclusion. The prepaid card is an excellent option for migrant workers sending earnings back to family, as the card service provider can reload prepaid cards remotely for the given amount on demand, and the card can be used for essentials/daily spending. As regulations improve, as well as the reduction of barriers to integrating prepaid cards into a regulated financial system, prepaid cards can become an increasingly preferred method to receive remittances, especially for unbanked populations of Asia, Latin America and Africa.

• Increased adoption of contactless payments: The COVID-19 pandemic has helped hasten the adoption of contactless payment methods, and prepaid cards exemplify the world’s shift toward contactless payments. As consumers and businesses shifted toward safer, touch-free payment methods, prepaid cards with contactless capabilities quickly became more in demand than they were census years prior. Prepaid cards were being designed with contactless features, and many are now using some form of NFC technology (Near Field Communication) and other forms of mobile wallets/tap-to-pay methods. Prepaid cards were particularly well suited for fast-moving sectors such as public transport, quick-service restaurants, and the retail sector since the transaction method is fast and hygienic. The use of prepaid cards even inherently aligns with the payment process, as prepaid transactions would require little to no interaction while reducing exposure through manual inputting of a personal identification number (PIN) or cash. As long as cash is being eliminated for digital payments, the prepaid card is positioned for immense growth as a contactless transaction method, which will have implications for the economy and payment processing more broadly, especially age distribution, for all consumers.

Report Scope