In 2024, pre-paid cards in Germany continued to experience a significant shift towards digital integration, with this financial card type increasingly being offered as a virtual option, accessible through mobile payment applications. This trend reflects a broader movement towards digital payments and contactless transactions, resulting in a further decline in the number of pre-paid cards in circulation. These virtual cards are designed for seamless use within mobile wallets such as Apple Pay and

Despite recording a positive performance in 2024, pre-paid cards in South Africa has been experiencing significant challenges. South African Post Office (SAPO) continued to struggle to meet the South African Social Security Agency (SASSA) expectations as delayed payments and ongoing issues within its payment system persisted in 2024. The situation was exacerbated by challenging financial conditions, resulting in the closure of numerous branches typically used by grant beneficiaries for collectio

Although pre-paid cards is expected to see static current value transactions in 2024, it is expected to see a decline in the number of cards in circulation, and a decline in volume transactions, as consumers increasingly prefer debit card offerings, and their greater flexibility in transactions. The category also faces intensified competition from digital wallets, which have been benefiting from improved internet penetration, with such options gaining traction for online transactions, as consume

Cryptocurrency continues to be linked closely to both open loop as well as closed loop pre-paid cards in the US. On the purchasing side, cryptocurrency is linked to purchasing of both open and closed loop gift cards. Various sites and functions exist which allow consumers who hold cryptocurrency to exchange their currency for gift cards which can be used at restaurants, retailers, and other locations. This is a useful function for cardholders, because most merchants in the US do not natively acc

Pre-paid cards in Denmark posted a strong performance in 2024, with a record number of cards driving transaction volumes and values to new highs. This trend aligns with broader developments in the Danish payments landscape, which is characterised by a high level of digitalisation and one of the lowest cash usage rates globally. Pre-paid cards are used for a variety of purposes, supporting their continued expansion. However, despite this growth, the potential for further expansion is somewhat con

The open loop category was the most dynamic performer within pre-paid cards in the Czech Republic in terms of growth in circulation numbers and current value transactions in 2024, and also saw volume transactions rise at a healthy pace. It remained a key beneficiary of the increasing willingness of local consumers and businesses to choose card-based and digital payment solutions over cash, as these instruments are easily accessible and becoming ever more versatile. In particular, expansion was s

The number of pre-paid cards continues to rise rapidly in Nigeria. More households are embracing these forms of payments which can enhance control over spending and help consumers avoid additional bank fees. Open loop pre-paid cards have benefitted from expansion in digital offerings which facilitate secure online payments. Such cards are attractive to the growing number of tech-savvy shoppers in Nigeria. The momentum gained by pre-paid cards can be linked to road infrastructure developments and

Pre-paid cards maintained a positive performance in Greece in 2024. Open-loop pre-paid cards remained fairly stable in terms of number of cards and saw volume and value of transactions increase in the year, following a similar trend with other card types in a context of stability and slow growth of the economy.

Open-loop pre-paid cards have benefitted from the continued expansion of retail e-commerce in Turkey, which witnessed strong growth over the review period. Such cards are perceived to be a safe and secure means of shopping online as they are not linked to a bank account and have no overdraft facility, which minimises the risk of potential online fraud. Furthermore, there are a range of online marketplaces where consumers can obtain open-loop pre-paid cards. A prime example of this is Paycell, wh

Pre-paid cards have a wide variety of uses in Sweden. The category consists of open and closed loop cards with vastly different types of usage within them. Despite such diversity, open-loop cards were the star performer in 2024, whilst closed loop pre-paid cards have been steadily losing ground over the review period. Pre-paid cards were heavily impacted by the pandemic with usage plummeting in 2020.

