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Chinese Prepaid Card Market Ripe For Investment

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Chinese Prepaid Card Market Ripe For Investment
Though a global economic giant to reckon with, China's prepaid card industry has been sluggish compared to other developed nations. For a long time, the consumer intake of the cards has been low, but a recent market research data and forecasts show a shift for the better. With one of the biggest untapped purchasing power especially when it comes to the prepaid card industry, China is ripe for credit and debit card investments.

Research statistics in Prepaid card industry

According to recent market reports on the Chinese prepaid cards uptake, the industry has been growing steadily since 2011, a factor considered to extend up to 2020. Between 2011 and 2015, the market is estimated to have reported a year-over-year increment averaging 11.8 percent.

The number of active prepaid cards in circulation, as well as the amounts of prepaid card transactions increased, has also increased during this time. For instance, recent estimates indicate that in 2016 alone both local and international prepaid card transactions amounted to US$349,672 million. This figure is expected to reach half-billion US dollars by 2020, occasioned by a steady 9.3 percent annual growth in the prepaid card uptake in China.

Significance to investors in Prepaid card industry

In anticipation of investors reactions to this fact, the figures are expected to be even higher. With the prepaid card craze sweeping over the consumer industry, most institutions are projected to follow in their global market leaders influence and come up with own prepaid cards to be availed to their clientele.

This will also make moving cash either for purchases or overseas employees payments facilitation easier. Such growth is also favorable for Chinese expatriates seeking to send money back home. These have for long had to grapple with the often tedious and time-consuming banking system. The continued increase in the levels of trade between China and the rest of the world is also expected to impact the prepaid card market in the country significantly.

The fact most millennials in the country are continually looking for alternative saving plans as well as a leeway out of overspending might also contribute to increased card uptake. The banking and travel and consumer goods industries will be most affected by this card surge. They also form the first group most likely to introduce own card systems.

What does increased prepaid card intake in China mean to the world?

First, the card intake will revolutionize the rather traditional Chinese banking industry. The fact that the card system is harder to control compared to the localized banking system implies more interactions and possibly more trade between China and the outside world.
Moving forward, more card introduction into the market means more discounts and cheaper rates. It is, therefore, a high time for traders, travelers, and investors seeking to enjoy such benefits to start comparing the relativity of the different cards currently available to their given endeavors.

Prepaid card industry bottom line

The Chinese prepaid card market is opening up at a fast rate. This equates to the introduction of more cards into the market as well opening up of the Chinese financial market to more local as well as international players. The growth also signals the best time for the different prepaid card players, investors, and consumers, to join the scramble if they are to benefit from the introductory offers and discounts synonymous with almost every card launch.

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