Germany Prepaid Card and Digital Wallet Business and Investment Opportunities Databook - Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend - Q1 2024 Update

According to the publisher, the prepaid card market (value terms) in Germany increased at a CAGR of 9.1% during 2019-2023. Over the forecast period of 2024 to 2028, the market is expected to record a CAGR of 10.9%, increasing from US$29.78 billion in 2023 to reach US$50.57 billion by 2028.

The prepaid card industry is poised to grow at a steady rate over the medium term in Germany. The usage of prepaid payment instruments, including prepaid and debit cards, has been increasing consistently over the last few years. This trend is projected to continue further over the medium term, thereby offering support for the industry growth over the next three to four years.

The growing preference for digital payment solutions, like debit cards, has resulted in declining cash transactions in Germany. New players are entering the market to tap into the rising adoption of digital payment methods. This is aiding the competitive landscape in the German prepaid card sector. Overall, the publisher maintains a positive growth outlook for the prepaid card industry in Germany over the next three to four years.

Prepaid payment cards are overtaking cash transactions in the German market, which has been largely cash-dominant in the past

In Germany, the way people make payments has significantly changed due to the impact of the pandemic. Traditionally, Germans have preferred using cash for their everyday transactions, but recent data indicates a shift in this trend. According to Statista, the percentage of transactions made with cash at point-of-sale declined from 55% in 2,017 to 39% in 2022. This change is attributed to the increased preference for contactless payment methods, driven by concerns about the COVID-19 infection.

Debit card transactions, on the other hand, experienced a notable increase, rising from 25% to 39% during the same period. Digital wallet transactions also experienced a slight uptick, moving from 5% in 2,017 to 9% in 2022. Additionally, the use of prepaid cards rose from 2% to 3%. Across Europe, there is a broader trend of digital and card payments gaining popularity, while cash payments remain prevalent in Germany and Austria, as revealed in a report by Deutsche Bank.

Regional firms are seeking to tap into the growing adoption of prepaid cards among German consumers

With the adoption of digital payment methods poised to grow further over the medium term, regional firms are planning to expand their presence in the European nation to aid business growth.

• MyMonii, the Denmark-based pocket money app, announced the launch of its services in Germany in 2023. The fintech firm provides families with a mobile app and an optional Visa prepaid card, enabling them to manage their child's pocket money, while teaching kids how to manage their finances. The Visa prepaid card can be used anywhere Visa is accepted, including in Germany and abroad.

Going forward, MyMonii is planning to expand its presence in more European markets, as the demand for teen-focused prepaid card solutions is growing rapidly across the region. The publisher also expects more regional players to launch their teen-focused prepaid card offerings in the German market over the next three to four years.

The initiatives undertaken by the German Government to aid prepaid card market growth in 2024

To help citizens out with the soaring cost of living, the German government introduced monthly ticket passes for near-unlimited public transport usage in 2022. These travel passes cost just €9. The scheme initially ended in August 2022, however, the government worked on a follow-up pass costing €49 per month in May 2023. The government, in February 2024, revealed that the scheme will continue further throughout 2024.

The strategy behind the extension of the travel pass is part of the government's plan to cut down carbon emissions, while also helping out its citizens with the cost-of-living crisis. The government, in July and August 2022, sold a significant 50 million passes, saving 1.8 million tonnes of carbon emissions. The fact that the German government has put more funds into the scheme shows how popular it has been in the market. Notably, the extension of the travel pass is, therefore, expected to aid the growth of the broader prepaid card industry in Germany in 2024.

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Germany. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

• Market dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in prepaid card and digital wallet industry.
• Digital wallet segments: Provides value, volume and average value per transaction across 5 key spend categories in digital wallet. This includes retail, travel, entertainment and gaming, restaurant, and recharge and bill payment.
• Open loop and closed loop prepaid cards: market estimates and forecasts to assess opportunities 12 open loop and closed loop prepaid market segments. Details four essential KPIs - number of cards in circulation, number of transactions, load value, and value of transactions.
• Virtual Prepaid Cards: Provides transaction value analysis across 12 key prepaid card catergories for Virtual Prepaid Cards.
• Detailed Market Share Analysis by Key Players in the Prepaid Card Market.
• Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key prepaid KPIs, including spend by age, gender, and income level.
• Retail spend: Breaks down retail spend across 11 categories to provide detailed insights on consumer behaviour and changing dynamics of prepaid card spend.

Scope

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Germany. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

Germany Prepaid Payment Instrument Market Size and Forecast

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction

Germany Digital Wallet Market Size and Forecast

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction

Germany Digital Wallet Market Size and Forecast by Key Segments

• Retail Shopping (Value, Volume, Avg. Value)
• Travel (Value, Volume, Avg. Value)
• Entertainment and Gaming (Value, Volume, Avg. Value)
• Restaurant (Value, Volume, Avg. Value)
• Recharge and Bill Payment (Value, Volume, Avg. Value)

Germany Digital Wallet Spend by Key Retail Categories

• Food and Grocery
• Health and Beauty Products
• Apparel and Foot Wear
• Books,Music and Video
• Consumer Electronics
• Pharmacy and Wellness
• Gas Stations
• Restaurants and Bars
• Toys, Kids and Baby Products
• Services
• Other Categories

Germany 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

Germany Open Loop Prepaid Card Future Growth Dynamics

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Germany Closed Loop Prepaid Card Future Growth Dynamics

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Germany Prepaid Card Market Share by Key Players

• General Purpose Prepaid Cards
• Business and Administrative Expense Prepaid Cards
• Travel Forex Prepaid Cards
• Meal Prepaid Cards

Germany Prepaid Card Consumer Usage Trends

• By Age Group
• By Income Group
• By Gender

Germany Prepaid Card Spend by Key Retail Categories

• Food and Grocery
• Health and Beauty Products
• Apparel and Foot Wear
• Books,Music and Video
• Consumer Electronics
• Pharmacy and Wellness
• Gas Stations
• Restaurants and Bars
• Toys, Kids and Baby Products
• Services
• Other Categories

Germany General Purpose Prepaid Card Market Size and Forecast

Germany 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

Germany Entertainment and Gaming Prepaid Card Market Size and Forecast

Germany 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

Germany 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

Germany 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

Germany 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

Germany 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

Germany Transit and Tolls Prepaid Card Market Size and Forecast

Germany Healthcare and Wellness Prepaid Card Market Size and Forecast

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

Germany Fuel Prepaid Cards Market Size and Forecast

Germany Utilities, and Other Prepaid Cards Market Size and Forecast

Germany Virtual Prepaid Card Industry Market Attractiveness

• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction

Germany Virtual Prepaid Card Market Size and Future Growth Dynamics by Key Categories

• General Purpose Prepaid Cards
• Gift Cards
• Entertainment and Gaming Prepaid Cards
• Teen and Campus Prepaid Cards
• Business and Administrative Expense Prepaid Cards
• Payroll Prepaid Cards
• Meal Prepaid Cards
• Travel Forex Prepaid Cards
• Transit and Trolls Prepaid Cards
• Social Security and Other Government Benefit Programs Prepaid Cards
• Fuel Prepaid Cards
• Utilities and Other Prepaid Cards

Reasons to buy

• In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument,Prepaid Card, Digital Wallet and Virtual Prepaid Card in Germany.
• Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Transaction Value, Transaction Volume, and Average Value Per Transaction.
• Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.
• Detailed analysis of market share by key players across key Prepaid Card Categories.
• Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards, virtual prepaid cards and digital wallets.