With pre-paid cards, open loop cards remained unavailable in Ukraine in 2024, having disappeared from the local market in 2023 following years of minimal demand. The decline stems from their limited advantages compared to debit cards, which offer comprehensive features such as direct access to bank accounts, enhanced security and broad acceptance both domestically and internationally. Further, consumers increasingly prefer debit cards due to their versatility and seamless integration with digita

Pre-paid cards in Israel saw growth curbed by reduced interest in travel among local consumers in 2024. Pre-paid cards have long been a popular choice for individuals travelling abroad due to their safety and convenience. However, the ongoing Israel-Hamas war, coupled with the reduced availability of airline tickets and resulting high prices, has significantly dampened international travel. This decline in travel has consequently hindered the growth of the pre-paid card market, as fewer people r

While pre-paid cards in Colombia saw transactions grow at robust rates in volume and current value terms in 2024, total circulation numbers remained static. The latter result was mainly attributable to the diminishing appeal of open loop pre-paid cards, which are increasingly being superseded by debit and credit cards, digital wallets and electronic transfers. This is particularly true of so-called compensation fund cards, which have historically been used by employers to disburse various benefi

Pre-paid cards saw positive growth in Hungary in 2024, with major news in the category being the acquisition of Hellopay, a payment ecosystem, by OTP Mobil Kft, a subsidiary of OTP Bank that operates the Simple smartphone application and SimplePay payment solution. Hellopay has established itself as one of Hungary's leading providers of integrated and innovative digital payment solutions in the hospitality and events sector. With a reported 5 million users so far and 1000+ partners, Hellopay’s o

Pre-paid cards maintained healthy growth in Peru 2024, in transactions, values, and numbers of cards in circulation. A. positive performance is being seen in both open loop and closed loop pre-paid cards, as each of these types of cards has seen significant development in the last two years.

Pre-paid cards experienced strong growth in 2024 as reflected by the surge in the volume of cards in circulation, the volume of transactions and overall expenditure. The strong performance is primarily attributed to the remarkable growth observed in open-loop cards, creating opportunities for operators such as Revolut, which continues to see double-digit growth in the number of transactions. Romania is the leading market in central and eastern Europe for Revolut and the company invests heavily i

The open loop category has continued to dominate pre-paid cards in Italy in 2024, and is poised to register healthy growth in circulation numbers and volume and current value transactions for the entire year. It remains a key beneficiary of the shift away from cash in favour of card-based payments, as these instruments are easy to obtain, highly versatile and enjoy strong public trust in terms of security, both for in-person and online purchases.

Pre-paid cards in Portugal saw both open loop and closed loop cards grow in 2024, benefitting from a positive economic environment. Inflation rates decreased in a trend set to persist into the early forecast period at least, meaning less pressure on prices and greater growth in terms of available income.

Pre-paid cards continue to fill a niche in the Norwegian payment landscape in 2024. Pre-paid cards can act as a more contemporary or digitalized substitute for cash, which is popular among the unbanked population who have no access to mainstream cards, notably debit cards. Given the high banked population in Norway, pre-paid cards do not play exactly the same role as other countries with less advanced digitalized payment scenes – instead, pre-paid cards in Norway are often connected to special f

Pre-paid cards in Poland was boosted by Revolut in 2024, with the player having systematically expanded its number of customers in the country. Revolut describes Poland as among its largest markets globally, with potential for further growth. In 2024, the fintech implemented the first advertising campaign Bank ludzi Revolutnych (Revolut people’s bank) made especially for the Polish market. The campaign aims to reach new groups of recipients. Revolut focuses on diversification of its services - s

Pre-paid cards retained robust growth in Egypt in 2024, supported by a concerted government focus on financial inclusion and extensive banking initiatives tailored to citizens of all age groups. Notably, Visa, alongside the Ministry of Communications and Information Technology (MCIT), the Ministry of Supply and Internal Trade, and the Universal Health Insurance Authority, have launched the project of a single government services pre-paid card in Port Said city. This project aims to give citizens

Pre-paid cards in Canada saw growth spurred by rising demand for financial inclusion and access to banking in 2024. These cards, whether, open or closed, are an easy way for consumers to make transactions and payments. With the continued trend of consumers moving away from cash and cheques, pre-paid options arise as viable, simple and cheap solutions for those who do not have credit cards. In addition, they are an opportunity for those who are unbanked or underbanked, allowing them to participat

A major factor impacting pre-paid cards in the Netherlands in 2024 came from the new OV Pay system in public transport.

Pre-paid cards in Indonesia turned in another positive year in 2024, with rises in transactions in both volume and value terms, though growth slowed down. Open loop cards benefitted from the year’s record number of homecoming travellers, with holidays and increased toll tariff prices also helping – particularly those along the Trans Java toll road.